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Saudi Arabia’s non-oil economy to expand by 4% annually until 2030: Moody’s 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 57.79 points, or 0.50 percent, to close at 11,600.72.

The total trading turnover of the benchmark index was SR4.52 billion ($1.20 billion) as 147 of the listed stocks advanced, while 74 retreated.  

On the other hand, the Kingdom’s parallel market Nomu slipped 49.44 points, or 0.21 percent, to close at 23,371.21. This comes as 21 of the listed stocks advanced while as much as 28 retreated.

Meanwhile, the MSCI Tadawul Index rose 10.22 points, or 0.69 percent, to close at 1,497.40.

The best-performing stock of the day was Saudi Co. for Hardware. The company’s share price surged 9.85 percent to SR32.90.

Other top performers included Morabaha Marina Financing Co. as well as Electrical Industries Co., whose share prices soared by 6.01 percent and 5.93 percent to stand at SR12.00 and SR2.86, respectively.

In addition to this, other top performers included CHUBB Arabia Cooperative Insurance Co. and Alinma Retail REIT Fund.

The worst performer was Al-Baha Investment and Development Co., whose share price dropped by 7.14 percent to SR0.13.

Other worst performers were Sinad Holding Co. as well as Abdulmohsen Alhokair Group for Tourism and Development, whose share prices dropped by 2.94 percent and 2.69 percent to stand at SR13.20 and SR2.17, respectively.

Moreover, other poor performers also included Alamar Foods Co. and Development Works Food Co.  

On the announcements front, Al-Jouf Agricultural Development Co. has announced the distribution of SR7.5 million in cash dividends to shareholders for the first half of 2023.

According to a Tadawul statement, the total number of shares eligible for dividends amounted to 30 million, with the dividend per share standing at SR0.25.

In addition, the statement also revealed that the dividend percentage to the share par value stood at 2.5 percent.

On another note, Saudi Pharmaceutical Industries and Medical Appliances Corp. has announced the acquisition of an additional 15 percent of Dammam Pharmaceutical Co., an 85 percent-owned subsidiary, at an estimated value of SR53.86 million.

A bourse filing revealed that as part of its asset consolidation initiative, SPIMACO transferred 20 percent of Dammam Pharma from ARAC Healthcare Co., a wholly owned subsidiary, to the parent company SPIMACO.

Following this transaction, SPIMACO will directly own 100 percent of Dammam Pharma.

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