RIYADH: Saudi Arabia’s Tadawul All Share Index advanced 0.26 percent, or 29.73 points, to close at 11,345.46 on Monday.
The total trading volume reached SR5.5 billion ($1.4 billion), with 132 companies experiencing growth and 116 declining.
The MSCI Tadawul 30 Index edged up 0.21 percent to 1,454.38, while the parallel market Nomu posted a stronger performance, gaining 0.75 percent to finish at 27,462.84.
Among the top performers, Tourism Enterprise Co. surged 9.64 percent to SR0.91.
Ayyan Investment Co. rose 4.28 percent to SR14.38, while Sumou Real Estate Co. gained 4.18 percent to close at SR42.82.
Buruj Cooperative Insurance Co. advanced 4.11 percent to SR18.99, and Tamkeen Human Resources Co. climbed 3.71 percent to end at SR55.90.
On the losing side, Miahona Co. recorded the steepest decline, falling 3.35 percent to SR25.98.
Umm Al-Qura Cement Co. dropped 3.21 percent to SR16.59. Saudi Kayan Petrochemical Co. slipped 2.31 percent to SR5.07.
Almarai Co. decreased 2.05 percent to SR50.15, and Halwani Bros. Co. fell 2.04 percent to SR45.20.
On the announcement front, Riyad Bank stated that it had commenced the offer of its US dollar-denominated Tier 2 trust certificates under its international trust certificate issuance program.
The issuance will be conducted through a special-purpose vehicle and is targeted at eligible investors in the Kingdom and internationally.
The certificates will have a minimum subscription of $200,000, with increments of $1,000 in excess thereof, and a par value of $200,000. They will have a maturity of 10 years, callable after five years.
The amount and terms of the offer will be determined subject to market conditions.
Riyad Bank has mandated DBS Bank, HSBC, and J.P. Morgan Securities, as well as Merrill Lynch, Mizuho, Riyad Capital, SMBC, and Standard Chartered as joint lead managers.
The certificates will be listed on the London Stock Exchange’s International Securities Market. Riyad Bank shares closed at SR28.90, down 0.48 percent.
Alinma Bank announced its intention to issue US dollar-denominated certificates under its own trust certificate issuance program, as per a board resolution dated May 13, which delegated authority to its chief executive officer.
The offer is also expected to be conducted through a special-purpose vehicle and directed at eligible investors in Saudi Arabia and abroad.
The issuance will be subject to regulatory approvals and compliance with applicable laws and regulations.
Alinma Bank has appointed Abu Dhabi Islamic Bank, Alinma Capital, and Dubai Islamic Bank, as well as Emirates NBD, Goldman Sachs, J.P. Morgan, and Standard Chartered as joint lead managers.
The amount and terms of the offer will be determined by market conditions. Alinma Bank shares ended the session at SR27.20, falling 0.87 percent.
