RIYADH: Amid market uncertainties, Saudi Arabia’s Tadawul All Share Index slightly slipped on Wednesday, as it shed 67.36 points or 0.63 percent to close at 10,572.70.
The total trading turnover of the benchmark index was SR6.63 billion ($1.77 billion) as 29 of the listed stocks advanced, while 198 declined.
ADES Holding Co., partially owned by Saudi Arabia’s Public Investment Fund, was the top gainer of the day in the main index. The company opened its trading on Wednesday with a base price of SR13.50 and saw its share price ascending 29.93 percent to SR17.54.
ADES Holding had offered 338.72 million shares, or 30 percent of its capital, in its initial public offering.
Other top gainers of the day were Al-Baha Investment and Development Co. and National Agricultural Development Co., whose share prices soared by 7.14 percent and 4.71 percent, respectively.
The worst performer of the day was Thimar Development Holding Co., as its share price edged down 8.78 percent to SR15.80.
On the other hand, Saudi Arabia’s parallel market Nomu shed 57.06 points to close at 22,220.95.
The MSCI Tadawul Index also went down 0.44 percent to 1,363.65.
On the announcements front, Rawasi Albina Investment Co. revealed that it had signed a five-month contract with Al-Fahd Co. for Trading, Industry and Contracting.
Under the contract worth SR10.55 million, Al-Fahd Co. will carry out the infrastructure works for the National Housing Co.’s Al-Ersal Land 51 project in Riyadh.
Meanwhile, Aldukheil Financial Group, the financial adviser for Riyal Investment Development Co., revealed that the IPO of the latter on the Kingdom’s parallel market Nomu was 145 percent subscribed.
According to a bourse filing, a minimum of 10 shares were allocated per subscriber for the IPO.
