Alandalus Property shares hit highest price since listing

Logo of Alandalus Property Co.

Shares of Alandalus Property Co. hit today, May 2, 2021, their highest level since listing, at SAR 28.10 per share.

The stock is closed almost 4% higher at SAR 27.15 – the highest level since debut - amid active trading on 3 million shares.

Earlier today, the company announced its board’s recommendation to increase capital by 33.33% to SAR 933.33 million from SAR 700 million, through bonus share distribution.

In a separate statement, the company also said that its board of directors approved the dividend distribution policy for 2021, 2022 and 2023.

Alandalus Property was established in 2006 and was listed on the Saudi Stock Exchange (Tadawul) on Jan. 12, 2016, with a capital of SAR 700 million.

The company’s activities relate to the retails sector, including shopping malls and strip malls.

The following table shows the most important financial indicators of the company: