RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 68.72 points, or 0.59 percent, to close at 11,690.65.
The total trading turnover of the benchmark index was SR4.63 billion ($1.23 billion) as 160 of the listed stocks advanced, while 53 retreated.
On the other hand, the Kingdom’s parallel market Nomu slipped 391.23 points to 23,390.82 as 33 of the listed stocks progressed, while 29 closed lower.
Meanwhile, the MSCI Tadawul Index rose slightly to 1,510.13.
The best-performing stock of the day was SAL Saudi Logistics Services Co. The company’s share price surged 8.73 percent to SR159.40.
Other top performers included Al-Baha Investment and Development Co. and Hail Cement Co.
The worst performer was Tourism Enterprise Co., whose share price dropped 1.64 percent to SR0.60.
Other poor performers were Makkah Construction and Development Co. as well as Allied Cooperative Insurance Group.
On the announcements front, the United International Transportation Co. has announced the signing of the share purchase and share subscription agreement to acquire Al-Jazeera Equipment Co. fully.
According to a statement to Tadawul, the acquisition will be done by increasing capital through the issuance of new shares to the selling shareholder of Al-Jazeera Equipment Co.
Saudi Investment Co. has agreed to purchase 5 million of its shares as incentives for employees within the employee stock program.
A bourse filing revealed that the purchase will be financed from the bank’s resources and that the board of directors has been authorized to complete the purchase process within 12 months from the date of the assembly’s decision.
Additionally, the bank will retain the purchased shares for a period not exceeding 10 years from the date of approval as a maximum until they are allocated to eligible employees.
Moreover, Sahara International Petrochemical Co. has announced the award of the engineering, procurement, and construction contract worth $500 million to SGC-eTEC to expand the ethylene cracker plant at the Saudi Ethylene and Polyethylene Co.
According to a bourse filing, the project is expected to be completed, and production is set to begin in the first half of 2026, with an increase in olefins production at the ethylene cracker plant by around 18 percent.
Similarly, the National Industrialization Co. has also announced the award of the EPC contract worth $500 million to SGC-eTEC to expand the ethylene cracker plant at the Saudi Ethylene and Polyethylene Co.
Furthermore, Kingdom Holding Co. is set to operate Four Seasons Hotels and Resorts on Shura Island on the west coast of the Kingdom.
Meanwhile, Leejam Sports Co. has announced the signing of a Shariah-compliant credit facilities agreement of SR150 million with Emirates NBD.
According to a Tadawul statement, these facilities agreements include a multipurpose line of SR150 million, including a short-term loan to finance the company’s working capital requirements and a letter of credit to purchase fitness equipment for the firm’s operations in the UAE.
