Jahez in forefront of Nomu companies with wide acceptance of investors – Saudi Gazette

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Saudi Arabia

Jahez in forefront of Nomu companies with wide acceptance of investors – Saudi Gazette

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Okaz/Saudi Gazette

JEDDAH — The shares of Jahez company were among the most listed shares in the Saudi Parallel Stock Market (Nomu), and that resulted in decreasing the percentage of its free float shares.

The number of free or public float shares of the leading Saudi food delivery firm decreased by 10.91 percent during the first weeks of the first quarter of 2023, compared to the fourth quarter of 2022, according to a monitoring conducted by Okaz/Saudi Gazette.

It was revealed that many companies listed on Nomu recorded a noticeable change in the number of their free float shares, and the number of free shares often increases when there is no demand for the company’s shares from the part of large investors, while the number decreases when large investors desire to own shares of that company due to their convictions in its future success.

According to the monitoring, the shares of Jahez company were the most declining stock on Nomu in the percentage of its free shares at the beginning of the first quarter of 2023 compared to the fourth quarter of 2022. There was a change in the status of the company’s 192,000 shares from free to non-free while Molan Steel company came