https://arab.news/cqj7v
RIYADH: Saudi-listed Riyadh Cement Co. has announced its board of directors' decision to appoint Salah Al-Rashed as board chairman.
The cement producer’s board has also appointed Khaled Al-Mulhem as vice chairman, the company said in a bourse filing.
Riyadh Cement produces building materials for commercial and architectural use, including exterior and interior walls, ceilings, mosaic tiles, terrazzo flooring, and white cement-based products.
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 185.3 points, or 1.69 percent, to close at 11,133.58.
The total trading turnover of the benchmark index was SR6.84 billion ($1.82 billion), as 205 of the listed stocks advanced, while 53 retreated.
The MSCI Tadawul Index increased, up 25.93 points, or 1.76 percent, to close at 1,496.09.
The Kingdom’s parallel market Nomu gained 145.25 points, or 0.62 percent, to close at 23,513.27. This comes as 35 of the listed stocks advanced, while 33 retreated.
The best-performing stock was Middle East Healthcare Co., with its share price surging 10 percent to SR36.30.
Other top performers included Bupa Arabia for Cooperative Insurance Co., which saw its share price rise by 7.89 percent to SR155.90, and Derayah Financial Co., which saw a 7.07 percent increase to SR26.66.
On the downside, Advanced Building Industries Co. recorded the biggest decline of the day, with its shares falling 4.45 percent to SR40.38.
Aldrees Petroleum and Transport Services Co. fell 4.4 percent to SR121.80, while CHUBB Arabia Cooperative Insurance Co. declined 3.77 percent to SR24.
On the announcement front, Saudi Arabian Mining Co. said it has commenced its offering of US dollar-denominated trust certificates, commonly known as sukuk.
The issuance, which runs from Jan. 22 to Jan. 29, is targeted at eligible investors in the Kingdom and internationally.
While the final size, pricing, maturity, and returns of the offering will be determined based on market conditions, the minimum subscription has been set at $200,000.
According to a Tadawul statement, Maaden has appointed a syndicate of 14 joint lead managers, including Albilad Investment, Citigroup, and Goldman Sachs, as well as HSBC, J.P. Morgan, and SNB Capital, to manage the issuance.
Maaden’s share price closed at SR72.45 on the main market, marking a 1.43 percent decrease.
