Tadawul Group shares plunge 10% to SAR 188.80

13/11/2022 Argaam Special

Saudi Tadawul Group shares plunge 10% to SAR 188.80

Logo of Saudi Tadawul Group Holding Co.

Shares of Saudi Tadawul Group Holding Co. (Tadawul Group) plunged 10% during today's session to reach SAR 188.80.

 

The stock recorded a traded volume of about 14 million shares, at a value of SAR 2.64 billion, including negotiated deals on nearly 12 million shares, at SAR 191 each, totaling SAR 2.3 billion.

 

The Public Investment Fund (PIF) announced, on Nov. 11, the successful completion of the book-building process for institutional investors in the sale of a 10% stake in Tadawul Group, according to Argaam's data.

 

The sale was executed through off-market negotiated deals today, Nov. 13, before market opening, in accordance with the negotiated deals framework stipulated.

 

Tadawul Group was established in Riyadh as a Saudi joint-stock company in 2007, before debuting on the Saudi Exchange (Tadawul) in December 2021.

 

Through its subsidiaries, Tadawul Group is deemed the main provider of securities trading, clearing and settlement services in the Kingdom. It also offers innovation-related tech services via one of its units.

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