RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, losing 31.13 points, or 0.30 percent, to end at 10,498.04.
The total trading turnover of the benchmark index reached SR3.71 billion ($989.8 million), with 54 stocks advancing and 200 declining.
Saudi Arabia’s parallel market Nomu shed 124.41 points to close at 25,075.25, while the MSCI Tadawul Index declined 1.86 percent to 1,364.98.
The best-performing stock on the main market was Retal Urban Development Co., which climbed 2.94 percent to SR11.56.
Shares of Almasane Alkobra Mining Co., advanced 2.63 percent to SR66.4, while Malath Cooperative Insurance Co. gained 2.36 percent to SR13.
Jadwa REIT Saudi Fund climbed 2.16 percent to SR10.42, and Banque Saudi Fransi added 2.06 percent to SR16.38.
On the other hand, Obeikan Glass Co. dropped 6.07 percent to SR26.30, and Thimar Development Holding Co. fell 4.70 percent to SR43.84.
Marketing Home Group for Trading Co. declined 3.74 percent to SR68.25, Scientific and Medical Equipment House Co. added 3.40 percent to SR35.84 and Sinad Holding Co. also lost 2.06 percent to close at SR10.15
In corporate announcements, Al Rajhi Bank has successfully completed the offering of its $1 billion tier 2 US dollar-denominated social trust certificates, the lender said in a filing to the Saudi Exchange.
The sukuk issuance forms part of the bank’s international trust certificate issuance program, with settlement scheduled for Sept. 16. A total of 5,000 certificates were issued at a par value of $200,000 each, offering an annual return of 5.65 percent.
The notes carry a maturity of 10.5 years and are callable after five years. The offering was made to eligible investors in Saudi Arabia and internationally.
The completion follows the bank’s earlier announcement on Sept. 9 regarding the launch of the offer, reinforcing its position as a key player in Shariah-compliant financing and aligning with broader goals to support sustainable and social finance initiatives.
Source: www.arabnews.com