Shares of Arriyadh Development hit 15-year high

Logo of Arriyadh Development

Shares of Arriyadh Development Co. (ARDCO) hit their highest level in 15 years since 2006, today, March 11, 2021, trading at SAR 20.64 per share.

The stock is up more than 6% amid trading of about 8.2 million shares so far.

Accordingly, its gains since May reached about 64%.

ARDCO was established on Jan. 27, 1994, as a national joint stock company to participate in the development of the central Riyadh area, in addition to meeting investment needs in all regions of the Kingdom.

The company's objectives are to establish commercial, office, residential and service facilities such as parking and investment in the Qasr Al-Hokm area or elsewhere; and to set up, sell or rent residential complexes in cash or installments. The company also manages real estate for its own account or others; manages construction projects that prove economic feasibility; and provides citizens with the opportunity to contribute to this and other activities.

By the end of Q4 2020, the company's free-float shares stood at SAR 177.6 million, representing 99.9% of the total company's shares of 177.78 million.

The following table shows the most important financial indicators of the company:

The company raised its capital twice through bonus shares. The following table indicates the company’s capital updates according to data available on Tadawul: