Knowledge City Hits 52-Week High After Logistics-Fund Plan

Shares of TASI-listed Knowledge Economic City (KEC) hit a 52-week high today, July 23, data compiled by Argaam showed. The stock rose to 21.36 riyals.

The move followed the company's announcement that its board will vote on a proposal to establish a real estate fund focused on logistics and industrial assets. The fund, structured as a closed-ended investment vehicle, would target assets within the Knowledge City development in Medina.

KEC's board also plans to discuss the annual review of the company's internal control procedures and its governance report at the same meeting. A date for the vote has not been set.

The stock has gained roughly 28% year to date, putting it among the top performers on the Saudi main index this year. Trading volumes on the day were roughly triple the 90-day average, according to exchange data.