Tadawul to close for Saudi Foundation Day on Feb. 23
Trading activities are set to resume on Monday, Feb. 24.
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Arab News
2 days ago
- Arab News
Closing Bell: Saudi main index slips to close at 10,945
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Thursday, falling 38.13 points, or 0.35 percent, to close at 10,945.80. The total trading turnover of the benchmark index reached SR4.92 billion ($1.31 billion), with 112 stocks advancing and 137 declining. The Kingdom's parallel market Nomu gained 120.10 points, or 0.45 percent, to close at 26,898.25. A total of 49 listed stocks advanced, while 24 retreated. The MSCI Tadawul Index also edged down, losing 3.66 points, or 0.26 percent, to close at 1,408.07. The best-performing stock of the day was Saudi AZM for Communication and Information Technology Co., whose share price surged 9.96 percent to SR29.14. Other top performers included Northern Region Cement Co., which saw its share price rise 6.29 percent to SR8.11, and Obeikan Glass Co., which climbed 6.20 percent to SR37. Sport Clubs Co. recorded the most significant drop, falling 7.34 percent to SR10.22. Gulf Union Alahlia Cooperative Insurance Co. also saw its share price decline by 4.56 percent to SR14.22. National Medical Care Co. dropped 3.51 percent to close at SR164.80. On the announcements front, Electrical Industries Co. released its interim financial results for the period ending June 30. According to a Tadawul statement, the company recorded a net profit of SR260 million during the first six months of the year, reflecting a 47.9 percent rise compared to the same period a year earlier. The increase in net profit was attributed to a broader product mix and higher sales of items with stronger profit margins. Electrical Industries Co. ended the session at SR8.99, down 2.21 percent. Alinma Bank also announced its interim financial results for the first half of the year. A bourse filing revealed that the company recorded a net profit of SR3.08 billion in the period ending June 30, up 12.8 percent year on year. This increase was primarily linked to growth in total operating income. Net income rose as operating income expanded by 8.5 percent, driven mainly by higher returns from financing and investments, along with increased fee and foreign exchange income. The bank also announced the board of directors' recommendation to distribute SR746 million in cash dividends to shareholders for the second quarter of 2025. According to a Tadawul statement, the total number of shares eligible for dividends stood at 2.4 billion, with a dividend per share of SR0.30 after the deduction of Zakat. The dividend represented 3 percent of the share's par value. Alinma Bank closed the session at SR26.38, down 1.60 percent.
Argaam
2 days ago
- Argaam
MEFIC Capital's Private Equity Funds Complete Successful Partial Exit from Sport Clubs Company via Tadawul Initial Public Offering
MEFIC Capital hereby announces the successful partial divestment of its private equity interests in Sport Clubs Company, effected through the company's recent listing on the Tadawul Main Market. This transaction represents a significant achievement consistent with MEFIC Capital's private equity strategy, which prioritises disciplined capital deployment, value realisation, and the strategic utilisation of public market liquidity to enhance investor returns. Sport Clubs Company is recognised as one of the Kingdom of Saudi Arabia's foremost fitness operators, with a network of more than 56 centers across 17 cities. Its brands include 'Body Masters' for male clientele, 'Body Motions' for female members, and 'Body Experts,' the company's distribution division specialising in fitness equipment. Commenting on the transaction, a MEFIC Capital spokesperson remarked: 'Our investment in the fitness sector aligns strategically with the ambitions of Saudi Vision 2030, particularly in the areas of public health promotion, lifestyle enhancement, and the empowerment of the private sector. The successful flotation of Sport Clubs Company represents a landmark in our investment journey and reaffirms our commitment to identifying, nurturing, and realising value from high-potential enterprises. We remain focused on sourcing distinctive investment opportunities capable of delivering sustained value to our stakeholders and contributing meaningfully to the Kingdom's broader economic objectives.' The offering comprised 30% of the company's issued share capital, thereby enabling a partial liquidity event for MEFIC Capital's managed funds and positioning the company for further growth as a listed entity. The transaction further evidence MEFIC Capital's continued strategic transformation, characterised by the diversification of its product suite and a deepened footprint in sectors of national economic significance. MEFIC Capital is one of the inaugural investment institutions licensed by the Capital Market Authority (Licence No. 06029-37). The firm provides an integrated suite of services encompassing asset management, private equity, real estate, private credit, and investment banking. Through its substantial expertise in domestic and international markets, MEFIC Capital is uniquely positioned to originate and execute compelling investment propositions aligned with the Kingdom's ongoing economic evolution.
Argaam
2 days ago
- Argaam
Americana board to approve H1 2025 financials on July 29
Americana Restaurants International PLC announced that its board of directors will adopt the company's consolidated financial statements for H1 2025 on July, following a recommendation from the audit committee, according to a Tadawul statement. The board's decision will be disclosed in due course. According to data available with Argaam, Americana reported a net profit of SAR 122.4 million in Q1 2025, a 17% increase from SAR 105.1 million a year earlier.
