Saudi Arabia.. “TAM Development” shares rise 1.01% after requesting to purchase a project for 24.8 million riyals

The shares of the “TAM” Development Company, listed on the parallel Saudi stock market “Nomu,” rose by 1.01% at the beginning of Saudi market trading today, Wednesday, to trade at a price of 200 riyals per share, after it obtained a purchase order for a project worth 24.8 million riyals.

Trading in TAM Development Company shares at that time amounted to 18.57 thousand shares, with a trading value of 3.54 million riyals.

The highest share price at that time was 201 riyals per share during the session, while the lowest share price was 199 riyals per share.

The stock witnessed a significant rise after TAM Development Company announced that it had obtained a purchase order for a project worth 24.8 million riyals, within the framework of the framework agreement signed with a government entity, which was previously disclosed.

The company indicated that the awarding process took place last Tuesday, emphasizing that there are no parties associated with the project.

On March 24, 2024, TAM Development Company announced that it had signed a framework agreement with a government entity, extending for three years, with a total value of up to 200 million riyals, including value-added tax.

The company explained that the agreement includes providing consulting services and integrated technical solutions through this framework agreement for the benefit of the aforementioned government entity.