Shares of Etihad Atheeb surge 113% since trading resumption

23/02/2021 Argaam Special


Etihad Atheeb Telecommunication Co.’s (GO) shares have jumped by 113% during today’s session to reach SAR 23.58; its highest level since September 2017.

 

Thus, the stock extended its upward streak for the eighth straight session, since trading has resumed on the stock.

 

Around 1.6 million of the telecom operator’s shares out of nearly 22.85 million, have been traded so far.

 

The Saudi Stock Exchange (Tadawul) has not announced GO’s free float shares since Q3 2019, as a trading halt was placed on its shares on July 1, 2018, due to the company’s failure to disclose financials.

 

Trading was resumed on the shares on Feb. 14, 2021, after the telecom operator disclosed preliminary financial statements for the nine months ending Dec. 31, 2020.

 

The stock closed at SAR 11.06 on its last trading session as of June 28, 2018.

 

Stock Performance

Historical High (SAR)

225.34

July 29, 2009

Historical Low (SAR)

10.34

May 29, 2018

Highest Trading Volume

20.97

April 11, 2012

 

The below table shows GO’s key performance indicators (KPIs):

 

Key Performance Indicators (KPIs)

EPS (last 12 months) (SAR)

4.09

P/E (last 12 months) (x)

Negative

Book Value (SAR)

11.08

P/B ratio (x)

2.13

 

The telecom operator implemented a number of changes on its capital to reach SAR 228.53 million, as shown below:

 

Development of Capital (SAR mln)

Date

Old Capital

New Capital

Variation

2020

350.53

228.53

(35%)

2019

472.50

350.53

(26%)

2018

630.00

472.50

(25%)

2017

1575.00

630.00

(60%)

2012

400.00

1575.00

294%

2011

1000.00

400.00

(60%)

 

Bahrain Telecommunications Co. (Batelco) is GO’s largest shareholder, owning a 15% stake.

 

Major Shareholders

Batelco

15.00%

Al Nahla Trading & Contracting Co.

8.88%

 

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