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Saudi bourse’s quarterly profit falls on lower trading services, listing fees By Reuters

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Saudi bourse's quarterly profit falls on lower trading services, listing fees By Reuters



© Reuters. FILE PHOTO: Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia March 9, 2020. REUTERS/Ahmed Yosri//File Photo

DUBAI (Reuters) – Saudi Tadawul Group, the kingdom’s stock exchange operator, posted a 21.7% decline in first quarter net profit on Sunday on a slowdown in trading services and listing fees.

The bourse reported a net profit after tax and zakat of 140.6 million riyals ($37.48 million) in the three months to March 31, down from 179.6 million riyals in the same period last year, according to a bourse filing.

Tadawul went public in December, raising 3.78 billion riyals from investors in a listing that was 121 times oversubscribed.

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The Saudi stock market is the Arab world’s largest. Its listed companies have a market capitalisation of nearly $3.2 trillion.

($1 = 3.7509 riyals)



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