RIYADH: Saudi Arabia’s Tadawul All Share Index climbed on Wednesday, gaining 172.1 points, or 1.59 percent, to close at 11,004.53.
The total trading turnover on the benchmark index was SR4.61 billion ($1.23 billion), with 191 listed stocks advancing and 50 declining.
The Kingdom’s parallel market Nomu surged by 257.9 points to close at 27,307.74.
Meanwhile, the MSCI Tadawul Index edged up by 1.67 percent to 1,406.49.
The best-performing stock on the main market was Saudi Industrial Investment Group, with its share price surging 7.03 percent to SR17.36.
The share price of ACWA Power Co. also rose by 6.72 percent to SR269.80.
Al-Babtain Power and Telecommunication Co. saw its stock price increase by 5.40 percent to SR5.40.
Conversely, the share price of Saudi Steel Pipe Co. fell by 6.33 percent to SR56.20.
Saudi Research and Media Group also saw a dip, with its share price easing 2.26 percent to SR127.
On the announcements front, Saudi National Bank completed its offer of Saudi riyal-denominated Additional Tier 1 sukuk, with the settlement finalized on June 3.
According to a statement on the Saudi Exchange dated May 11, the issuance was conducted through a private offer to eligible investors in the Kingdom. The total value of the sukuk offering amounted to SR1.73 billion.
The bank issued 1,730 sukuk, each with a par value of SR1 million. The sukuk will offer an annual return of 6 percent from the issue date until June 3, 2030.
The share price of Saudi National Bank increased by 0.88 percent to close at SR34.45.
The announcement coincided with the implementation of the unified regulation for cross-border registration of investment funds among Gulf Cooperation Council countries, which came into effect in 2025, according to the Capital Market Authority.
The regulation outlines requirements for registering and marketing investment funds across GCC countries and introduces a dedicated regulatory guide.
It aims to clarify procedures for handling both local and Gulf-based funds, enhance financial market services, and reduce regulatory challenges.
Additionally, the framework seeks to support mechanisms that attract international investments to the Saudi financial market and boost foreign ownership in investment funds.
The broader goal is to improve liquidity in regional financial markets, enhance the competitiveness of GCC economies, and foster integration by unifying the policies and systems governing domestic, regional, and foreign investment activities.
The regulation also aims to ensure a transparent and stable investment environment.
Under the framework, the legislative committee in each host country will have the authority to set standards for approving fund registrations and supervising funds within its jurisdiction, including overseeing the appointed agent and their interactions with investors.
Cross-border registration must be conducted through the capital market authorities of both the fund’s country of origin and the host country.
The regulation allows investment funds established in any GCC member state to be promoted in other countries applying the framework.
It also outlines the process for offering Saudi funds in Gulf markets, with a focus on aligning with regulatory review mechanisms and cross-border registration requirements to ensure full compliance with approved guidelines.
