RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 31.03 points, or 0.26 percent, to close at 11,740.66.
The total trading turnover of the benchmark index was SR6.11 billion ($1.62 billion), as 69 of the listed stocks advanced, while 154 retreated.
The MSCI Tadawul Index decreased by 4.29 points, or 0.29 percent, to close at 1,475.78.
The Kingdom’s parallel market Nomu decreased by 237 points, or 0.93 percent, to close at 25,284.32. This comes as 29 of the listed stocks advanced, while as many as 34 retreated.
The best-performing stock of the day was MBC Group Co., with its share price surging 5.05 percent to SR41.60.
Other top performers included Al-Babtain Power and Telecommunication Co. and CHUBB Arabia Cooperative Insurance Co., with share prices rising by 4.27 percent to SR41.50 and 4.25 percent to SR27, respectively.
Other notable performers included Saudi Co. for Hardware, with its share price rising by 4.08 percent to SR33.20, and Tanmiah Food Co., which saw a 3.99 percent increase to SR135.60.
The worst performer of the day was Al-Baha Investment and Development Co., with its share price falling by 7.69 percent to SR0.12.
Saudi Vitrified Clay Pipes Co. and Al Hassan Ghazi Ibrahim Shaker Co. also saw significant declines, with their shares dropping by 6.59 percent to SR39.70 and 6.34 percent to SR27.35, respectively.
Saudi Marketing Co. and Etihad Atheeb Telecommunication Co. experienced losses, with share prices decreasing by 4.57 percent to SR21.32 and 4.22 percent to SR81.70, respectively.
On the parallel market, the top performers of the day were Mayar Holding Co. and Mohammed Hadi Al Rasheed and Partners Co., with their share prices surging by 22.69 percent to SR4.65 and 6.64 percent to SR61, respectively.
Nomu’s worst performers included Armah Sports Co. and Future Care Trading Co., whose share prices dropped by 8.54 percent to SR83.50 and 8.19 percent to SR12.56, respectively.
Banque Saudi Fransi intends to issue Additional Tier 1 riyal-denominated sukuk through private placement within the Kingdom. The issuance will be part of the bank’s SR8 billion Additional Tier 1 Capital Sukuk Program.
The bank clarified in a statement on Tadawul that the decision was based on a board of directors’ resolution, which authorized certain members of the executive management with the necessary powers to establish the program and issue a series of sukuk as needed.
The bank also mentioned that Saudi Fransi Capital has been appointed as the sole book-runner, lead arranger, and lead manager for the potential private placement.
Regarding the value of the offering, the bank said that the number and value of the sukuk to be issued will be determined based on market conditions. The purpose of this issuance is to strengthen the bank’s capital base.
