Saudi Catering shares hit highest price since 2016

Logo of Saudi Airlines Catering Co.

Shares of Saudi Airlines Catering Co. (Saudi Catering) hit their highest price since April 2016 at SAR 111.60 today, July 4.  

The stock is trading up 10% today, with 1.1 million shares traded so far.

Argaam earlier reported that Saudi Catering signed two contracts with Red Sea Global Co. (RSG) at a total estimated value of SAR 9 billion.

Tadawul announced, on July 3, a one-day trading halt on Saudi Catering’s stock, on the company’s request ahead of disclosing a material event. Trading on the shares resumed today.

Saudi Catering was established in 2008 and listed on the Saudi Stock Exchange (Tadawul) in July 2012, with SAR 820 million in capital, divided into 82 million shares, at SAR 54/share. The company has not changed its capital since listing. 

The company specializes in providing catering and other support services to international and domestic airlines that operate flights inside and outside Saudi Arabia.