Latest news with #Nomu
Arab News
2 days ago
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 10,990
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Thursday, as it shed 62.35 points, or 0.56 percent, to close at 10,990.41. The total trading turnover of the benchmark index was SR10.20 billion ($2.72 billion), with 169 of the listed stocks advancing and 74 declining. The Kingdom's parallel market Nomu also dropped 123.20 points to close at 26,809.75. The MSCI Tadawul Index declined by 0.70 percent to 1,403.80. The best-performing stock on the main market was Saudi Reinsurance Co. The firm's share price soared by 9.31 percent to SR50.50. The share price of East Pipes Integrated Co. for Industry increased by 7.83 percent to SR124. Arabian Drilling Co. also saw its stock price edging up by 5.12 percent to SR84.20. Conversely, the share price of Makkah Construction and Development Co. declined by 5.65 percent to SR96.80. On the announcements front, Al Moammar Information Systems Co., also known as MIS, said that it signed a contract valued at SR58.93 million with the Saudi Data and Artificial Intelligence Authority to operate and maintain the National Unified Visa Platform. In a Tadawul statement, the company stated that the contract is valid for 36 months, with no related parties involved in the deal. MIS added that the contract is expected to have an impact on the company's financial results starting from the third quarter of this year. The share price of MIS rose by 1.66 percent to SR134.80. Al Kathiri Holding Co. said that its subsidiary, Saraya Al Diyar Investment Co., has entered into a long-term lease agreement valued at SR143.1 million with the Aseer Municipality to build and operate a mixed-use hotel and commercial complex in Abha. Under the deal, Saraya Al Diyar Investment Co. will establish a four-star hotel with 180 keys, as well as retail and entertainment facilities in the project that spans a total area of 53,000 sq. meters. The new contract is in line with Al Kathiri Holding's strategic direction to diversify its investment portfolio and expand into promising, high-impact sectors, aligning with the goals of Saudi Vision 2030, the company said in the statement. Al Kathiri Holding Co.'s share price was unchanged at SR2.08 by the end of Thursday's trading.
Zawya
2 days ago
- Business
- Zawya
Asas Makeen's Saudi IPO 19 times oversubscribed, raises $415mln
The initial public offering (IPO) of Saudi Arabia's Asas Makeen Real Estate Development and Investment Company has been oversubscribed by more than 19 times, as investors capitalise on the kingdom's real estate boom. The offering, which ran from May 19 to 25, 2025, received bids for nearly 19.5 million shares, raising a total of more than SAR 1.56 billion ($415 million), according to Yaqeen Capital, the financial advisor and lead manager for the IPO. The company had offered a 10% stake or one million shares on the Saudi Stock Exchange Parallel Market Nomu, with the offering price set at SAR 80 per share. The listing of the company's shares on Nomu will be determined after the required procedures with the Saudi Stock Exchange are finalised. The Saudi real estate market has demonstrated strong momentum, with transaction volumes reaching $29 billion during the first three months of the year, according to CBRE Middle East. The growth has been supported by government initiatives and heightened investor confidence. (Writing by Cleofe Maceda; editing by Seban Scaria)
Argaam
3 days ago
- Business
- Argaam
ASAS Makeen IPO on Nomu 1949% covered
Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of ASAS Makeen Real Estate Development Co., announced the completion of the offering on the Nomu -Parallel Market, which was 1949.5% oversubscribed at SAR 80 a share. A total of 19.49 million shares were requested, representing a subscription value of SAR 1.56 billion during the offering period from May 19 to 25, the brokerage said in a statement to Tadawul on May 28. Yaqeen Capital will finalize the required procedures with Tadawul before determining ASAS Makeen's debut date. According to Argaam 's data, ASAS Makeen earlier announced floating 1 million shares on Nomu at a nominal value of SAR 80 each. These shares represent 10% of the company's SAR 100 million capital, divided into 10 million shares at a par value of SAR 10 each.
Arab News
3 days ago
- Business
- Arab News
Closing Bell: Saudi main index rises to close at 11,052
RIYADH: Saudi Arabia's Tadawul All Share Index advanced on Wednesday, closing higher by 127.58 points, or 1.17 percent, to reach 11,052.76, reflecting broad market optimism. Trading activity remained robust, with a total turnover of SR4.57 billion ($1.21 billion). Of the listed stocks, 202 posted gains while 44 declined. The Kingdom's parallel market, Nomu, also recorded gains, rising 340.91 points, or 1.28 percent, to close at 26,932.95. The market saw 48 advancing stocks against 34 decliners. Meanwhile, the MSCI Tadawul 30 Index climbed 15.12 points, or 1.08 percent, ending the session at 1,413.70. Fawaz Abdulaziz Alhokair Co. emerged as the session's top performer, with its share price jumping 5.77 percent to SR16.50. Ataa Educational Co. and Kingdom Holding Co. followed closely, gaining 5.46 percent and 5.22 percent to close at SR61.80 and SR8.66, respectively. On the downside, United Carton Industries Co. registered the steepest decline, falling 4.87 percent to SR46.85. Banan Real Estate Co. dropped 2.4 percent to SR4.48, while Nama Chemicals Co. slipped 1.78 percent to SR27.55. On the announcements front, Saudi AZM for Communication and Information Technology Co. disclosed it has submitted a request to transfer its listing to the main market. Additionally, the initial public offering for Flynas Co. began on May 28 and will conclude on June 1. The offering is priced at SR80 per share, with a retail tranche comprising 10.25 million shares. According to a statement, BSF Capital is the lead manager. Alkathiri Holding Co. announced that its subsidiary has signed a 50-year lease agreement valued at SR143 million with the Asir Region Municipality to develop a commercial and hospitality project in the city of Abha. According to a statement published on the Saudi stock exchange, the project will feature a four-star hotel with a capacity of 180 keys, alongside retail and entertainment facilities. The development aims to boost tourism and enhance commercial services in the Asir region. The lease will officially begin upon the land handover by the Investment Committee of the Asir Region Municipality. Shares of Alkathiri Holding closed Wednesday's trading session at SR2.06, marking a 1.96 percent gain. In a separate disclosure, Mufeed Co. announced that its board of directors has recommended to the ordinary general assembly the transfer of its statutory reserve balance — totaling SR3.49 million, as reported in the financial statements for the year ended Dec. 31, 2024 —to retained earnings.
Argaam
3 days ago
- Business
- Argaam
Axelerated Solutions to make Nomu debut on June 1
The Saudi Exchange (Tadawul) announced that Axelerated Solutions for Information and Communication Technology Co. 's shares will list and start trading on the Nomu -Parallel Market on June 1, with the symbol 9637 and ISIN Code SA16AGDKMIH2. The stock will trade with daily and static price fluctuation limits of +/-30% and +/-10%, respectively, according to a statement today, May 28. For More IPOs Separately, the Securities Depository Center Co. (Edaa) said Axelerated Solutions's subscribed securities were deposited today into the accounts of eligible shareholders. According to Argaam data, the company earlier floated 3 million shares on Nomu at SAR 27 per share. The offering was 208.10% subscribed. The offered shares represented 10.71% of the company's SAR 28 million post-IPO capital, divided into 28 million shares with a nominal value of SAR 1 each.
