13/01/2015
3 deals worth 194 thousand riyals
Owners of outstanding companies dispose the shares with heavy losses
The owners ofcompaniesbegantradingonthe mainmarketandtraded in themarket outsidethe podium,disposeoftheir sharesof heavy losses, as a resultof the financialdeteriorating conditionsforthose companies,their absence fromthe mainmarketfor a long timeand is expected tobe extendedas a result ofthe largeaccumulatedlosses,andthe ambiguity ofthe situationonits future.
According to the analysisunitof economicreportsin the"Economic Daily", thetwo companiesAlmtdaoltenin a marketoutsidethe podiumlosses,"Albaha" and"Almejel",amounting tomore than120 per centof the capital, with a123per cent forthe first,and 221per cent inII.The totalshares traded in themarketoutside ofthe platformsinceits introduction,46.2thousand shares,with a total valuefor the two companiesnearly194thousand riyalsthroughthree deals.According to theanalysis, the97 per cent oftradesoutsidethe podium,where hehascontributedtothe acceleratedcompanyabout188thousand riyals,45.5thousand shares.
Two transactionson theshares"Almejel"was implementedmost recentlyyesterday,to7.5thousand shares,at a priceof four centsper share,a $30thousand riyals,tolose thecompany's sharesmore thantwo-thirds ofits value(68 per cent), where hewas the lastshare pricebefore stoppingforthe tradingyear2012,amounting to12.55Raal.okansamescenariowas repeatedlast week,after the implementation ofthe firstdealbythe arrowoutsidethe platformvalue of152thousand riyals,wherethe number of shareswhichamounted to38 thousandshares at a priceof four centsper share.
The thirddealwas awardedto AlbahaCompanysharesat a price ofnineriyals per share, which islower than thelastclosinginthe mainmarket(13.5riyals) by about33 per cent, withthe implementation of thedeal,14Decemberon666shares,with a total valuefour thousandRiyal. The convergence ofthe Saudi Capitalmarket Authorityhas approvedon September 17last September,sharessuspendedfrom tradingcompaniestradingorthat have beende-listedoutsidethe podium,under the proceduresof listed companies, which amounted toaccumulated lossesof 50 per centor moreof its capital.
UsuallywarnsSaudi Arabia"trading"financialmarket,allowed to tradesharesinthe loss-makingcompaniesdata,and commentatorshares,in a marketoutside ."trading"on 24Decemberthe request of theMMG,tobe starteddealing in theshares of the companyoutsidethe podium, starting on4(January2015),to catch acompanycourtyard, whichallowed them to"trading"tradingas ofNovember 9, 2014,to becomethe "accelerated"secondexperienceinthe parallel market(outsidethe podiummain)market.
The number ofsuspended companiesfrom tradingfive companies,BishaAgricultural Companysuspended from tradingsince(January2007),nomore thansevenand a half years, in addition to"MMG"suspended fromtradingsince 21July2012,and "Al Baha"suspendedsince 30June2013,along withtwoinsurance"protection"suspendedsince4(June)2014,and "guaranteed"suspended7(since September)2014.Thedecision includesre-tradedsharesthe two companies(prevention andsupport),becausetrading onthe twocomments that werebased on a decisionofthe SaudiArabian Monetary Agency"toxic"to suspendthe two companiesinsurance,has not beensuspended from tradingby the Commissionpursuant toprocedures for thelossesaccumulatedfor companies,butin response to thedecision, "toxic".
