Shares of Budget Saudi hit 7-year high

Shares of United International Transportation Co. (Budget Saudi) hit today, March 18, 2021, their highest level in seven years, or since August 2014, at SAR 47.35 per share.

Budget Saudi closed today’s session 5% higher, amid trading of 3.6 million shares.

Accordingly, its gains since March 2020 reached about 100%.

The company is engaged in car rental under a franchise contract from Budget International Rent a Car Co. (Budget), and is considered the largest franchise for Budget International in the Middle East and Africa.

Budget Saudi provides various transportation services including short- and long-term leasing of passenger cars, commercial vehicles and the sale of used cars.

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

The company raised its capital six times through bonus shares to reach SAR 711.7 million.

The following table indicates the company’s capital updates according to data available on Tadawul:

On Sunday, March 21, the retail investors will start subscription for 1.29 million shares of Theeb Rent a Car Co. – which operates in the same sector of Transportation on Tadawul - for one day, at SAR 40 per share.