Latest news with #Tadawul
Arab News
6 hours ago
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 11,095
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 118.18 points, or 1.05 percent, to close at 11,095.41. The total trading turnover of the benchmark index was SR4.52 billion ($1.21 billion), with 46 of the listed stocks advancing and 204 declining. The Kingdom's parallel market Nomu also shed 55.43 points to 27,301.46. The MSCI Tadawul Index declined by 1.09 percent to close at 1,421.31. The best-performing stock on the main market was SHL Finance Co. The firm's share price increased by 5.21 percent to SR22.62. The share price of SICO Saudi REIT Fund rose by 5.1 percent to SR4.33. Tourism Enterprise Co. also saw its stock price climb by 3.26 percent to SR0.95. Conversely, the share price of Alistithmar AREIC Diversified REIT Fund declined by 4.03 percent to SR9.05. On the announcements front, Saudi Co. for Hardware, also known as SACO, said that it signed an agreement valued at SR140.43 million to sell its warehouse in Al-Mashael district in Riyadh. In a Tadawul statement, SACO said that the proceeds from the sale will be used to repay existing bank loans and help support its future expansion plans. The firm further said that the 42,937-sq.-meter warehouse was sold to 6th Iradat Al Imdad Co., a limited liability company. The firm added that there are no related parties involved in the deal. The share price of SACO dropped by 1.02 percent to SR29.14. The shareholders of Saudi Lime Industries Co. approved a recommendation to increase its capital by 5 percent through a one-for-20 bonus share distribution, by capitalizing SR11 million from the firm's retained earnings account. The stock price of Saudi Lime Industries Co., listed on the parallel market, advanced by 4.77 percent to SR12.97.
Zawya
12 hours ago
- Business
- Zawya
Saudi Azm, Obeikan Glass shares to stop trading on Nomu ahead of Main Market transfer
Software development firm Saudi Azm for Communication and Information Technology Co., along with Obeikan Glass Co., will cease trading on the kingdom's parallel market Nomu from July 15 to make a switch to the Tadawul Main Market, following regulatory approval. Saudi Exchange has confirmed the shares will cease trading for five days in order to complete the transfer procedures, following which a listing date will be announced. Saudi Azm will transfer with an authorised capital of 30 million riyals ($8 million) and 60 million shares, while Obeikan Glass will move with an authorised capital of SAR 320 million and 32 million shares. Saudi Azm's and Obeikan Glass' move to TASI (main market) comes six months after the Saudi Exchange had rejected the requests on December 31, following the two companies failing to meet all transition requirements stipulated in the listing rules. In April 2024, Saudi Azm first announced it had received board approval to transfer its shares to TASI and had appointed Al Rajhi Capital as a financial advisor to handle the transaction. Meanwhile, Obeikan Glass, one of the largest float glass manufacturers in Saudi, had received board approval in December 2023 to transfer its shares from Nomu to TASI. (Writing by Bindu Rai, editing by Brinda Darasha)
Zawya
15 hours ago
- Business
- Zawya
Saudi's Sport Clubs fit for debut: IFR
The retail tranche of Sport Clubs Company's SR257.4m (US$69m) IPO was nearly five times covered, marking the third Tadawul listing in a row in which retail demand was not sufficient to cover the whole deal. The Saudi fitness centre operator doubled the size of the retail offering to 20% of the IPO due to robust demand. Retail tranches have typically been 10% but lately this has increased to 20%, which has coincided with cooling in retail interest. Deals are still attracting robust demand compared to other countries but are short of the double-digit levels that had become the norm. IPOs for low-cost carrier Flynas and hospital group Specialized Medical Company both lacked enough demand to cover the whole deal and have traded poorly, down 3% and 13.3%, respectively, as of Monday. Retail demand for SCC totalled SR247.7m for 6.86m shares at SR7.50 each. There were 259,690 retail investors participating who were allocated 10 shares each, with the rest awarded pro rata. Institutional demand continues to be robust, with SCC earlier attracting demand of SR11.35bn/US$3bn, around 45 times' coverage of the 80% allocated to those investors. The 34.3m shares in the IPO represent a 30% free-float. A trading date is yet to be set. BSF Capital is running the IPO.
Arab News
a day ago
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 11,213
RIYADH: Saudi Arabia's Tadawul All Share Index closed lower on Monday, falling 39.31 points, or 0.35 percent, to end the day at 11,213.59. The total trading turnover on the benchmark index reached SR4.54 billion ($1.21 billion), with 60 stocks advancing and 190 declining. The MSCI Tadawul 30 Index also retreated, shedding 5.46 points, or 0.38 percent, to close at 1,436.97. The Kingdom's parallel market Nomu declined by 80.73 points, or 0.29 percent, closing at 27,356.89. Of the listed stocks, 22 advanced while 56 retreated. The best-performing stock was Alistithmar AREIC Diversified REIT Fund, with its share price rising by 9.91 percent to SR9.43. Other top performers included Saudi Industrial Investment Group, which saw its share price rise by 4.56 percent to SR17.42, and Al Hassan Ghazi Ibrahim Shaker Co., which saw a 4.48 percent increase to SR29.40. On the downside, Emaar The Economic City posted the steepest drop of the day, falling 4.12 percent to SR13.73. Naseej International Trading Co. fell 4.03 percent to SR102.50, and MBC Group Co. dropped 3.79 percent to SR34.02. On the announcements front, Jarir Marketing Co. reported estimated net profits of SR197.2 million for the first half of 2025, marking a 15.2 percent increase from the same period last year. In a statement on Tadawul, the company attributed the estimated increase to a 4.5 percent rise in gross profit, driven by higher sales of after-sales services along with improved profit margins and an increase in other income. Jarir's shares gained 1.27 percent, closing at SR12.79. Advanced Petrochemical Co. also announced its estimated financial results for the same period. The firm's net profits were estimated to reach SR82 million, up by 95.2 percent from the same period last year. The company said that the increase was driven by an 8 percent rise in net revenues, lower propane and purchased propylene prices. Advanced Petrochemical Co. also announced the completion of construction and successful operational launch of its Propane Dehydrogenation plant, capable of producing 843,000 tonnes of propylene annually, along with two PolyPropylene plants operated by Advanced Polyolefins Industry Co. with a combined capacity of 800,000 tonnes per year. The facilities, located in Jubail Industrial City, mark a significant milestone in the company's expansion in the petrochemical sector, according to a statement. APOC, a joint venture between Advanced Global Investment Co. and SK Gas Petrochemical Pte., will begin contributing to Advanced Petrochemical Co.'s consolidated financial results starting in the third quarter of 2025. Advanced Petrochemical shares closed 0.32 percent higher at SR31.48.
Argaam
a day ago
- Business
- Argaam
Tharwah cancels 200,000 share buyback plan, recommends 10% capital hike
Altharwah Albashariyyah Co.'s (Tharwah) board of directors decided to cancel a previous recommendation to buy back 200,000 shares, or 4.25% of the company's capital, to retain as treasury shares, according to a Tadawul statement. The decision was due to circumstances related to the recommendation and as part of the company's commitment to comply with the applicable regulatory requirements. In a separate statement, the company said the board recommended increasing capital by 10% from SAR 23.53 million to SAR 25.88 million. The capital increase will be financed from the issue premium balance of SAR 37.44 million, as per 2024 financial statements.
