Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Amak of KSA sees 30% jump in shares on first trading day

After a strong debut, Amak now holds a market valuation of SR5.4 billion.
By TRENDS Desk
March 29, 2022 9:10 pm
  • The company saw its share price surge to a closing price of SR81.9 ($22), against an initial public offering price of SR63
  • In its IPO, the firm saw strong demand from institutional and retail investors, generating SR95.8 billion worth of orders collectively

Shares of Saudi mining firm Amak surged 30 percent on its debut on the kingdom’s main stock exchange.

Known as Al Masane Al Kobra Mining Co., the company saw its share price surge to a closing price of SR81.9 ($22), against an initial public offering price of SR63.

After a strong debut, Amak now holds a market valuation of SR5.4 billion.

In its IPO, the firm saw strong demand from institutional and retail investors, generating SR95.8 billion worth of orders collectively.

The initial share sale came at a time when Saudi Arabia is revamping its mining sector to attract more private investors.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]