Closing Bell: Saudi main index slips to close at 12,372
The total trading turnover of the benchmark index was SR4.1 billion ($1.09 billion), as 85 of the stocks advanced and 137 retreated.
However, the Kingdom's parallel market, Nomu, gained 121.76 points, or 0.39 percent, to close at 31,737, as 44 stocks advanced while 40 declined.
The MSCI Tadawul Index lost 1.11 points, or 0.07 percent, to close at 1,537.16.
The best-performing stock of the day was AYYAN Investment Co., whose share price surged 4.67 percent to SR17.48.
Other top performers included Tanmiah Food Co., which climbed 4.27 percent to SR132, and Ash-Sharqiyah Development Co., which surged 4.16 percent to SR22.52.
Saudi Reinsurance Co. declined 3.28 percent to SR56.00, while Savola Group slipped 2.84 percent to SR37.65.
On the announcements front, Dr. Sulaiman Al-Habib Medical Services Group reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company posted a net profit of SR2.3 billion in 2024, marking a 13.16 percent increase from 2023. The growth was driven by higher revenue, attributed to a surge in patient numbers and increased inpatient occupancy.
The firm also announced its board of directors' recommendation to distribute SR430.5 million in cash dividends to shareholders for the fourth quarter of the 2024 fiscal year.
A bourse filing showed that 350 million shares are eligible for dividends, with a payout of SR1.23 per share. The statement further noted that the dividend-to-par value ratio stood at 12.3 percent.
Dr. Sulaiman Al-Habib Medical Services Group closed at SR300, down 0.87 percent.
Umm Al-Qura for Development and Construction Co. announced the start of the institutional book-building period for its initial public offering, which comprises 130.7 million new ordinary shares for public subscription, representing 9.09 percent of the company's shares post-capital increase.
A Tadawul statement revealed that the price range for the offering has been set between SR14 and SR15 per share. The minimum subscription for participating parties is 100,000 ordinary shares, while the maximum allocation is 71.9 million shares.
Meanwhile, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR95.8 million in 2024, marking a 26.2 percent increase from the previous year. The rise in profit was primarily driven by operational efficiencies and cost optimization.
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