Muscat - Abraj Energy Services Company led the Muscat Stock Exchange last week to this year's best weekly trading value at RO40 million, compared to the traded value of RO18.5 million and RO14.9 million in the previous two weeks, respectively.
Last week's trading represented 88.1 percent of the total trading value witnessed by the Muscat Stock Exchange in February, which amounted to about RO45.4 million.
The company was listed for trading on Tuesday after the end of the subscription for 377.4 million shares it offered for public subscription between February 20 and March 2 for RO25.8 million Omani riyals.
The share witnessed the execution of 15,977 transactions, thus accounting for 64.6 percent of the total value traded and 92.1 percent of the total number of transactions executed during the week (17,337). The number of transactions executed on the shares of Abraj Energy Services Company is equivalent to the total number of transactions executed on the Muscat Stock Exchange in January and February.
During the past three trading days, the stock witnessed selling pressure on the part of investors who were looking to obtain a good return from the subscription that was offered to them at a price of 224 bz per share. Thursday's session closed at 298 bz, up 49 bz from the listing price of 249 bz.
Subscribers in the second category gained 74 bz over the offering price and the stock was able to rise in Thursday's trading to 302 bz.
Abraaj Energy Services pushed the market value of the securities listed on the Muscat Stock Exchange to rise at the end of Thursday’s trading to RO23. 937 billion, recording weekly gains at RO166.5 million.
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