Closing Bell: Saudi main index ends lower at 11,303

22/05/2025 02:13 AST

Saudi Arabia's Tadawul All Share Index closed in the red on Wednesday, falling 134.5 points, or 1.18 percent, to settle at 11,303.68.

The total trading turnover reached SR4.37 billion ($1.16 billion), with 37 stocks advancing and 206 declining.

The MSCI Tadawul 30 Index also dropped, losing 19.78 points, or 1.35 percent, to close at 1,441.01.

The Kingdom's parallel market Nomu declined by 110.94 points, or 0.40 percent, to close at 27,417.62, with 26 stocks gaining and 49 retreating.

The best-performing stock of the day was Saudi Arabia Refineries Co., rising 4.38 percent to SR69.10.

Other top gainers included Perfect Presentation for Commercial Services Co., whose share price rose 3.37 percent to SR11.66, and SHL Finance Co., which gained 2.22 percent to SR20.30.

The day's largest decline was seen in National Gypsum Co., with its share price dipping 4.76 percent to SR20.4.

ACWA Power Co. saw its shares drop 4.40 percent to SR274, while Al-Rajhi Co. for Cooperative Insurance declined 4.17 percent to SR115.

On the announcements front, ACWA Power said it has received approval from the Capital Market Authority to proceed with a SR7.12 billion capital increase through a rights issue.

The CMA's decision, issued on May 20, allows the company to offer, register, and list rights issue shares - pending shareholder approval at an upcoming extraordinary general assembly.

The rights issue was first disclosed on Dec. 19, when ACWA Power submitted its application to the CMA.

Alinma Bank has successfully completed a $500 million issuance of dollar-denominated sustainable Additional Tier 1 capital certificates under its Tier 1 Capital Certificate Issuance Programme.

The offering targets eligible investors in Saudi Arabia and internationally, with settlement expected on May 28.

The issuance comprises 2,500 certificates, each with a par value of $200,000, offering an annual return of 6.5 percent. These perpetual instruments are callable after 5.5 years.

The certificates will be listed on the International Securities Market of the London Stock Exchange and were offered exclusively under Regulation S of the US Securities Act of 1933.

During Wednesday's session, Alinma Bank shares rose 0.18 percent to close at SR27.50 on the main market.

Flynas has set the final offer price for its initial public offering at SR80 per share following the successful completion of the institutional book-building process, which was oversubscribed by 99.8 times, according to a statement.

BSF Capital, Morgan Stanley Saudi Arabia, and Goldman Sachs Saudi Arabia, acting as joint financial advisors, co-underwriters, and joint bookrunners for the IPO, confirmed that institutional investors subscribed in full to the 51,255,568 ordinary shares allocated in the first phase, representing 100 percent of the total offered.

Following this, up to 20 percent of the total offering will be allocated to retail investors in the second phase of the IPO.

Saudi Fransi Capital, serving as lead manager, announced that all necessary arrangements have been completed with receiving agents to facilitate the individual subscription process, which will run for three days from May 28 until June 1 at 12:00 p.m.