Shares of Mouwasat hit all-time high, soar 120% in 10 months

Logo of Mouwasat Medical Services

Shares of Mouwasat Medical Services Co. (Mouwasat) hit today, Jan. 25, 2021, their highest price at SAR 151.80 since debut.

Mouwasat closed today’s session 1% higher, amid trading of 130,900 shares.

Accordingly, the stock soared 117% since March 2020 and more than 1000% since debut as it closed its first trading session on Sept. 2, 2009, at SAR 13.06.

Established in 1974, Mouwasat started as an individual company with SAR 100,000 in capital to manage and operate medical facilities.

The Tadawul-listed company established Mouwasat Clinic in Dammam in 1975 and founded the first comprehensive medical facility named Al Mouwasat Hospital in Dammam in 1984, which began operations in 1988.

On Sept. 2, 2009, the company was listed on Tadawul at SAR 44 (before amendment) i.e. SAR 11 (after amendment) as it raised its capital twice through bonus share distribution in 2012 and 2018 to reach SAR 1 billion.