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Nasr for Civil Works reports 22% profit decrease ending Dec. 2019       Delta Sugars profits plunge to EGP 58M ending Dec. 2019       Export Development Bank of Egypt (EDBE) (EXPA.CA) - EGM Decisions       Release from National Bank of Kuwait - Egypt - NBK (NBKE.CA) Concerning the BOD & Executive Managers       Release from Egyptian for Tourism Resorts (EGTS.CA) Concerning a Lawsuit       Oriental Weavers (ORWE.CA) - EGM Minutes Held on 17/04/2019 (after Certification)       Oriental Weavers (ORWE.CA) - EGM Minutes (after Certification)       Delta Sugar (SUGR.CA) - Board of Directors Decisions       Parliament approves Egypt share increase in IBRD capital stock       EBRD is interested in pumping investment into Egypt: President       EGX sets price limits of Elshams Pyramids right for Tuesday       Release from Mohandes Insurance (MOIN.CA) Concerning the BOD Meeting       Release from Rowad Misr Tourism Investment (RMTV.CA)       Release from Gulf Canadian Real Estate Investment Co. (CCRS.CA) 28/01/2020       Release from MM Group Industrial & International Trade (In Kind) (MTIE.CA) Concerning the BOD & Executive Managers       Lebanons Bank Audi reportedly hires EFG Hermes as advisor for Egypt unit sale       Finance minister approves EGP 28B in urgent allocations to several state bodies       Petroleum Ministry, Eni open 1st integrated filling, charging station in Port Said       Kuwait could need $180B in financing over next six years: IMF       Egypt to discuss electricity linkage with Congo      
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Aramcos surge on debut lifts Saudi shares


Saudi stock market rose on Wednesday, as the worlds largest listed firm Saudi Aramco soared to the maximum limit of 10% on its first day of trading.
Shares of Saudi Arabian Oil Co (Aramco) rose to 35.2 riyals ($9.39) apiece, higher than their initial public offering (IPO) price of 32 riyals. The increase helped the company close in on the $2-trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman.
Aramco raised $25.6 billion on Dec. 5 through the IPO. It plans to exercise the 15% greenshoe option in whole or part during the first 30 days of its trading period. If the option is exercised in full, the oil giant could raise $29.4 billion in IPO.
The Saudi benchmark index climbed 0.8% in early trading. Other gainers included National Commercial Bank and Al Rajhi Bank, which rose 1.1% and 0.5%, respectively.
The Abu Dhabi index added 0.2%, helped by a 0.7% rise in telecoms firm Etisalat and a gain of 0.1% in First Abu Dhabi Bank.
In Dubai, the index edged down 0.1% as Emirates NBD slid 0.4%, while budget airliner Air Arabia declined 1.4%.
The Qatari index slipped 0.2%, with Qatar Islamic Bank and lender Masraf Al Rayan shedding 1% and 0.5%, respectively. Source: Reuters

Time Added: 2019-12-12 11:01:31
Source: arabfinance
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