United Arab Emirates EGA signs 3-year Guinean bauxite supply agreement with Chinese Bosai

IYADH: Tadawul’s TASI edged down in morning trading, down 0.14% to 10,923.48 points. The Nomu parallel market rose 0.43% to 23,695.58 points.

The biggest headlines on the move so far have been Development Works Food, National Gypsum Co and Sadr Logistics, up 9.94%, 9.9% and 7.14% respectively.

Shares of Sadr Logistics were trading at another record high of SR135 ($ 35.98) earlier.

Saudi firms Telecom Co., stc and Hail Cement Co. were among the biggest losers, down 4.73 and 4.32 percent respectively.

stc has witnessed 773 deals traded on its shares amounting to SR 10.8 billion as of December 12.

Subscribers injected SR 104.8 million into the Maadaniyh rights issue, covering 86.73% of the total shares offered. The unsubscribed share offering period will begin on December 14 and end on December 15.

Yanbu Cement Co. announced a 10% cash dividend to SR1 per share for the second half of 2021.

Tourism Enterprise Co. shareholders, shams, approved the board’s recommendation to reduce the share capital by 48.21%.

Moody’s maintained a stable outlook for Alrahji Company for Cooperative Insurance, giving it an A3 rating.

9:33 a.m. Saudi time: a one-week guide to preparing for trading in a volatile environment: Tadawul premarket

RIYAD: The Saudi stock market has taught investors to expect the unexpected during this volatile trading period, mostly caused by the novel omicron strain of the coronavirus.

Here is what you need to know before starting the trading week:

Saudi Tadawul’s main and parallel indices, TASI and Nomu, closed the previous week at 10,938.88 points and 23,594.98 points respectively.

In the six-day period ending December 9, TASl fell 1.83% while Nomu was edged up 0.08%.

The Kingdom’s second largest initial public offering of the year after ACWA Power, reaching $ 1 billion, Saudi Tadawul Holding Group climbed nearly 20% in its early days.

The group’s share price last closed at SR126 ($ 33.6), after registering the highest volume and value traded two days after it was listed on TASI.

The top performing stocks of the week were Sadr Logistics, Development Works Food and Wafrah for Industry.

Sadr Logistics continued their six-day winning streak to finish at a record high SR126.

Shares of Development Works Food and Wafrah for Industry rose 21.08% and 18.44% respectively in six days.

The rise of Development Works Food followed the recommendation of the board of directors on December 9 to increase the capital by SR 216 million through a rights issue.

am Saudi Wafrah’s request to increase its capital through a rights issue valued at SR 154.3 million is still pending approval from the Capital Market Authority. The request was submitted on December 1.

Petro Rabigh was the worst performing stock of the week, down 8.5% to SR21.2.

The fall in Petro Rabigh’s shares came after the company’s 13.76% share capital reduction recommendation, which was announced on December 6.

Here are some recent market movements:

Arabian Shield Co. announced the approval of the proposed merger with Alahli Takaful Co. in addition to the approval to increase the capital of the company to SR 638.5 million.

Meanwhile, after approving the merger, Alahli Takaful declared the start of the creditors opposition period on the merger agreement from December 12.

Al Hammadi Co. announced the approval to distribute cash dividends of SR 72 million for the year 2021, adding that interim dividends can be distributed on a semi-annual or quarterly basis in 2022.

Jabal Omar Development Co. and Bank AlBilad signed SR 1 billion loan facility agreement.

Al Moammar Information Systems Co. acquired a loan of SR 220 million compliant with Islamic Sharia law.

Saudi company Telecom Co., stc, set the final price of its secondary share offering at SR 100 per share.

Two of the Kingdom’s largest insurance companies, Saudi Enaya and Amana, announced the board’s circular regarding their previously agreed merger deal.

Ownership after the merger will be as follows: a controlling 55% stake for Saudi Enaya and the remaining 45% will be held by Amana, as announced on December 9.

Jahez International Company for Information Systems Technology has set the price range for its IPO on Nomu between SR750 and SR850 per share.

The offer period will begin on December 23 and end on December 26.

Saudi Economic and Development Securities Co. increased the value of its REIT fund assets by almost SR 702 million through additional real estate units.

Ataa Educational Co. announced a 1247.4% increase in its net profit after zakat and taxes for the three-month period ending October 31, 2021, unlike the corresponding period last year.

This came as the number of admitted students increased by 49 percent following the acquisition of other educational institutions.

Saudi Economic and Development Securities Co.’s REIT Equity Fund subscription period will begin today, December 12, and end on December 16.

Trading of the SR 300 million rights issue from Batic Investment and Logistics Co. will begin on December 13 and end on December 23.

Comments are closed.