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

DUBAI (Reuters) – Saudi Tadawul Group, the dominion’s inventory alternate operator, posted a 21.7% decline in first quarter internet revenue on Sunday on a slowdown in buying and selling providers and itemizing charges.

The bourse reported a internet revenue after tax and zakat of 140.6 million riyals ($37.48 million) within the three months to March 31, down from 179.6 million riyals in the identical interval final 12 months, in accordance with a bourse submitting.

Tadawul went public in December, elevating 3.78 billion riyals from buyers in an inventory that was 121 occasions oversubscribed.

The Saudi inventory market is the Arab world’s largest. Its listed corporations have a market capitalisation of almost $3.2 trillion.

($1 = 3.7509 riyals)

(Reporting by Hadeel Al Sayegh; Enhancing by William Mallard)