The 'Sports Clubs' share jumps by 24% in its first trading on the Saudi Stock Exchange
The shares of the “Clubs for Sports” business closed 24% in the first sessions in the first sessions spread on the Saudi Stock Exchange today, indicating the return of the momentum to receive the newly listed shares on the stock exchange, after a temporary apathy. The subscription of individual investors was covered in the initial public offering of the company, which took place on July 8, at 5.3 times the amount offered after granting 6.86 million shares for it, representing 20% of the total shares of the offer of 34.3 million shares. The result of the 30% of the total shares reached 257.4 million rows, estimating the company’s market value of approximately 858 million rows. The stock closed at 9.3 Riyals today, exceeding the initial offer price of 7.5 Riyals. The first sessions of the newly listed shares on the Saudi Stock Exchange were usually characterized by a purchase momentum, which has driven their prices to rise dramatically above the initial offer price, but the new shares on the market recently violated the trend and some of them closed without the price of the offer at the beginning of their transactions, and some of them are still trading without the level, including and “Nas -air”. The seventh subscription in the Saudi Market is the offer of ‘Sports Clubs’, the seventh subscription seen by the chief Saudi financial market ‘tassi’ since the beginning of 2025, where the total number of seven subscriptions amounted to about 10,74 billion, the largest of which was the largest the “Flynas” with a value of 4 billion Riy’s, -umm. with about two billion Riyals. Saudi Arabia is the most active market in the region in terms of initial proposals, as it raised more than $ 3 billion this year, according to “Bloomberg”. The path of suggestions in the kingdom is witness to an expansion; Earlier today, the ‘real estate real estate’ announced a preliminary publication of a 30% stake in the Saudi Stock Exchange. Interests in various sectors, and the ‘Andalus Education’ business work with ‘EFG Hermes’ a possible proposal, while ‘Amanat Holding’, listed in Dubai, used ‘SNB Capital’ to discuss the inclusion of its educational unit in Riyadh, according to the people who are familiar with ‘Bloomberg’. At the same time, several businesses are trying to benefit from the increasing demand for infrastructure, tourism and operational projects. The Mag and EFS plans for facility management to offer operations, while the Romance Restaurants series works with HSBC Holdings PLC and Hermes for a possible proposal. A number of real estate development companies such as ‘symbol’ and ‘Marketing Home Group Co’, which specialize in building materials, have obtained organizational approvals, and these companies plan to take advantage of the growing demand for housing in light of the ‘Vision 2030’ and the new rules that allow foreigners. The months of Salim, a member of the Council of Directors of the “CFA” association in Saudi Arabia, explains the reason for the high price of “Clubs for Sports” in the first trade session in the following interview: