SEVEN to build $347.8m entertainment destination in Asir

SEVEN to build $347.8m entertainment destination in Asir
SEVEN to build $347.8m entertainment destination in Asir

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 12.34 points, or 0.11 percent, to close at 11,090.42.

The total trading turnover of the benchmark index was SR3.73 billion ($997 million) as 122 of the listed stocks advanced, while 92 retreated.  

Similarly, the Kingdom’s parallel market Nomu also rose 218.62 points, or 0.91 percent, to close at 24,358.10. This comes as 25 of the listed stocks advanced while 26 retreated.

On the other hand, the MSCI Tadawul Index slipped 3.02 points, or 0.21 percent, to close at 1,427.82.

The best-performing stock of the day was Arab Sea Information Systems Co. The company’s share price surged 8.93 percent to SR6.95.

Other top performers included Saudi Pharmaceutical Industries and Medical Appliances Corp. as well as Naseej International Trading Co., whose share prices soared by 4.85 percent and 4.36 percent to stand at SR35.70 and SR55.00, respectively.

Other top performers included Saudi Industrial Export Co. and Al-Babtain Power and Telecommunication Co.

The worst performer was Al-Omran Industrial Trading Co., whose share price dropped by 8.37 percent to SR38.80.

Other poor performers were Al-Baha Investment and Development Co. as well as Development Works Food Co., whose share prices dropped by 6.67 percent and 3.20 percent to stand at SR0.14 and SR145.20, respectively.

Moreover, other bad performers included the National Agricultural Development Co. and Tihama Advertising and Public Relations Co.

On the announcements front, National Medical Care Co. has unveiled the completion of procedures to acquire the entire share capital of Chronic Care Specialized Medical Hospital Co. Single Shareholder Co.

According to a Tadawul statement, this move comes after the fulfillment of the specified conditions outlined in the agreement, which encompassed securing approvals from the pertinent authorities.

The purchase price will be settled in accordance with the completion accounts mechanisms under the agreement and through Care’s internal sources and bank loan.

On another note, Jabal Omar Development Co. has announced the full and final redemption of its sukuk of the aggregate face amount of $135 million. 

A bourse filing revealed that 337.5 sukuk were redeemed worth an accumulated $67.5 million, with the percentage of redeemed sukuk out of the total issued standing at 50 percent. 

Meanwhile, Albilad Capital and Riyad Capital have joined the Saudi Exchange as derivatives exchange members. 

According to Tadawul statements, both firms have completed all regulatory and technical requirements to become derivatives exchange members, with the right to conduct brokerage services and deal as principals and agents in the Saudi Exchange.

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