Thimar shares rise 160% on Tadawul since trading resumed

Share of Thimar Development Holding Co. continued to rise on the Saudi Exchange (Tadawul) today, March 20, closing the daat SAR 44.35 (+10%).

The total traded volume stood at about five million shares.

Accordingly, the stock gained 160% since it resumed trading about three weeks ago, compared to its last closing price before the trading halt at SAR 17.20.

Tadawul lifted the trading halt on Thimar on March 2, after the company published, on February 28, its preliminary financial statements for the period ending on September 30, 2022.

Trading on Thimar shares was suspended on December 11, 2019, as the company failed to publish its financial results for the third quarter of 2019.

The trading suspension continued because the company did not announce its results for the subsequent financial periods.

Tadawul approved the company's request to trade its shares over-the-counter (OTC) from Sept. 6, 2020, with several transactions carried on the stock.

Thimar was established in 1987, and its activities are primarily in managing subsidiaries, investing the funds of subsidiaries, owning the necessary real estate and movables, and holding industrial property rights for subsidiaries.