Saudi Arabia’s Rawabi Energy concludes $1.9bn syndicated financing 

Saudi Arabia’s Rawabi Energy concludes $1.9bn syndicated financing 
Saudi Arabia’s Rawabi Energy concludes $1.9bn syndicated financing 

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index remained stable on Sunday, with a slight increase of 4.36 points, or 0.04 percent, to close at 11,760.3.  

The total value traded during the day was SR4.26 billion ($1.14 billion) as 59 stocks advanced, while 159 retreated.  

Elm Co., Dallah Health Co., and Jamjoom Pharma Co. were the top performers of the day, with their share prices rising 4.34 percent, 4.11 percent and 3.71 percent, respectively.  

The worst performer on Sunday was Saudi Printing and Packaging Co. with its share price falling 7.28 percent.  

Alkhaleej Training and Education Co. and Takween Advanced Industries Co. followed, dropping 6.08 percent and 5.27 percent, respectively.  

The Kingdom’s parallel market, Nomu, surged 727.97 points, or 3.13 percent, to close at 24,005.37 with 21 gainers and 25 losers.  

On the other hand, MSCI Tadawul Index rose by 3.23 points, or 0.21 percent, to close at 1,551.33. 

On the announcements front, Ataa Educational Co. reported that its subsidiary agreed to purchase all the shares of Glory Generation International School Co.  

The bourse statement noted that the subsidiary, the Arab Group for Education and Training Co., acquired shares valued at SR3.85 million.  

This acquisition is consistent with Ataa’s plan to expand into the educational market in order to maximize return on equity for the firm’s shareholders.  

Arab National Bank reported a rise in its net income in the first half of 2023 to SR3.4 billion from SR2.4 billion in the same period last year.  

In a Tadawul statement, the bank attributed the surge in net income to the net special commission income, net fees and commission income as well as net other operating income.  

Additionally, net exchange income and the decrease in net impairment charge for expected credit losses and other provisions also contributed to the income surge.  

Furthermore, Saudi Tadawul Group Holding Co. registered a 23.6 percent annual decrease in the second quarter of this year.  

The company achieved a net profit after zakat of SR105.2 million during the three-month period, from SR137.7 million in the same period of 2022, the company statement showed.  

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