Arab Press

بالشعب و للشعب
Friday, Mar 29, 2024

Jahez in forefront of Nomu companies with wide acceptance of investors

Jahez in forefront of Nomu companies with wide acceptance of investors

The shares of Jahez company were among the most listed shares in the Saudi Parallel Stock Market (Nomu), and that resulted in decreasing the percentage of its free float shares.
The number of free or public float shares of the leading Saudi food delivery firm decreased by 10.91 percent during the first weeks of the first quarter of 2023, compared to the fourth quarter of 2022, according to a monitoring conducted by Okaz/Saudi Gazette.

It was revealed that many companies listed on Nomu recorded a noticeable change in the number of their free float shares, and the number of free shares often increases when there is no demand for the company’s shares from the part of large investors, while the number decreases when large investors desire to own shares of that company due to their convictions in its future success.

According to the monitoring, the shares of Jahez company were the most declining stock on Nomu in the percentage of its free shares at the beginning of the first quarter of 2023 compared to the fourth quarter of 2022. There was a change in the status of the company’s 192,000 shares from free to non-free while Molan Steel company came second, with a decline in the percentage of its free shares by 10.04 percent, equivalent to turning 178,281 free shares into non-free.

The free shares of three companies declined by a rate ranging between 5-9 percent. They are Sure Global Tech Co., Albabtain Food, and Future Care, while the free shares of three companies decreased by a rate ranging between 1-5 percent, which are Saudi Azm, Taiba, and Al-Waha REIT. The free shares decreased by less than one percent as far as six companies are concerned and they are Rawasi, Banan, Jazz, Ladan, Al-Hasoob, and MOBI.

Free float, also known as public float, refers to the shares of a company that can be publicly traded and are not restricted. The term is used to describe the number of shares that is available to the public for trading in the secondary market.

The Saudi Stock Exchange (Tadawul) disclosed that non-free shares are shares owned by any government agency with a percentage of 5 percent or more in the company, or restricted shares that are not allowed to be traded during a period of time, as well as shares due through repurchase by a listed company, in addition to shares owned by a member of the board of directors, and the shares representing controlling ownership of 30 percent or more.

Nomu is a parallel equity market that was launched on the Saudi Stock Excahange (Tadawul) in February 2017 with lighter listing requirements. Nomu serves as an alternative platform for companies to be publicly listed.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
PM Modi Announces Opening Of New CBSE Office In Dubai
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Facebook and Instagram Ban Iran's Supreme Leader
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
The Saudi Kingdom's Ultimatum to Israel: A Win-Win Peace with Saudi Arabia and the Arab World, or a Lose-Lose Continued Occupation and Endless Conflict
Biden condemns anti-Arab hate after WSJ opinion piece calls Dearborn ‘jihad capital’
Turkey Releases Seven Hostages Captured by Pro-Gaza Gunman
Arab Parliament Commends Women's Contributions to Societal Development
British and Hungarian Foreign Ministers visited Lebanese leaders to stress the importance of enacting UN Resolution 1701
Yemen's Houthis Say They Targeted British Merchant Vessel In Red Sea
Donald Trump Nominated for Nobel Peace Prize for 'Historic' Middle East Policy
US lawmakers approve F-16 jet sale to Turkey following NATO expansion support
Saudi Arabia Climbs 25 Places in World Bank's National Statistics Indicator
Tourism Growth in Saudi Arabia Fuels Advancements in the Hospitality Industry," Says Rotana Official
Houthi Rebels Request Departure of UN Staff from Yemen, Including US and UK Personnel, within a Month
Modi Inaugurates Hindu Temple on Site of Demolished Mosque in India
Over 25,000 Deaths in Gaza Amid Israeli Offensive
Escalating Clashes in Gaza as Israel Distributes Leaflets to Assist in Locating Hostages
Turkey's First Astronaut Set to Launch for International Space Station Today
Head of Palestinian Investment Fund Warns More People May Die of Hunger Than War in Gaza
Palestinian Envoy Criticizes UK for Alleged 'Double Standards' in Policies Toward Israel
Morocco to Lead UN Human Rights Council in 2024
Is artificial intelligence the solution to cyber security threats?
Egypt has been identified as the leading military force among Arab nations and ranks 15th globally
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Iranian Nobel Laureate Narges Mohammadi Receives Additional Prison Sentence
"Gazans Urge Israeli Forces to Target Hamas in Leaked Audio"
Biden States US and UK Airstrikes on Houthis Were a 'Defensive Action
Large Pro-Palestine Rally in London as Gaza Conflict Hits Day 100
South Africa Urges World Court to Halt Israeli Actions in Gaza
×