Saudi Arabia’s Tadawul All Share Index Ends Week in Green
Saudi Arabia’s Tadawul All Share Index ended the week in green, gaining 24.31 points, or 0.21 percent, to close at 11,397.14 after rising for four consecutive days. The total trading turnover of the benchmark index hit SR7.14 billion ($1.90 billion), as 113 stocks advanced, while 94 retracted on Thursday. The worst performer of the day was Leejam Sports Co., whose share price dipped by 4.2 percent. On the announcements front, Saudi Arabian Mining Co. said its shareholders approved the board’s recommendation to increase capital by 50 percent through a bonus share distribution. Meanwhile, National Medical Care Co., also known as Care, announced that it had signed a share purchase agreement to acquire the entire share capital of Jiwar Medical Services Co.
Top Performers and Worst Performers
Etihad Atheeb Telecommunication Co. and Astra Industrial Group were top performers, whose share prices soared by 5.63 percent and 5.18 percent, respectively. The top-performing stock on Thursday was Arabian Contracting Services Co., whose share price went up 7.5 percent to SR154.80. The worst performer of the day was Leejam Sports Co., whose share price dipped by 4.2 percent.
Saudi Arabian Mining Co.’s Capital Increase
Saudi Arabian Mining Co. (Ma’aden) said its shareholders approved the board’s recommendation to increase capital by 50 percent through a bonus share distribution. According to a Tadawul statement, the mining giant will distribute one share for every two shares held, thus capitalizing SR12.31 billion from the statutory reserve and retained earnings. The company’s share price went down by 0.69 percent to SR43.85.
National Medical Care Co.’s Acquisition Deal
National Medical Care Co., also known as Care, announced that it had signed a share purchase agreement to acquire the entire share capital of Jiwar Medical Services Co. In a statement to Tadawul, Care noted that the acquisition deal was made after obtaining all approvals from competent authorities. The company’s share price dropped by 2.36 percent to SR116.
Parallel Market Nomu and MSCI Tadawul Index
While parallel market Nomu gained 368.10 points to close at 21,849.68, MSCI Tadawul Index increased 0.16 percent to end the day at 1,509.41.
Conclusion
Saudi Arabia’s Tadawul All Share Index ended the week in green, gaining 24.31 points, or 0.21 percent, to close at 11,397.14 after rising for four consecutive days. The total trading turnover of the benchmark index hit SR7.14 billion ($1.90 billion), as 113 stocks advanced, while 94 retracted on Thursday. The worst performer of the day was Leejam Sports Co., whose share price dipped by 4.2 percent. On the announcements front, Saudi Arabian Mining Co. said its shareholders approved the board’s recommendation to increase capital by 50 percent through a bonus share distribution. Meanwhile, National Medical Care Co., also known as Care, announced that it had signed a share purchase agreement to acquire the entire share capital of Jiwar Medical Services Co. While parallel market Nomu gained 368.10 points to close at 21,849.68, MSCI Tadawul Index increased 0.16 percent to end the day at 1,509.41.