RIYADH: Saudi Arabia’s stock market started the week lower on Sunday, weighed down by declines in major players including Aramco, SABIC, and Al Rajhi Bank.
The main TASI index lost 2.2 percent to close at 12,322, and the parallel market Nomu shed 2.3 percent to 21,737.
However, shares of telecom giant stc added 6.6 percent after its board proposed a SR30 billion ($8 billion) capital hike by granting bonus shares.
Elsewhere in the Middle East, stock exchanges of Qatar, Egypt, Bahrain, Oman, and Kuwait all dropped, with Kuwait leading as it shed 2.1 percent.
In energy trading, Brent crude fell to $119.9 a barrel and US West Texas Intermediate traded at $118.54 a barrel as of 9:11 a.m. Saudi time on Monday.
Stock news
Shareholders of Banque Saudi Fransi approved the board’s proposal to pay out SR1.5 per share in dividends for 2021
Bupa Arabia’s board proposed a capital increase of SR300 million through the issuance of bonus shares
National Environmental Recycling Co., known as Tadweeer, has signed an initial deal with the ministry of communications and information technology to establish a center for waste recycling
Saudi Real Estate Co.’s rights issue was 94 percent covered, with proceeds amounting to SR1.5 billion
Shatirah House Restaurant Co. said it has increased the number of operating branches to 100 as part of a wider plan to cover the entire Saudi market by 2025
Jadwa REIT Saudi Fund increased the limits of its shariah-compliant banking facility from Banque Saudi Fransi by SR170 million
The Saudi Industrial Exports Co.’s rump offering was 622 percent covered, generating SR96 million in proceeds
Calendar
June 14, 2022
Saudi construction firm Ladun Investment Co. will start trading its shares on the parallel Nomu market
Start of Rabigh Refining and Petrochemical Co.’s, or Petro Rabigh, subscription to new shares and rights trading
June 21, 2022
Rabigh Refining and Petrochemical Co.’s rights trading ends
June 26, 2022
Rabigh Refining and Petrochemical Co.’s subscription to new shares ends
