Saudi Stock Market: Closing Bell Sees Decline
Tadawul All Share Index ends lower with a decline of 44.98 points.
Riyadh - Saudi Arabia's Tadawul All Share Index closed lower on Thursday, down by 44.98 points or 0.43 percent to settle at 10,453.06.
The total trading volume amounted to 192.58 million shares, with a turnover of SR3.56 billion ($948 million).
In terms of stocks, 57 advanced while 190 declined.
The MSCI Tadawul 30 Index fell by 3.77 points or 0.28 percent to finish at 1,361.21.
Saudi Arabia's parallel market Nomu also ended lower, dropping by 49.03 points or 0.20 percent to settle at 25,026.22.
In the top performers section, Thimar Development Holding Co surged by 5.84 percent to SR46.40, while Ayyan Investment Co. increased by 5.09 percent to SR12.19.
Raydan Food Co rose by 2.93 percent to SR13.71, Al Moammar Information Systems Co gained 2.73 percent to SR131.50, and Taiba Investments Co advanced by 2.57 percent to SR36.72.
On the other hand, Dar Al Majed Real Estate Co dropped by 8.17 percent to SR12.70, Arriyadh Development Co fell by 5.23 percent to SR28.64, Middle East Healthcare Co declined by 4.38 percent to SR53.50, National Medical Care Co shed 4.23 percent to SR160.80, and Buruj Cooperative Insurance Co slipped by 4.15 percent to SR15.24.
Jamjoom Fashion Trading Co announced the successful completion of its initial public offering of 2.38 million shares representing 30 percent of its capital at a final offer price of SR145 per share.
The IPO generated total proceeds of SR346 million, with an order book reaching SR1.56 billion and was oversubscribed 4.5 times.
Founder and chairman Kamal Jamjoom stated that the strong demand from investors reaffirms market confidence in homegrown brands that are innovatively scaling new markets and blending online shopping with brick-and-mortar experiences.
The shares will be listed on the parallel market of the Saudi Exchange following regulatory approvals, with a 70 percent stake retained by the company subject to a 12-month lock-up period.
The total trading volume amounted to 192.58 million shares, with a turnover of SR3.56 billion ($948 million).
In terms of stocks, 57 advanced while 190 declined.
The MSCI Tadawul 30 Index fell by 3.77 points or 0.28 percent to finish at 1,361.21.
Saudi Arabia's parallel market Nomu also ended lower, dropping by 49.03 points or 0.20 percent to settle at 25,026.22.
In the top performers section, Thimar Development Holding Co surged by 5.84 percent to SR46.40, while Ayyan Investment Co. increased by 5.09 percent to SR12.19.
Raydan Food Co rose by 2.93 percent to SR13.71, Al Moammar Information Systems Co gained 2.73 percent to SR131.50, and Taiba Investments Co advanced by 2.57 percent to SR36.72.
On the other hand, Dar Al Majed Real Estate Co dropped by 8.17 percent to SR12.70, Arriyadh Development Co fell by 5.23 percent to SR28.64, Middle East Healthcare Co declined by 4.38 percent to SR53.50, National Medical Care Co shed 4.23 percent to SR160.80, and Buruj Cooperative Insurance Co slipped by 4.15 percent to SR15.24.
Jamjoom Fashion Trading Co announced the successful completion of its initial public offering of 2.38 million shares representing 30 percent of its capital at a final offer price of SR145 per share.
The IPO generated total proceeds of SR346 million, with an order book reaching SR1.56 billion and was oversubscribed 4.5 times.
Founder and chairman Kamal Jamjoom stated that the strong demand from investors reaffirms market confidence in homegrown brands that are innovatively scaling new markets and blending online shopping with brick-and-mortar experiences.
The shares will be listed on the parallel market of the Saudi Exchange following regulatory approvals, with a 70 percent stake retained by the company subject to a 12-month lock-up period.
