The Tadawul All Share Index in Saudi Arabia rose by 57.75 points (0.49%) to 11,900.30 on Sunday, with a trading turnover of SR4.14 billion ($1.10 billion). Out of the stocks traded, 138 advanced while 80 declined.
However, the parallel market Nomu fell by 164.65 points (0.63%) to 25,769.95, with 19 stocks advancing and 46 declining. The MSCI Tadawul Index also saw an increase of 7.12 points (0.48%), ending at 1,478.60.
Saudi Fisheries Co. was the top gainer, with its share price jumping 9.93% to SR25.35. Other notable gainers included Amlak International Finance Co. and Saudi Arabian Cooperative Insurance Co., with their share prices rising by 7.59% and 7.36%, respectively.
In contrast, Al-Baha Investment and Development Co. was the worst performer, with a 5.56% drop to SR0.17. Middle East Specialized Cables Co. and First Milling Co. also saw declines of 1.99% and 1.83%, respectively.
On the announcements front, Riyad Capital disclosed the offering price range for Fourth Milling Co.’s IPO, set between SR5 and SR5.30 per share. The institutional book-building period runs from Sept. 15 to 19. The offering includes 162 million shares, representing 30% of Fourth Milling’s share capital. Participating parties can apply for 300,000 to 26.99 million shares. The total offering size is projected between SR810 million and SR858.6 million, indicating a market capitalization of SR2.7 billion to SR2.8 billion post-listing.
Additionally, the Capital Market Authority (CMA) approved the registration and offering of shares for several companies in the parallel market. This includes 3 million shares of Multi Business Group for Projects Co., 337,500 shares of Digital Research Co., and 250,000 shares of Balsm Alofoq Medical Co., each representing 20% of their respective share capitals. The offering for Al-Majed for Oud Co. was conducted on Sept. 15, with Saudi Fransi Capital as the lead manager.