Turn on more accessible mode
Turn off more accessible mode
Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
25-10-22
Ma’aden’s stock costs rise 104 percent, records peak rate since listing
(MENAFN) Saudi Arabian Mining Co., known as Ma’aden’, witnessed its stocks price reaching its peakiest rate since the firm went public on the back of its strategy to grow output volume.
Ma’aden’s stock price, which started at SR39.25 (USD10.5) this year, jumped to SR80 (USD21.3) on Oct. 24, rising 104 percent.
In March, the state-owned company declared strategies to rise output volume as well as finance in exploration to tap into the nation’s USD1.3 trillion mineral reserves — which economist Ali Alhazmi believes is the reason that made Ma’aden shares profitable, in advance it led to high performance.
While giving a speech to Arab News, Alhazmi clarified that one of the causes might be attributed to Ma’aden turning into a profitable firm in 2021, amounting SR5.2 billion, in comparison with SR280 million in losses two years ago (2020).
“By the end of 2022, Ma’aden will achieve SR9 billion in profit, a growth of 50 percent from 2021,” Alhazmi forecasted.
"The beginning of the third line of its ammonia production also helped the company’s fortune, especially when there was a considerable shortage of raw materials for fertilizer,” chief executive of Rassanah Capital Abdullah AlRebdi informed Arab News.
MENAFN25102022000045014228ID1105074241
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us