https://arab.news/ca7wf
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 102.53 points, or 0.83 percent, to close at 12,271.77.
The total trading turnover of the benchmark index was SR6.20 billion ($1.65 billion), as 81 of the stocks advanced and 142 retreated.
The Kingdom’s parallel market Nomu gained 83.19 points, or 0.33 percent, to close at 25,610.66. This comes as 39 of the listed stocks advanced, while 24 retreated.
The MSCI Tadawul Index lost 16.57 points, or 1.07 percent, to close at 1,532.20.
The best-performing stock of the day was BinDawood Holding Co., whose share price surged 6.01 percent to SR7.94.
Other top gainers were Thimar Development Holding Co. as well as Americana Restaurants International PLC - Foreign Co.
The worst performer was Dallah Healthcare Co., whose share price dropped by 4.98 percent to SR160.40. Halwani Bros. Co. and Astra Industrial Group also saw their shares decline.
Riyad Bank has announced the completion of the $750 million offer of its US dollar-denominated additional tier 1 capital sustainable sukuk under its international additional tier 1 capital Sukuk program.
The program refers to a type of Islamic financial instrument designed to meet regulatory capital requirements while adhering to Shariah principles. These sukuk are issued by banks and financial institutions to raise capital, specifically classified as Tier 1 capital, which is crucial for maintaining solvency and supporting growth.
According to a Tadawul statement, the total number of sukuk stands at 3,750 based on the minimum denomination and total issue size at a par value of $200,000 and a return of 5.5 percent per annum and a maturity of perpetual, callable after five years.
The sukuk may be redeemed in certain cases as detailed in the offering circular in relation to the sukuk. It will be listed on the London Stock Exchange’s International Securities Market.
Dr. Sulaiman Al Habib Medical Services Group Co. has announced that it has signed a Shariah-compliant banking facilities agreement with Al Rajhi Bank worth SR1.3 billion for 13 years.
A bourse filing revealed that the amount will be utilized in financing the following projects of the group: Sehat AlHamra Hospital, Women’s Health Hospital, and Sehat Alkharj Hospital as well as the Medical Centers affiliated with Al-Marakez Al-Awwalyah for Healthcare Co.