https://arab.news/6zbna
- MSCI Tadawul Index increased by 6.27 points, or 0.42%, to close at 1,510.67
- Parallel market Nomu surged, gaining 600.43 points, or 2.45%, to close at 25,123.38
RIYADH: Saudi Arabia’s Tadawul All Share Index surged on Sunday, gaining 74.99 points, or 0.63 percent, to close at 12,069.21.
The total trading turnover of the benchmark index was SR5.69 billion ($1.51 billion), as 189 of the listed stocks advanced, while 35 retreated.
The MSCI Tadawul Index increased by 6.27 points, or 0.42 percent, to close at 1,510.67.
The Kingdom’s parallel market Nomu surged, gaining 600.43 points, or 2.45 percent, to close at 25,123.38. This comes as 48 of the listed stocks advanced, while 20 retreated.
The best-performing stock of the day was Fawaz Abdulaziz Alhokair Co., with its share price surging by 9.98 percent to SR13.44.
Other top performers included Development Works Food Co., which saw its share price rise by 9.86 percent to SR140.40, and Batic Investments and Logistics Co., which saw a 9.38 percent increase to SR4.08.
The worst performer of the day was Al-Baha Investment and Development Co., whose share price fell by 9.52 percent to SR0.38.
Al Majed Oud Co. and Anaam International Holding Group also saw declines, with their shares dropping by 5.95 percent and 2.16 percent to SR158 and SR1.36, respectively.
Saudi Advanced Industries Co. has announced its estimated financial results for the period ending on Sept. 30. SAIC’s shares advanced in today’s trading session, surging by 4.95 percent to reach SR37.10.
According to a Tadawul statement, the firm recorded a net profit of SR285.53 million in the first nine months of the year, reflecting a 156.84 percent surge compared to the same period in 2023.
The rise in net profit for the current period, compared to the same period last year, is driven by higher revenue, despite increases in general and administrative expenses, financing costs, and zakat expenses.
The Saudi Exchange has also announced the issuance of its resolution approving Shatirah House Restaurant Co. request to transfer from Nomu to the main market, with a capital of SR35 million and 35 million shares.
The company’s shares will continue to be traded in the parallel market until the end of the period for publishing the transfer document, accordingly, the issuer must publish the transfer document within three trading sessions following the announcement of Saudi Exchange’s approval of the transfer request.
The transfer document will be available to the public for viewing on the websites of the issuer, Saudi Exchange and the financial adviser for a period of ten trading sessions.
Accordingly, the trading of the issuer’s shares will cease starting from the day following the end of the period for publishing the transfer document for a period not exceeding five trading sessions, and the transfer procedures will begin.
Saudi Exchange will also announce the cease of trading the shares and the start date of listing the issuer’s shares in the main market as soon as the procedures are completed.
Tamkeen Human Resources Co., one of Saudi Arabia’s premier providers of innovative human resources solutions, has announced the price range for its initial public and the commencement of the institutional book-building period for participating parties.
The price range for the offering has been set between SR46 and SR50 per share. The institutional book-building period commenced Oct. 13 and will end on Oct. 17.
The offering will also consist of a secondary offering of 7.95 million offer shares, representing 30 percent of the company’s total issued share capital.
It’s net proceeds will be distributed to the selling shareholders. The company will not receive any part of the proceeds from the offering.
The final price at which all subscribers in the offering will purchase shares will be determined at the end of the book-building period.