RIYADH: Saudi Arabia's Tadawul All Share Index closed its first trading session of the week on Sunday up 149.22 points, or 1.24 percent, to 12,175.43.
The total trading value of the underlying index was SAR6 billion ($1.6 billion), with 143 stocks gaining while 84 declined.
The kingdom's parallel stock exchange, Nomu, also rose 82.97 points, or 0.31 percent, to close at 26,502.98, with 36 stocks up and 34 down.
The MSCI Tadawul Index rose 22.36 points, or 1.49%, to close at 1,524.49.
The best-performing stock of the day was Kingdom Holding Co. The company's stock price jumped 9.95 percent to 8.95 riyals.
Other notable performers include Miahona Co. and Saudi Manpower Solutions Co.
The worst performer was Almunajem Foods Co., with its shares down 4.66 percent to 98.20 riyals.
Sabic Agri-Nutrients announces interim consolidated financial results for the period ended June 30
According to a statement from Tadawul, the company's net profit was SAR 1.54 billion at the end of the first six months of 2024, down 5.26 percent compared to the same period in 2023.
The decrease in net profit included a 6 percent decrease in average selling prices, limited by a 2 percent increase in sales volume.
Dr. Sulaiman Al-Habib Medical Services Group also announced its interim financial results for the first six months of 2024.
The company's net profit was 1.1 billion riyals for the period ended June 30, a 13.2 percent jump compared to the first six months of 2023, the stock exchange filing showed.
The increase in net profit was mainly due to revenue growth in line with the increase in patient numbers.
The Company also announced the decision of its Board of Directors to pay a cash dividend of SAR 409.5 million to shareholders for the second quarter of 2024.
The total number of shares eligible for the dividend is 350 million, with a dividend per share of 1.17 Saudi riyals, according to a separate statement from Tadawul.
It also revealed that the dividend to par value ratio was 11.7 percent.
Saudi Arabia's National Shipping Company, better known as Bahri, has announced its interim financial results for the period ended June 30.
The company’s net profit jumped 20 percent year-on-year to 1.18 billion riyals in the first six months of 2024, the stock exchange filing revealed. The increase was mainly linked to increases in gross profit and financial income.
“Bahri had a good first half of the year and performed admirably across all our divisions,” Bahri CEO Ahmed Ali Al-Subaey said in a statement. “Our success is due to our highly efficient fleet management and route efficiency, supported by improved market conditions for very large crude carriers (VLCCs) and chemical tankers.”
The Capital Markets Regulatory Authority has approved the application of Arabian Contracting Services Co. to increase its capital from Saudi Riyals 500 million to Saudi Riyals 550 million, to be carried out by issuing one bonus share for every 10 shares of the shareholders registered in the registry of the Central Securities Depository as of the close of business on the second business day after the maturity date, which will be determined by the board of directors of the company later.
According to the statement, the increase will be paid by transferring 50 million riyals from the “Retained Earnings” account to the company’s capital.
Eligible investors can start subscribing to 750,000 ASG Plastic Factory Co. shares on July 28, when the company will list on Nomu’s parallel market at a price of 40 to 44 Saudi riyals per share.
The offering price represents 10.64 percent of the capital after the initial public offering of 70.5 million riyals or 11.90 percent of the capital before the initial public offering, divided into 7.05 million shares with a par value of 10 riyals per share.
