23 Hrs
Source:
الاقتصادية
Major traders boost CineUM Retail to limit
Synomi Retail's stock experienced a significant surge, closing at 14.05 Riyals, reaching its highest level and rising by nearly 10%. This occurred amidst billion-riyal transactions involving major traders. The rally came two weeks after the Capital Market Authority referred company officials to the Public Prosecution on suspicion of violations, with reports indicating that these movements took place despite no final ruling being issued. Trading value increased to around 75 million Riyals, with large investors entering the market, as eight transactions of one million Riyals or more were executed. This demonstrates strong interest from major investors at the maximum permissible price. Additionally, Al-Futtaim Group announced its investment of a 49.95% stake in the company through a private deal valued at 2.95 billion Riyals.
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