Thimar shares up 10% as trading resumes

Thimar Development Holding Co.

Shares of Thimar Development Holding Co. gained 10% today, March 2, to reach SAR 18.92 each, compared to its last closing price before a trading halt was placed.

Around 34,400 shares changed hands in 68 transactions at 5.7 shares per transaction.

Buy orders were placed on 1.7 million shares, representing approximately 17% of the company’s share capital amounting to 10 million.

The Saudi Exchange (Tadawul) decided to lift a trading halt placed on Thimar shares as of today, after the company announced, on Feb. 28, its preliminary financial statements for the period ended Sept. 30, 2022, in addition to the over-the-counter (OTC) trading.

A trading halt was placed on the company’s shares on Dec. 11, 2019, for failure to disclose financial statements for Q3 2019. The stock was kept suspended as the company failed to announce financials for consecutive periods.

The stock closed at SAR 17.20 on its last day of trading.

Previously, Tadawul approved Thimar’s request to trade shares OTC as of Sept. 6, 2020, with some transactions executed on the company’s shares.

Thimar was incepted in 1987. Its business portfolio comprises managing other units and investing their funds in owning properties.

Thimar reported earnings of SAR 906,000 in the first nine months of 2022, versus losses of SAR 3.7 million in the year-earlier period.