Shares of Etihad Atheeb surge 113% since trading resumption

Etihad Atheeb Telecommunication Co.’s (GO) shares have jumped by 113% during today’s session to reach SAR 23.58; its highest level since September 2017.

Thus, the stock extended its upward streak for the eighth straight session, since trading has resumed on the stock.

Around 1.6 million of the telecom operator’s shares out of nearly 22.85 million, have been traded so far.

The Saudi Stock Exchange (Tadawul) has not announced GO’s free float shares since Q3 2019, as a trading halt was placed on its shares on July 1, 2018, due to the company’s failure to disclose financials.

Trading was resumed on the shares on Feb. 14, 2021, after the telecom operator disclosed preliminary financial statements for the nine months ending Dec. 31, 2020.

The stock closed at SAR 11.06 on its last trading session as of June 28, 2018.

The below table shows GO’s key performance indicators (KPIs):

The telecom operator implemented a number of changes on its capital to reach SAR 228.53 million, as shown below:

Bahrain Telecommunications Co. (Batelco) is GO’s largest shareholder, owning a 15% stake.