Shares of Al Yamamah Steel hit all-time high

Logo of Al Yamamah Steel Industries Co.

Shares of Al Yamamah Steel Industries Co. hit an all-time high of SAR 52.60 today, June 24.

The stock closed today’s session more than 8% higher at SAR 51.90 – the highest since debut - with a volume of nearly 7.2 million shares.

Accordingly, the stock gained more than 300%, compared to a lifetime low of SAR 12.96 in March 2020.

Al Yamamah Steel Industries Co. was established as a limited liability company (LLC) in 1989 in Riyadh. It was converted into a closed joint-stock company in June 2006.

The company produces and sells metal products to serve construction, electrical, and telecommunication sectors.

It supplies steel hollow sections, iron pipes, bars and clips for tying, roadblocks, handy carts, structured tires, shaped iron steel bars, lighting and transmission poles, high masts, overhead transmission lines and telecom towers.

The company, capitalized at SAR 508 million, was listed on the Saudi Exchange (Tadawul) on May 22, 2016.