Saudi Press

Saudi Arabia and the world
Thursday, Dec 12, 2024

Saudi Arabia's Tadawul Index Dips, Saudi Paper Manufacturing Co. Surges: Top Performers and IPO Announcements

Saudi Arabia's Tadawul Index Dips, Saudi Paper Manufacturing Co. Surges: Top Performers and IPO Announcements

Saudi Arabia's Tadawul All Share Index and parallel market Nomu both decreased on Monday.
The Tadawul Index lost 0.16 percent to close at 11,831.22, with a trading turnover of SR5.8 billion ($1.5 billion).

Of the 110 stocks traded, 110 advanced and 108 retreated.

The Nomu index dropped 0.71 percent to close at 26,448.54, with 30 advancing and 34 stocks retreating.

The best-performing stock was Saudi Paper Manufacturing Co., whose share price surged 4.89 percent to SR75.10.

Other top performers included CHUBB Arabia Cooperative Insurance Co. and Middle East Specialized Cables Co., whose share prices increased by 3.96 percent and 3.46 percent, respectively.

The top gainer on the Saudi Stock Exchange, Nomu, was On Nomu, Osool and Bakheet Investment Co., whose share price increased by 9.22 percent to SR48.

Other notable gainers were View United Real Estate Development Co. and Al-Modawat Specialized Medical Co., with share prices rising by 6.53 percent and 6.20 percent to SR79.90 and SR150.80, respectively.

Additional top performers included Almujtama Alraida Medical Co. and Bena Steel Industries Co.

On Tadawul, Saudi Basic Industries Corp. (SABIC) announced that it had received all necessary approvals to complete the acquisition of its subsidiary, Saudi Iron and Steel Co. (HADEED), by the Public Investment Fund for SR12.5 billion.

SABIC satisfied all transaction-related conditions, as announced earlier in September 2023.

Saudi Arabia's Al Taiseer Group Talco Industrial Co., an aluminum producer, is listing a 30% stake on the Tadawul stock exchange after completing an initial public offering (IPO).

The final offer price per share is SR43.

The company is selling 12 million shares and has already finished the institutional investor's book-building process, which had a coverage of 68.5 times the total offer shares.

The retail investor's book-building process will last for two days starting on May 28, allowing them to subscribe to a maximum of 10% of the shares.

The final share allocation is scheduled for June 2.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Global Trials and Tensions: The Stories Reshaping International Dynamics
South Korea's Presidential Office Raided Amid Allegations of Martial Law Plan
Navigating Uncertainty: Israel's Calculated Engagement with a Changing Syria
The Illusion of Innocence: How Bashar and Asma al-Assad Deceived the Media
Polarization: The Word That Unites a Divided Era
The Obsession That Could Divide: GB News and Its Singular Focus on UK Muslims
Anatomy of Regime Change: The Key Players in Syria's Tumultuous Fall
Syria After Assad: A Pyrrhic Victory with Uncertain Horizons
The Day After Assad: Can Syria Steer Clear of Libya's Pitfalls?
Iranian Embassy in Damascus Attacked Amidst Rising Tensions
Geopolitical Chess: Trump's Reflections on Russia's Waned Syrian Influence
Syria's New Chapter: A Historic Shift and the Hopes for Peace
A New Dawn in Damascus: Challenges of a Post-Assad Transition
A New Dawn in Syria: The Flag That Signals Change
Lone Wolf or Symptom? Unpacking the Insider Attack in Yemen
Keir Starmer's Gulf Gambit: Balancing Diplomacy and Principles
Dubai Hosts Largest Middle East AI Summit with Innovative Challenges
UAE’s Quantum Leap: Pioneering the Future of Computing
Balancing the Final Frontier: The New Asteroid Discovery and Our Global Priorities
New Asteroid Discovery Highlights International Collaboration in Space Exploration
UAE's Ambitious Leap into Space Research
Benralizumab: A Breakthrough in Asthma Treatment After 50 Years
Benralizumab: A Breakthrough Decades in the Making
From Desert Dromedaries to Cutting-Edge Medicine: The Advent of Nanobodies
Cosmic Wonders and Earthly Breakthroughs: A Week of Celestial and Scientific Marvels
Dark Energy's Dance: Revisiting Cosmic Constants
A Temporary Release: The Fragile Freedom of Iran's Narges Mohammadi
OpenAI and Anduril: Charting AI's Path in Modern Warfare
Seoul in Turmoil: Yoon Suk Yeol’s Martial Law Blunder Ignites Political Upheaval
Taliban Bans Afghan Women from Medical Training Amid Health Crisis
Syrian Rebels Make Major Gains in Aleppo
World Court to Assess Global Legal Responsibilities on Climate Change
UK Intelligence Chief Cautions: Iran's Nuclear Aspirations Present Worldwide Danger
Hezbollah Chief Declares 'Great Victory' Against Israel
Hamas Delegation Engages in Gaza Ceasefire Talks in Egypt
Rebel Advances Lead to Aleppo Airport Closure
UK Intelligence Chief Alerts: Iran's Nuclear Intentions Represent a Worldwide Danger
Putin Warns Trump Isn’t Safe—And Here’s Why That Might Be True
Can Donald Trump Bring Peace to the Middle East—or Is It Beyond His Reach?
COP29's Carbon Trading Deal Faces Major Criticisms
Global Erosion of Women’s Basic Rights
Putin Warns Trump of Ongoing Safety Concerns
From Islamophobia Concerns to Global Alliances: A Snapshot of Key Developments
Global Unrest: From Fragile Ceasefires to Free Speech Battles and Defense Shifts
Global Developments: Israel's ICC Critique, Saudi Infrastructure Upgrades, and Middle Eastern Economic and Educational Advancements
Trump Nominates Kellogg for Ukraine-Russia Envoy Amid Global Tensions; Israel Appeals ICC Arrest Warrants
UAE Consumer Spending Soars; Saudi Arabia Drives GCC Unity Amid Global Oil and Policy Shifts
China's Military Shake-Up: Anti-Corruption Clampdown Rivals Middle East Innovation Drive and Rising Tensions
Operation Orion: Global Drug Bust Shakes Cartels as Nations Tackle Emerging Challenges and Crises
Global Turmoil: From UK Investigations to U.S. Sanctions, Trade Tensions, and Corporate Challenges
×