Saudi Stock Market: Main Index Rises as Dar Al-Arkan Closes Sukuk Issuance and Sahara International Petrochemical Co. Announces Cash Dividends
The Tadawul All Share Index gains 94.29 points, or 0.86 percent, to close at 11,068.27, while the MSCI Tadawul Index increases by 11.41 points, or 0.81 percent.
Riyadh - Saudi Arabia's stock market ended Thursday on a positive note, with the main index rising to close at 11,068.
The Tadawul All Share Index gained 94.29 points, representing an increase of 0.86 percent compared to the previous session.
This growth was driven by 206 advancing stocks and 40 retreating ones, resulting in a total trading turnover of SR5.72 billion ($1.52 billion).
In addition, Saudi Arabia's parallel market Nomu saw a rise of 215.80 points, or 0.80 percent, closing at 27,053.10.
This improvement was characterized by 54 advancing stocks and 31 retreating ones.
The MSCI Tadawul Index also followed the positive trend, increasing by 11.41 points, or 0.81 percent, to finish at 1,418.88.
Among the top performers for the day, Ades Holding Co. led with a share price increase of 6.97 percent to SR13.82.
Other notable gainers included National Gypsum Co., which rose by 5.66 percent to SR22.40, and Zamil Industrial Investment Co., increasing by 5.42 percent to SR42.80.
On the downside, Specialized Medical Co. experienced a decline of 3.31 percent in its share price, dropping to SR23.36.
Saudi Advanced Industries Co. saw its stock price fall by 2.55 percent to SR26.75, while Al-Taiseer Group Talco Industrial Co.'s shares decreased by 2.27 percent to reach SR43.10.
Dar Al-Arkan Real Estate Development Co., however, closed its 14th sukuk issuance, marking the tenth tranche under its USD-denominated Islamic Sukuk Program, with a total size of SR2.81 billion.
The five-year sukuk, carrying an annual profit rate of 7.25 percent, was issued on June 25 and attracted strong demand from regional and international investors, resulting in an order book that reached SR10.8 billion.
This demonstrates the issuance's success, as it was nearly four times oversubscribed.
The issuance comprised 3,750 sukuk units, each with a par value of $200,000.
Furthermore, Dar Al-Arkan appointed several banks to act as joint lead managers for the transaction, including Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Alkhair Capital, Al Rayan Investment LLC, Arqaam Capital, Bank ABC, and Dubai Islamic Bank.
Additional mandates were assigned to Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank.
Despite the overall positive market performance, shares in Dar Al Arkan ended the session slightly lower, closing at SR19.22, down 0.10 percent.
Sahara International Petrochemical Co., also known as Sipchem, announced that its board of directors approved cash dividends worth SR362 million for the first half of 2025.
These dividends will be distributed to eligible shares, amounting to a dividend of SR0.50 per share or 5 percent of the share's par value.
As a result, Sipchem's stock price closed higher at SR19.06, representing an increase of 4.24 percent.
The Tadawul All Share Index gained 94.29 points, representing an increase of 0.86 percent compared to the previous session.
This growth was driven by 206 advancing stocks and 40 retreating ones, resulting in a total trading turnover of SR5.72 billion ($1.52 billion).
In addition, Saudi Arabia's parallel market Nomu saw a rise of 215.80 points, or 0.80 percent, closing at 27,053.10.
This improvement was characterized by 54 advancing stocks and 31 retreating ones.
The MSCI Tadawul Index also followed the positive trend, increasing by 11.41 points, or 0.81 percent, to finish at 1,418.88.
Among the top performers for the day, Ades Holding Co. led with a share price increase of 6.97 percent to SR13.82.
Other notable gainers included National Gypsum Co., which rose by 5.66 percent to SR22.40, and Zamil Industrial Investment Co., increasing by 5.42 percent to SR42.80.
On the downside, Specialized Medical Co. experienced a decline of 3.31 percent in its share price, dropping to SR23.36.
Saudi Advanced Industries Co. saw its stock price fall by 2.55 percent to SR26.75, while Al-Taiseer Group Talco Industrial Co.'s shares decreased by 2.27 percent to reach SR43.10.
Dar Al-Arkan Real Estate Development Co., however, closed its 14th sukuk issuance, marking the tenth tranche under its USD-denominated Islamic Sukuk Program, with a total size of SR2.81 billion.
The five-year sukuk, carrying an annual profit rate of 7.25 percent, was issued on June 25 and attracted strong demand from regional and international investors, resulting in an order book that reached SR10.8 billion.
This demonstrates the issuance's success, as it was nearly four times oversubscribed.
The issuance comprised 3,750 sukuk units, each with a par value of $200,000.
Furthermore, Dar Al-Arkan appointed several banks to act as joint lead managers for the transaction, including Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Alkhair Capital, Al Rayan Investment LLC, Arqaam Capital, Bank ABC, and Dubai Islamic Bank.
Additional mandates were assigned to Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank.
Despite the overall positive market performance, shares in Dar Al Arkan ended the session slightly lower, closing at SR19.22, down 0.10 percent.
Sahara International Petrochemical Co., also known as Sipchem, announced that its board of directors approved cash dividends worth SR362 million for the first half of 2025.
These dividends will be distributed to eligible shares, amounting to a dividend of SR0.50 per share or 5 percent of the share's par value.
As a result, Sipchem's stock price closed higher at SR19.06, representing an increase of 4.24 percent.
