https://arab.news/nd9s8
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 77.24 points, or 0.64 percent, to close at 12,157.61.
The total trading turnover of the benchmark index was SR7.37 billion ($1.96 billion) as 157 of the listed stocks advanced, while 64 retreated.
The MSCI Tadawul Index increased by 6.82 points, or 0.45 percent, to close at 1,520.39.
The Kingdom’s parallel market Nomu decreased by 31.22 points, or 0.12 percent, to close at 25,887.91. This comes as 36 of the listed stocks advanced, while as many as 32 retreated.
The best-performing stock of the day was AYYAN Investment Co., with its share price surging by 9.97 percent to SR19.42.
Other top performers include the Miahona Co. and Al Sagr Cooperative Insurance Co., whose share prices soared by 9.88 percent and 9.41 percent, to stand at SR42.25 and SR24.88, respectively.
National Gas and Industrialization Co. and Al-Baha Investment and Development Co. were also amongst the top gainers.
The worst performer was the Mediterranean and Gulf Insurance and Reinsurance Co. whose share price dropped by 2.46 percent to SR31.70.
Other underperformers included Baazeem Trading Co. and Arabian Pipes Co., with their share prices declining by 1.53 percent to SR64.30 and 1.20 percent to SR131.40, respectively.
Saudi Public Transport Co. and Red Sea International Co. also experienced declines in their stock prices.
Value Capital Co., serving as the financial advisor and lead manager, announced that Tharwah Co. intends to offer 705,735 ordinary shares, representing 15 percent of its total shares post-offering. The company’s shares will be listed on Nomu.
Tharwah Co.’s application for listing on the parallel market. was approved by the Saudi Exchange on May 19, and the Capital Market Authority approved the offering on June 3. The price per share for subscribers will be determined after the book-building period. The one-week offering period is scheduled to commence on Aug. 4.
Alkhabeer Capital, a Shariah-compliant investment and financial services firm, has announced the listing and commencement of trading for the Alkhabeer Diversified Income Fund 2030 on the Saudi Exchange.
In an official statement, the fund reported successful participation from a diverse group of investors, including individuals and institutions, during its initial public offering.
The IPO concluded on June 13, attracting 144,132 subscribers and raising a total of SR305.4 million.