RIYADH: Saudi Arabia’s Tadawul All Share Index declined 42.36 points, or 0.38 percent, to close at 11,121.60 on Tuesday.
Total trading turnover reached SR5.57 billion ($1.48 billion), with 110 stocks posting gains and 141 declining.
The Kingdom’s parallel market Nomu also recorded a decrease, losing 92.51 points, or 0.35 percent, to settle at 27,245.12, as 33 stocks advanced and 43 retreated.
The MSCI Tadawul 30 Index declined by 8.26 points, or 0.58 percent, to finish at 1,420.6.
Rabigh Refining and Petrochemical Co. was the best-performing stock of the session, with its share price rising 9.97 percent to SR7.94. Fawaz Abdulaziz Alhokair Co. followed with a 7.96 percent increase to SR26.58.
Other gainers included Saudi Printing and Packaging Co., which rose to a fresh year high on Tuesday, closing at SR13.19 with a 7.41 percent gain.
On the losing side, Alandalus Property Co. saw the steepest decline, falling 2.82 percent to SR21.38. Tihama Advertising and Public Relations Co. dropped 2.76 percent to SR16.53, and Walaa Cooperative Insurance Co. declined 2.74 percent to SR28.52.
ACWA Power has secured shareholder approval to raise its share capital through a rights issue worth SR7.12 billion, the company announced following its extraordinary general assembly meeting.
The board’s recommendation to increase the capital through the issuance of new shares was ratified on June 30. This move aligns with the company’s previous disclosure, which detailed the number of new shares, the offer price, and the resulting increase in share capital.
According to the statement, eligible shareholders are those who own shares at the end of trading on the day of the general assembly and are listed in the company’s register with the Securities Depository Center by the close of the second trading day following the meeting.
The firm’s share price traded 2.36 percent lower to close at SR248, after opening at SR267.40.
Saudi Awwal Bank announced its intention to issue Saudi riyal-denominated Additional Tier 1 sukuk through a private placement as part of its capital-boosting strategy, the lender said in a bourse filing on Tuesday.
The sukuk will be offered under the bank’s established issuance program, with HSBC Saudi Arabia appointed as the sole arranger and dealer for the transaction and issuance process.
According to the statement, the exact value of the offering will be determined at a later stage, depending on prevailing market conditions at the time of issuance.
The bank stated that the planned issuance aims to strengthen its capital base in alignment with long-term strategic goals.
Saudi Awwal Bank’s share price closed 0.77 percent higher at SR33.90.
Riyad Bank announced that its subsidiary, Riyad Capital, has submitted applications to both the Capital Market Authority and the Saudi Exchange for a potential initial public offering, marking a significant step forward in the bank’s IPO preparations.
According to the statement posted on Tadawul, the application includes registering and offering a portion of Riyad Capital’s shares to the public, as well as listing them on the main market of Tadawul.
This development follows Riyad Bank’s earlier disclosure on April 4, in which it confirmed board approval to begin assessing and preparing for a potential listing of Riyad Capital.
The bank noted that the IPO remains contingent on obtaining necessary regulatory approvals and final endorsement by Riyad Bank, depending on market conditions and the best interests of its shareholders.
Riyad Bank’s share price closed 0.97 percent lower at SR28.46.
