Arabian Drilling soars 99% in 10 months to close at all-time high

Arabian Drilling onshore rig

Arabian Drilling Co. closed 3% higher at SAR 198.60, the highest level since debut on the Saudi Exchange (Tadawul), after nearly 465,000 shares changed hands.

 

The stock hit an intraday high of SAR 199.

 

Following the latest gains, the stock has climbed 99% compared to the listing price of SAR 100.

 

Arabian Drilling was incepted in 1964 and listed on Tadawul on Nov. 7, 2022. The company is capitalized at SAR 890 million.

 

Its main business focuses on onshore drilling, which includes services related to drilling via onshore rig platforms.

 

Stock Performance

Annual High (SAR)

199.00

Today, Sept. 20, 2023

Annual Low (SAR)

100.00

Dec. 12, 2022

Historical High (SAR)

199.00

Today, Sept. 20, 2023

Historical Low (SAR)

100.00

Dec. 12, 2022

Highest Trading Volume (mln shares)

13.60

Nov. 7, 2022 (The first day of listing)

Listing Price

SAR 100

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