Kuwait’s Zain Group increases its share in TASC Towers to 93%

Kuwait’s Zain Group increases its share in TASC Towers to 93%
Kuwait’s Zain Group increases its share in TASC Towers to 93%

Thank you for reading the news about Kuwait’s Zain Group increases its share in TASC Towers to 93% and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 50.39 points, or 0.45 percent, to close at 11,104.15. 

The total trading turnover of the benchmark index was SR4.04 billion ($1.07 billion) as 85 of the stocks advanced, while 129 retreated.  

On the other hand, the Kingdom’s parallel market, Nomu, also slipped 16.60 points, or 0.07 percent, to close at 22,791.81. This comes as 22 of the listed stocks advanced, while as many as 24 retreated. 

Similarly, the MSCI Tadawul Index also dropped 6.71 points, or 0.47 percent, to close at 1,429.22. 

Meanwhile, the Saudi exchange has made a significant stride in advancing the Kingdom’s capital market by introducing the new Tadawul Size Indices and the Initial Public Offering Index, effective Sunday. 

These indices, comprising the Tadawul Large Cap, Tadawul Medium Cap, Tadawul Small Cap, and Tadawul IPO Index, reflect a milestone in the market’s evolution. 

The best-performing stock of the day was Fawaz Abdulaziz Alhokair Co. The company’s share price surged 7.19 percent to SR21.18. 

Other top performers include Al-Baha Investment and Development Co. as well as Filing and Packing Materials Manufacturing Co., whose share prices soared by 6.67 percent and 6.28 percent, to stand at SR0.16 and SR51.60, respectively. 

The worst performer was Riyadh Cables Group Co as its share price dropped by 5.77 percent to SR66.90.  

Other poor performers were Alujain Corp. as well as Malath Cooperative Insurance Co., whose share prices dropped by 5.61 percent and 3.49 percent to stand at SR45.45 and SR21.00, respectively. 

Meanwhile, Jahez International Co. for Information System Technology has made an announcement regarding the board of directors’ intention to recommend the purchase of its own shares to the extraordinary general assembly. 

As per a Tadawul statement, the proposed maximum number of shares for repurchase is 293,770, with the intention of keeping them as treasury shares. This decision is driven by the board of directors’ observation that the market share price is currently below its fair value. 

The filing on the stock exchange also revealed that the acquisition of these shares will be financed through the company’s internal resources or bank facilities. 

These were the details of the news Kuwait’s Zain Group increases its share in TASC Towers to 93% for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudi Arabia, China discuss collaboration in urban development during Beijing meeting

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]