RIYADH: Saudi Arabia’s Tadawul All Share Index concluded Thursday’s trading session at 11,244.45 points, marking an increase of 114.81 points or 1.03 percent.
The total trading turnover of the benchmark index was SR5.625 billion ($1.5 billion), as 139 of the listed stocks advanced, while 110 retreated.
The MSCI Tadawul Index also increased by 19.52 points, or 1.37 percent, to close at 1,443.46.
The Kingdom’s parallel market Nomu reported a decrease, losing 88.34 points, or 0.32 percent, to close at 27,287.50 points. This comes as 37 of the listed stocks advanced while 38 retreated.
The index’s top performer, Fawaz Abdulaziz Alhokair Co., saw a 9.85 percent increase in its share price to close at SR29.
Other top performers included Saudi Ceramic Co., which saw a 6.26 percent increase to reach SR31.90, while Halwani Bros. Co.’s share price rose by 5.55 percent to SR44.86.
Middle East Healthcare Co. also recorded a positive trajectory, with share prices rising 5.09 percent to reach SR57.80.
Al-Rajhi Co. for Cooperative Insurance was TASI’s worst performer, with the company’s share price falling by 2.91 percent to SR123.30.
Saudi Industrial Export Co. followed with a 2.51 percent drop to SR2.33. Ades Holding Co. also saw a notable decline of 2.32 percent to settle at SR13.06.
Americana Restaurants International PLC and Naseej International Trading Co. were among the top five poorest performers, with shares dropping by 2.08 percent to settle at SR2.35 and 1.96 percent to sit at SR100, respectively.
On the announcement front, Riyad Bank announced its intention to issue tier 2 trust certificates denominated in US dollars under its updated international trust certificate issuance program, the bank said on Thursday.
According to the bank’s statement on Tadawul, the issuance — approved by its board on August 9 — is expected to be carried out through a special purpose vehicle and offered to eligible investors both in Saudi Arabia and internationally.
The offering is part of the bank’s broader capital-raising initiative aimed at general banking purposes, and its size and terms will be determined based on prevailing market conditions at the time of issuance.
The Saudi lender has appointed Standard Chartered Bank, HSBC Bank, Merrill Lynch International, and J.P. Morgan Securities, as well as SMBC Group, Mizuho International, DBS Bank Ltd, and Riyad Capital as joint lead managers for the proposed offer.
The proposed issuance of trust certificates will proceed following approvals from relevant regulatory bodies and will comply with all applicable laws and regulations.
Riyad Bank’s share price traded 2.54 percent higher on Thursday to close at SR28.36.
