https://arab.news/bfkaw
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 139.62 points or 1.15 percent, closing at 12,285.07.
The total trading turnover of the benchmark index was SR9.39 billion ($2.51 billion) as 152 listed stocks advanced, while 62 retreated.
On the other hand, the Kingdom’s parallel market Nomu slipped 136.28 points or 0.55 percent, closing at 24,557.64. This comes as 28 of the listed stocks advanced, with 34 retreating.
Meanwhile, the MSCI Tadawul Index rose 19.82 points or 1.25 percent, closing at 1,599.26.
The best-performing stock of the day was Saudi Research and Media Group. The company’s share price surged 10 percent to SR204.60.
Other top performers included Saudi Reinsurance Co. and Arab Sea Information System Co.
The worst performer was Walaa Cooperative Insurance Co., whose share price dropped by 3.25 percent to SR18.48.
Other poor performers were Filing and Packing Materials Manufacturing Co. and Aldrees Petroleum and Transport Services Co.
On the announcements front, the Saudi Exchange Co. launched the TASI50 Index on Sunday.
According to a Tadawul statement, the TASI50 is an index tracking the top 50 firms ranked by total market capitalization listed on the Saudi exchange.
Constituents in the index cover 90 percent of the free float market cap with a minimum annual traded value ratio of 5 percent, guaranteeing a comprehensive representation of the largest companies in the market. It can be used as a benchmark for exchange-traded funds, futures, options, and other financial products.
Furthermore, Almasane Alkobra Mining Co. announced the board of directors’ decision to distribute SR57.48 million in cash dividends to shareholders for the second half of the financial year 2023.
A bourse filing revealed that the total number of shares eligible for dividends amounted to 88.43 million, with the dividend per share standing at SR0.65.
In addition to this, the statement also revealed that the percentage of dividends to the share par value stood at 6.5 percent.
Meanwhile, Aldukheil Financial Group, in its capacity as the financial advisor and bookrunner of Middle East Pharmaceutical Industries Co., announced the firm’s intention to offer 6 million ordinary shares representing 30 percent of the company’s shares and the listing of its shares on the main market.
According to a Tadawul statement, the firm obtained approval from the stock exchange to list its shares on the main market.
Moreover, the firm also received approval from the Capital Market Authority for the initial public offering of the firm’s shares on the main market as well.