Arab News, Thu, Apr 25, 2024 | Shawwal 16, 1445
Closing Bell: TASI edges down to close at 12,355 points
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index
dipped on Wednesday, losing 128.72 points, or 1.03 percent, to close at
12,355.69.
The total trading turnover of the benchmark index
was SR8.45 billion ($2.25 billion) as 41 of the listed stocks advanced, while
187 retreated.
Similarly, the MSCI Tadawul Index decreased by
14.78 points, or 0.95 percent, to close at 1,548.62.
Also, the Kingdom’s parallel market Nomu dipped,
losing 365.84 points, or 1.37 percent, to close at 26,326.12. This comes as 17
of the listed stocks advanced, while 45 retreated.
The best-performing stock of the day was Al-Rajhi
Co. for Cooperative Insurance as its share price surged by 9.87 percent to
SR138.
Other top performers include Al Sagr Cooperative
Insurance Co. and First Milling Co., whose share prices soared by 6.38 percent
and 5.63 percent, to stand at SR35.85 and SR78.80, respectively.
In addition to this, other top performers included
Batic Investments and Logistics Co. and Saudi Research and Media Group.
The worst performer was Al-Baha Investment and
Development Co., whose share price dropped by 7.14 percent to SR0.13.
Other weak performers were National Co. for
Learning and Education as well as Arriyadh Development Co., whose share prices
dropped by 5.95 percent and 5.91 percent to stand at SR148.60 and SR22.60,
respectively.
Moreover, other subdued performers also include
Red Sea International Co. and AYYAN Investment Co.
On the Kingdom’s parallel market Nomu, the
best-performing stock of the day was Osool and Bakheet Investment Co., as its
share price surged by 12.05 percent to SR40.90.
Other top performers on Nomu include Arabian
Plastic Industrial Co. and Lana Medical Co., with their share prices soaring by
7.42 percent and 3.59 percent, respectively, reaching SR37.65 and SR41.85.
The worst performer was Jahez International Co.
for Information System Technology, whose share price dropped by 5.88 percent to
SR32.
Other weak performers were Alhasoob Co. as well as
Aqaseem Factory for Chemicals and Plastics Co., whose share prices dropped by
3.61 percent and 3.38 percent to stand at SR64.10 and SR62.80, respectively.
On the announcements front, HSBC Saudi Arabia,
serving as sole financial advisor, joint bookrunner, underwriter, and lead
manager, has announced the intention of Dr. Soliman Abdel Kader Fakeeh Hospital
Co., known as Fakeeh Care Group, to proceed with its initial public offering on
the main market of Saudi Exchange.
According to a statement, the offering will
include 49.8 million ordinary shares, with 19.8 million existing shares and 30
million new shares upon completion.
This offering is set to represent 21.47 percent of
the company's share capital post-capital increase.
Saudi Exchange and the Capital Market Authority
approved the listing and IPO, respectively, with the pricing of shares to be
determined after the book-building period.