https://arab.news/6ngnh
RIYADH: After ending last week’s trading session in the red, the Tadawul All Share Index edged up 0.32 percent to close at 11,307.77 on Sunday.
The parallel market Nomu also ended the day 9.83 points higher at 21,331.91 and the MSCI Tadawul Index climbed up by 0.36 percent to 1,524.68.
The total trading turnover at the benchmark index amounted to SR5.2 billion ($1.39 billion).
The top performer of the day was Saudi Arabian Amiantit Co., as its shares went up by 9.09 percent to SR48.
It was followed by Thob Al Aseel Co. and Methanol Chemicals Co., as their share prices surged by 4.42 percent and 4.4 percent respectively.
Al-Etihad Co-operative Insurance Co.’s shares plunged by 3.19 percent to SR17.62.
CMA to no longer charge commission on sukuk trading
Saudi Arabia’s Capital Market Authority on Sunday said it will no longer charge commissions on sukuk and bonds trading to facilitate investors and enhance liquidity in the local market.
The decision will take effect on May 1, said an official statement.
It added that the decision will help increase the competitiveness of the local market and expand the base of local investors in government debt issuances.
“It is hoped that the decision will contribute to motivating issuers to list local currency-denominated sukuk and bonds in the Saudi debt market, and encourage investors to trade these instruments, which will help deepen the debt market and increase its liquidity, while diversifying financing options for the public and private sectors, by creating a new class of assets for all segments of investors,” it said.
Major announcements
Ghida Alsultan for Fast Food Co. revealed that its net profit increased by 28 percent to reach SR19.5 million in 2022, from SR15.3 million in 2021. The company attributed the rise in net profit to an increase in sales and the establishment of the Foil Burger cloud brand.
The United International Transportation Co., also known as Budget Saudi, signed a sales and purchase agreement to acquire 70 percent — worth SR126.4 million — of Overseas Development Co.’s ownership in Saudi Arabia.
On April 30, One Investments Co. issued its prospectus to float 300,000 shares, accounting for 10 percent of its SR30 million capital on Nomu. The company said the share sale will run from May 18 to 25 for qualified investors.