Kingdom Holding, Alhokair stocks surge after owners released

28/01/2018 Argaam

 

Shares of Kingdom Holding and Fawaz Abdulaziz Alhokair Co. (Alhokair) rallied on Sunday, following reports that their owners have been released from detention at Riyadh’s Ritz-Carlton.

 

Kingdom Holding jumped its 10 percent daily upper limit to SAR 10.04, within minutes of start of trading on Saudi Stock Exchange (Tadawul).

 

Alhokair was up nearly 8 percent at SAR 31, at 11.15 am Dubai time.

 

The benchmark Tadawul All Share Index (TASI), however, was slightly lower at 7,519 points in early session.

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