https://arab.news/9m3p5
- MSCI Tadawul Index gained 5.20 points, or 0.34%, to close at 1,512.85
- Parallel market Nomu gained 409.01 points, or 1.61%, to close at 25,746.97
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 49.15 points, or 0.41 percent, to close at 12,129.62.
The total trading turnover of the benchmark index was SR4.57 billion ($1.21 billion), as 129 of the stocks advanced and 90 retreated.
The Kingdom’s parallel market Nomu gained 409.01 points, or 1.61 percent, to close at 25,746.97. This comes as 34 of the listed stocks advanced, while 32 retreated.
The MSCI Tadawul Index gained 5.20 points, or 0.34 percent, to close at 1,512.85.
The best-performing stock of the day was Red Sea International Co., whose share price surged 9.88 percent to SR62.30.
Other top performers were Al-Baha Investment and Development Co. as well as The Co. for Cooperative Insurance.
The worst performer was Jamjoom Pharmaceuticals Factory Co., whose share price dropped by 4.55 percent to SR193.00.
Other bad performers were Arabian Shield Cooperative Insurance Co. and Rasan Information Technology Co.
Emaar, The Economic City has announced that it submitted the capital decrease from SR11.33 billion to SR5.7 billion application file to the Capital Market Authority.
According to a Tadawul statement, this will be done by canceling 563 million shares of the company, totaling SR5.6 billion.
The proposed capital decrease is one component of the company’s capital optimization plan recently announced, designed to stabilize its financial and operational positions and optimize its capital structure to enhance its ability to move forward with its growth plans.
Al-Munif Trading, Industry, Agriculture and Contracting Co. has announced the approval of Saudi Aramco to extend the current contract, which will end on Dec.31, for five years starting from the date of the end of the current contract.
Dallah Healthcare Co. has revealed the issuance of the non-objection of the General Authority for Competition on the completion of the economic concentration resulting from the transaction previously announced that will see Ayyan Investment Co. acquire Ayyan’s shares in Al-Ahsa Medical Services Co. amounting to 97.41 percent of the capital of Al-Ahsa, and to acquire Ayyan’s shares in Al-Salam Medical Services Co. amounting to 100 percent of the capital of Al-Salam.
A bourse filing revealed that the transaction was subject to several conditions, including obtaining the General Authority for Competition’s non-objection.
Dallah said that the transaction remains subject to a number of other conditions, including obtaining the approvals of the Capital Market Authority and the Saudi Exchange, as well as obtaining the requisite approvals of the shareholders of Dallah and Ayyan, and other conditions outlined in the previous announcement.
Shares of Red Sea International Co. on Sept. 22 hit the highest price in three years at SR 61.60 a piece, according to figures from Tadawul.