Arab News, Wednesday, Jun 07, 2023 | Thul-Qidah 18, 1444
Closing bell: Saudi bourses stay steady for the 3rd consecutive day
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index remained steady for the third consecutive
day, as it edged up 23.28 points, or 0.21 percent, to close at 11,316.87 on
Tuesday.
While parallel market Nomu gained 112.78 points
to reach 21,428.78, the MSCI Tadawul Index went up 0.05 percent to close at
1,497.65.
The total trading turnover of the benchmark index
was SR6.69 billion ($1.78 billion) as 104 listed stocks advanced, while 106
retreated.
The best-performing stock on the day was Abdullah
Al Othaim Markets Co., whose share price surged 8.19 percent to SR14.80.
The Power and Water Utility Co. for Jubail, and
Yanbu and Aldrees Petroleum and Transport Services Co. were the other top
gainers, as their share prices soared 7.07 percent and 6.96 percent,
respectively.
Tihama Advertising and Public Relations Co. was
the worst performer with its share price dropping 2.52 percent to SR19.36.
On the announcements front, Saudi Arabia’s Capital
Markets Authority approved the public listing of Fad International Co., Atlas
Elevators General Trading & Contracting Co., Clean Life Co., and Riyal
Investment & Development Co. on Nomu.
According to bourse filings, Riyal Investment and
Clean Life will offer 720,000 and 300,000 shares, representing 9 percent and 20
percent of their capital, respectively.
On the other hand, Fad International and Atlas
Elevators will float 240,000 and 1.2 million shares, accounting for 20 percent
of each of their capital.
Meanwhile, CMA issued a resolution to approve
Al-Rajhi Co. for Cooperative Insurance’s request to increase its capital from
SR400 million to SR1 billion by giving 1.5 bonus shares for every existing share
owned by the shareholders. Its share price edged up 0.98 percent to SR123.60.
The authority also approved a request
by Takween Advanced Industries Co. to reduce its capital from SR950 million to
SR464.65 million.
According to a statement to Tadawul, the move will
bring down the company’s number of shares to 46.464 million from 95
million. Its share price edged up 1.42 percent to SR10.