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  • 02-12-21

    Saudi stock exchange chances of volatility increase after discovery of first omicron case

    (MENAFN) Newly-discovered strain of coronavirus has made the Saudi stock exchange likely to experience volatility as a reaction of the bad news.

    Upon the discovery of the first case of the new mutation in Saudi, Saudi’s major indexes, TASI as well as Nomu, are predicted to go through a drop in profits after rising a bit yesterday.

    Saudi Tadawul Group’s IPO subscription time finishes on Thursday. Price varies from SR95 (USD25) to SR105 (USD27.99) per stock.

    Based on a bourse filing, Sadr Logistics’ stockholders accepted the board of directors’ suggestions to raise SR175 million (USD46.6m) via a rights issue at value SR150 million (USD39.9m) to grow its logistics facilities.

    Moreover, Sadr’s statement is predicted to drive the stocks much higher, after jumping by 8.66 percent on Wednesday.

    MENAFN02122021000045013568ID1103291715

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