Alawwal, SABB stocks see mixed performance on merger deal

Alawwal, SABB stocks see mixed performance on merger deal
SABB’s stock inched down 0.16%
ALAWWAL
1040
-0.14% 14.76 -0.02
SABB
1060
0.60% 33.40 0.20

Riyadh – Mubasher: The stocks of Alawwal Bank and the Saudi British Bank’s (SABB) have seen a mixed performance on Thursday on the Saudi Stock Exchange (Tadawul) after the two lenders announced signing a binding merger agreement.

By 12: pm Saudi time, Alawwal Bank’s stock rose 2.82% to SAR 14.60 after 3.2 million shares were exchanged through 762 transactions, with a liquidity of SAR 47 million.

Meanwhile, the Saudi British Bank’s (SABB) stock inched down 0.16%, reaching SAR 32.25 after 185,200 shares were exchanged, through 230 deals, according to Tadawul’s data.

In the meantime, the Saudi bourse fell 4.89 points, or 0.06%, to 8,003.66 points.