RIYADH: Saudi Arabia’s Tadawul All Share Index rose by 57.75 points, or 0.49 percent, to close at 11,900.30 on Sunday.
The benchmark index saw a total trading turnover of SR4.14 billion ($1.10 billion), with 138 stocks advancing and 80 declining.
The Kingdom’s parallel market Nomu fell by 164.65 points, or 0.63 percent, to finish at 25,769.95, as 19 stocks advanced and 46 retreated.
The MSCI Tadawul Index increased by 7.12 points, or 0.48 percent, ending the day at 1,478.60.
The top performer of the day was Saudi Fisheries Co., with its share price surging 9.93 percent to SR25.35.
Other top gainers included Amlak International Finance Co. and Saudi Arabian Cooperative Insurance Co., with their share prices rising by 7.59 percent and 7.36 percent, respectively.
The worst performer was Al-Baha Investment and Development Co., which saw its share price drop by 5.56 percent to SR0.17. Middle East Specialized Cables Co. saw a decline of 1.99 percent, while First Milling Co. dropped by 1.83 percent.
On the announcements front, Riyad Capital, acting as the sole financial adviser, lead manager, bookrunner, and underwriter for Fourth Milling Co.’s initial public offering, has revealed the offering price range and the start of the institutional book-building period.
According to a Tadawul statement, the price range for the offering is set between SR5 and SR5.30 per share, with the book-building period running from Sept. 15 to 19.
The offering includes 162 million ordinary shares, representing 30 percent of Fourth Milling’s current share capital. Participating parties can apply for a minimum of 300,000 shares, with a maximum of 26.99 million shares available.
The financial adviser may reduce the number of shares allocated to participating parties to 129.6 million, or 80 percent of the total offer, to accommodate individual demand. Up to 32.4 million shares, or 20 percent, will be allocated to individual subscribers.
The total offering size is projected to range from SR810 million to SR858.6 million, suggesting a market capitalization of SR2.7 billion to SR2.8 billion at listing. The company will have a free float of 30 percent of shares post-listing.
The Capital Market Authority has also approved the registration and offering of 3 million shares of Multi Business Group for Projects Co., representing 20 percent of the firm’s share capital, in the parallel market. The offer will be limited to qualified investors, with the prospectus to be published ahead of the offering.
The CMA also approved the registration and offering of 337,500 shares of Digital Research Co. and 250,000 shares of Balsm Alofoq Medical Co., both representing 20 percent of each firm’s share capital, in the parallel market.
The offering for Al-Majed for Oud Co. was held on Sept. 15, with Saudi Fransi Capital serving as the lead manager and Banque Saudi Fransi and Al-Rajhi Bank acting as receiving entities. The retail offering comprised 1.5 million shares, each priced at SR94.
