Thank you for reading the news about Future Investment Initiative to kick off 8th edition in October and now with the details
Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 23.7 points, or 0.2 percent, to close at 11,986.
The total trading turnover of the benchmark index was SR7.18 billion ($1.94 billion), as 143 of the stocks advanced and 80 retreated.
The Kingdom’s parallel market Nomu rose 104.79 points, or 0.42 percent, to close at 25,600.58. This comes as 32 of the listed stocks advanced, while 31 retreated.
The MSCI Tadawul Index gained 2.0 points, or 0.12 percent, to close at 1,492.12.
The best-performing stock of the day was Saudi Enaya Cooperative Insurance Co., whose share price surged 9.94 percent to SR17.92.
Other top performers were Amana Cooperative Insurance Co. as well as Saudi Industrial Development Co., with their share prices rising 9.85 percent and 5.96 percent, respectively.
The worst performer was Tourism Enterprise Co., whose share price dropped by 4.21 percent to SR0.91.
Other worst performers were Saudi Fisheries Co. and Miahona Co., with their share prices slipping 4.14 percent and 4.00 percent to reach SR26.6 and SR30, respectively.
The best performer in the parallel market was Leaf Global Environmental Services Co., whose share price surged 18.88 percent to SR85.
Other top performers in Nomu were Fad International Co. as well as Qomel Co., with their share prices rising 5.59 percent and 5.5 percent, respectively.
The worst performer was Banan Real Estate Co., whose share price dropped by 6.18 percent to SR5.16.
Other worst performers were Enma Al Rawabi Co. and Al Rashid Industrial Co., with their share prices dropping 4.9 percent and 4.37 percent, respectively.
On the announcement front, the Capital Market Authority approved the public offering of Jadwa Investment Co. for its “Jadwa Saudi Equity Fund II.”
Jadwa Investment is a prominent Saudi asset management and advisory firm established in 2006.
Known for its focus on Shariah-compliant investments, the company manages a diverse portfolio that spans private equity, real estate, and public markets.
This move marks another step in the expansion of the Kingdom’s equity fund landscape, which has been gaining momentum as the nation seeks to diversify its economy away from oil dependency.
This follows a series of reforms aimed at modernizing the financial ecosystem, including presenting more sophisticated investment products and the gradual liberalization of the stock market.
A central part of this modernization effort includes the introduction of exchange-traded funds, real estate investment trusts, and various Shariah-compliant financial instruments that cater to the growing demand for diverse investment options.
These reforms also encompass improvements in transparency, governance, and investor protection. The CMA has implemented stricter disclosure requirements and corporate governance standards, ensuring that companies listed on Tadawul adhere to global best practices.
These were the details of the news Future Investment Initiative to kick off 8th edition in October 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.
