Amlak Shares Closed, at their Highest Level

The stock of Amlak International Real Estate Finance Company “Amlak” ended the session at SR24.4, the highest closing per share since the company’s listing on July 13, 2020, and after the latest gains, the stock has increased by 11.4% since the start of the year, after closing at SR21.90 in December 2020.

The increase in price levels was accompanied by an increase in trading volumes and values, with trading volumes and values totaling SR90.7 million, compared to SR139.35 million last Thursday, which is higher than the average weekly share trading of SR65 million, as well as higher than the average trading values.

The amount is SR27.3 million per month. The stock’s trading volume was 3.74 million shares on Wednesday, and 5.79 million shares on Thursday, which is greater than the average weekly trading valuation of SR2.7 million and the average monthly trading volume of SR1.15 million.

Amlak reported earnings of SR28.22 million in the second quarter of 2021, up from SR23.8 million in the same period of the previous year, representing an increase of 18.56%.

This gain was related to a drop in borrowing costs, as well as the reversal of the impairment provision for predicted credit losses in the current quarter.