RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 138.80 points, or 1.14 percent, to close at 12,268.42.
The total trading turnover of the benchmark index was SR7.47 billion ($1.99 billion), with 117 of the listed stocks advancing and 100 declining.
The Kingdom’s parallel market, however, shed 62.60 points, or 0.24 percent, to close at 25,684.37.
The MSCI Tadawul Index gained 22.93 points, or 1.52 percent, to 1,535.78.
The best-performing stock on the main market was Red Sea International Co. The firm’s share price surged by 9.95 percent to SR68.50.
Other top performers were Saudi Fisheries Co. and ACWA Power Co., whose share prices soared by 9.85 percent and 6.57 percent, respectively.
The worst performer of the day was Maharah Human Resources Co., as its share price slipped by 5.37 percent to SR7.22.
On Nomu, the best performers were Mayar Holding Co. and Banan Real Estate Co., whose share prices increased by 9.71 percent and 9.26 percent, respectively.
On the announcements front, Riyad Bank said it is planning to issue an additional dollar-denominated Tier 1 capital sukuk to improve the financial institution’s capital and utilize it for general banking purposes.
In a Tadawul statement, Riyad Bank said that the issuance is expected to be through a special purpose vehicle and will be available for domestic and international investors.
The bank has appointed HSBC Bank, Kamco Investment Co., Merrill Lynch International, and Mizuho International as joint lead managers and bookrunners for the issuance.
Other joint lead managers and bookrunners are Morgan Stanley & Co., Riyad Capital, and SMBC Nikko Capital Markets, as well as Limited, Standard Chartered Bank, and Warba Bank.
Al Moammar Information Systems Co. said it signed a letter of intent with Saudi Fransi Capital on behalf of Saudi Data Center Fund 1 to expand the data centers’ capacity by 64 megawatts.
In a Tadawul statement, the company said that the capacity expansion of the data centers will have an estimated value of SR1.9 billion to SR2.5 billion.
According to the statement, the letter of intent is valid for 90 days from the day of signing until both parties reach a final agreement.
