Total value of market trades today – 1,822,603,760 KD
Total value of MTC trades today – 1,718,610,100 KD
Average daily value of market trades in the past 6 months is probably less than 100,000,000 KD.
Today, the value of the trades increased today by 1700%.
MTC’s trades made up 94.3% of the total value.
MTC’s market cap is -
number of issued stocks = 1,895,655,826 x 3.220 KD = 6,104,011,759 KD
value traded today = 1,718,610,100 KD
So ….. today, 28.2% of MTC’s stock has been traded!!
Everyone was hooked with whatever was happening with the stock market today, and the rumor mill started and hasn’t stopped since ….
Most rumors involved Al-Khorafi selling their share in MTC to GCC investors. Names such as Mohammed Bin Rashed and Tahnoon Bin Zayid have been mentioned, Saudi families and companies (MTC’s partners in the Saudi 3rd telecom licence) have been mentioned, and there is also a rumor that says that there has been no selling o a second party, but has been shifting of ownership within the owners’ own portfolio and companies.
The only official mention that came from MTC said -
11:35:23 ِ.اعلان
افاد السيد براك عبد المحسن الصبيح مدير عام شركة الاتصالات المتنقلة
في اتصال هاتفي بالسيد مدير عام السوق الساعة 11:15 صباحا بأن
الشركة ليس لديها اي معلومات او بيانات او اخبار لها صله بارقام
التداول القياسية لاسهم الشركة اليوم . وتقوم ادارة السوق حاليا
بالتدقيق في هذه الارقام
Translated roughly, that says that the PR department at MTC called the stock market and said .. “uuuhh….no clue man!” and that the stock market is investigating the issue!
So many questions….sooooo many!! No answers yet! Soon enough everything will be clear….but whatever the result is, I hpoe MTC or others can learn how loose everything can go and how far rumors will spread if it isn’t planned right or prepared for just in case!
Q, u have yet to fail us. first stop; kuwaitism to find out whats going on. im a broker and the rumours as, u said were countless. but personally, i think it was “tabdeel” and no actual buyer. there isnt that many stocks going around for a seller to own? i think its portfolios playing around. but the intresting thing is that everyone benefited
easy money as we ordered at 3220 and sold 3240.
amazing site
ala yarzighom wikathroon min hasowalif. u shouldve seen the people in the market, cheering and clapping
thanks again Q for ur excellent coverage of the stock market!
It all feels dirty and corrupt.
Sprung, thx
as for the trades, since ur a broker, maybe u can help explain something to me. I remember a couple of yrs ago there was the same thing going on, some sort of swap in shares of ahlia stock. The stock market cancelled all trades the next day because they passed the 5% max without disclosing! How can 29% of the company be traded with any disclosure and no moves by the KSE??? Its very fishy and unfair to shareholders! Some owner sold more than 5% to another portfolio of his own, but it is still a sale that happened!! Do you know the exact rules on that??
Purg, we agree!! wow!!!!!
You are right sprung… I’m a stock broker too but unfortunately I work in Hawally so I missed the pandemonium in KSE
A lot of people managed to gain thousands of KDs today but may God help those who use Al Awsat! Misakeeen!
Abdulmohsen….so right!!! Screw alawsat! This is the 3rd it happens at a very important time these past 2 months! i lost out on the 20 40 thing
Q, don’t forget that two years ago we had a different KSE president. It was said that he was a very corrupt man. The current man impresses me but I dont know alot about disclosures but don’t companies have a specified period of time before they are forced to do that?
Anyway, Mr. Al Saqer was rumored to have complained about today’s trades on MTC saying that there was’nt any disclosures.
ouch… better look at the services offered by KFH (at least its free!)
Q,
Nice post, very informative, eventhough I have no interest in stock trading whatsoever… but being outside Kuwait and seeing all the fuss on the net on on sms messages, I hope you can help me with this question..
What’s with Boubyan Bank? in the banking sector it seems to be heavily trading today, 11,335,000 shares, in 373 deals, and it’s the only stock who went up in the banking sector the rest are all down or holding!!! Something going on with this very troubled bank?!?
Keep up the good work, too sad missed your TV debut
haha alawsat winta ib karama!! i get better service callin KFC!! its a ripoff aswell.
goodluck!
Q, ur absolutely right about the 5%. that is the main reason why i excluded the buyer scenario.
but as for the swap, its totally legel (im 90%sure). first because there are other buyers and sellers in the market. it would be illegal if theres no trades on a stock EXCEPT ur swaps.
but as for the swaps, i dont think they exceeded the 5%, simply because there might be more than 2 portfolios teaming up. well planned out and nicely done in my opinion. also ive been on MTC’s ass, and been tracking it for a while. There has been a huge collection goin on for the past month or so, insane buyers taking it way up, and huge sellers taking it down. NOW, taking it down means they are collecting the stock in prices they desire, plus forcing people to sell.
for those who said its dirty and all, why? i think it was nicely done. and it also gave alotta people a chance to make money.
abdulmohsen – ya u did miss it :/ i havent seen anythin like this.. they say there will be a second round, but on a smaller scale
Sprung, when u say smaller scale do you mean tadawil only around 1 billion? hehehehe j/k
anyway allah yi3eena 3ala tadawil yoom ilsabt. BTW i have more than 3 taswiyat due saturday because of MTC. You know what I mean sprung… I just hope that you have none.
OK, so when do will I get my free coffee?
the word is its a shift between khorafi portfolios and now al saqir is complaining about it! MTC has nothing to do with it by the way.. it the market’s authority fault not to demand disclosure..
Could someone please explain to me what is happening in layman’s terms please ?
abdulmohsin – yes i have one taswiyah! :/ feeha ta3ahod.. 3 strikes and ur out! how about if i say it was clients mistake? the client also has 3 strikes? i did 44 deals for 3 accounts and only one taswiyah i thought was good.
and another thing, every brokerage house got into the deals, modeer maktabna was goin in and out with half mils (that was the max capacity for that unit, pathetic). so every broker that has a big client or portfolios was goin in and out.
i dont understand why everyones pist off! it is a good thing when everyone benefits. when theres alot of demand and supply to match than its a win-win situation.
be prepared for round 2 but becareful as people will start pullin out, and at the end someone needs to buy. which will force the stock to go to minimum.. very risky.
good luck trying to staple the mistake on the client… that is only if he is willing to accept it… btw there is a way out of it, if you know a client with cash available then make a ta3deel safqa to that guy and everything will be fine… that is if your mistake was a buy and when the client doesnt have cash.
abdulmishin – i wish. mine was selling before buying. and then i bought it. the client is my uncle and wouldnt mind at all. so its possible right?? no other way out of it huh..
للأسف خذتنا ماية دبي ذات الحضارة الكرتونية والعمارات والمجمعات
كان من الاولى زيارة المراكز الثقافية والعلمية ذات الوجه الحضاري
بس الظاهر اهتمامات رئيس الوزراء البحريني هي اللي حددت الزيارة
Well, i heard such rumors and they make big sense I believe. With 3rd operator, and expansion in new shopping malls, there is more potential outside perhaps. As to what MTC has to say, it does not mean anything
Wataniya said the same thing few months before they sold it to Qatar. They don’t want the news to spread so they can collect more stocks at lower price, which they did.