The Capital Market Authority (CMA) has approve the National Medical Care Company’s plans for an initial public offering (IPO).
The CMA board has issued its resolution approving IPO of 13,500,000 shares representing 30.1 percent of the company’s share capital, according to a statement posted on the Tadawul website.
The offering will comprise 6,750,000 new shares representing 15.05 percent of the company’s capital in addition to 6,750,000 existing shares representing a further 15.05 percent of the company’s capital.
A portion of the offered shares will be allocated to mutual funds and authorized people, according to the statement.
The company’s shares will be offered from Feb.4 Feb. 10, once the book-building process is complete.
The company’s prospectus will be published within sufficient time prior to the start of the subscription period.
National Medical Care Company IPO backed
National Medical Care Company IPO backed
Closing Bell: Saudi main index closes in red at 10,414
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06.
Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining.
The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67.
The MSCI Tadawul Index edged down 0.45 percent to 1,368.36.
Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90.
Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42.
Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31.
AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29.
On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu.
In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026.
United Mining Industries Co.’s share price was unchanged, closing at SR42.54.
Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025.
According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings.
Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.
