RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Thursday, gaining 70.12 points, or 0.65 percent, to close at 10,833.59.
The total trading turnover on the main index reached SR4.37 billion ($1.16 billion), with 174 stocks advancing and 74 declining.
The Kingdom’s parallel market Nomu gained 282.36 points to close at 26,615.66. The MSCI Tadawul Index edged up 0.72 percent to 1,401.67.
The best-performing stock on the main market was Thimar Development Holding Co., which jumped 10 percent to SR40.04.
Saudi Industrial Development Co. rose 9.96 percent to SR33.12, while Saudi Printing and Packaging Co. gained 5.6 percent to SR12.63.
Elm Co. posted the sharpest drop, falling 3.40 percent to SR881. Theeb Rent a Car Co. declined 3.03 percent to SR62.35, Nice One Beauty Digital Marketing Co. dropped 2.62 percent to SR24.13, and Al Mawarid Manpower Co. decreased 2.59 percent to SR 128.1.
On the announcements front, Group Five Pipe Saudi Co. posted a substantial increase in its net profit for the first half of the year, supported by strong sales growth, the company said in a filing on Wednesday.
According to the firm’s financial disclosure on the Saudi Exchange, net profit for the six months ending June 30 reached SR125.18 million, a significant rise from SR9.2 million recorded during the same period in 2024. This marks a year-on-year jump of over 1,259 percent.
The increase in profit was primarily driven by volume growth and lower production costs.
Group Five Pipe Saudi Co.’s share price traded 29.95 percent higher to close at SR38.96.
National Signage Industrial Co., also known as Sign World, has set the price range for its initial public offering between SR12 and SR15 per share, according to a statement issued by Yaqeen Capital, the company’s financial adviser and lead manager.
The offering consists of 1.5 million ordinary shares, representing 20 percent of Sign World’s post-listing issued share capital. The entire stake is allocated to qualified investors as part of the book-building process.
Yaqeen Capital said the bidding and book-building period for qualified investors will commence on Aug. 17 and close on Aug. 24.
Qualified subscribers may apply for a minimum of 10 shares and up to a maximum of 374,990 shares.
