Shares of Al Arabia close at all-time high

Logo of Arabian Contracting Services Co. (Al Arabia)

Shares of Arabian Contracting Services Co. (Al Arabia) rose over 1% to close at an all-time high of SAR 157 after nearly 152,000 shares were traded on the Saudi Exchange (Tadawul) today, June 11.

The stock hit an intraday high of SAR 160.60.

The company was incorporated in 1983 and listed on Tadawul in November 2021. It specializes in installing and operating outdoor billboards, including road and indoor ads.

Al Arabia enters bids offered by various municipalities and government agencies across the Kingdom, with the aim of renting and investing in multiple sites belonging to these agencies and municipalities. This includes installing billboards and selling ad spaces to clients.

The firm expanded its business scope through entering the local advertisement market. It concluded a number of exclusive contracts with the owners of commercial centers across the Kingdom.