Latest news with #SaudiMarket
Argaam
12-07-2025
- Business
- Argaam
CMA Chairman: GCC residents can now invest in Saudi market
Residents of the GCC countries can now invest in the Saudi market, said Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA). This announced followed the Saudi market regulator's approval for amendments to investment account regulations that allow current GCC residents, and those who previously resided in Saudi Arabia or other GCC countries, to directly invest in the Saudi main market. Elkuwaiz said: 'As the new amendments are approved, Gulf residents — or those who have previously lived in the Kingdom or the GCC — can continue investing in the Saudi financial market even after returning to their home countries.' This step enhances the market's openness to foreign investors, while building long-term investment relationships with a broader range of investors around the world, within a more flexible and attractive regulatory framework, he added.
Arab News
01-07-2025
- Business
- Arab News
Closing Bell: TASI declines 0.38% to close at 11,121
RIYADH: Saudi Arabia's Tadawul All Share Index declined 42.36 points, or 0.38 percent, to close at 11,121.60 on Tuesday. Total trading turnover reached SR5.57 billion ($1.48 billion), with 110 stocks posting gains and 141 declining. The Kingdom's parallel market Nomu also recorded a decrease, losing 92.51 points, or 0.35 percent, to settle at 27,245.12, as 33 stocks advanced and 43 retreated. The MSCI Tadawul 30 Index declined by 8.26 points, or 0.58 percent, to finish at 1,420.6. Rabigh Refining and Petrochemical Co. was the best-performing stock of the session, with its share price rising 9.97 percent to SR7.94. Fawaz Abdulaziz Alhokair Co. followed with a 7.96 percent increase to SR26.58. Other gainers included Saudi Printing and Packaging Co., which rose to a fresh year high on Tuesday, closing at SR13.19 with a 7.41 percent gain. On the losing side, Alandalus Property Co. saw the steepest decline, falling 2.82 percent to SR21.38. Tihama Advertising and Public Relations Co. dropped 2.76 percent to SR16.53, and Walaa Cooperative Insurance Co. declined 2.74 percent to SR28.52. ACWA Power has secured shareholder approval to raise its share capital through a rights issue worth SR7.12 billion, the company announced following its extraordinary general assembly meeting. The board's recommendation to increase the capital through the issuance of new shares was ratified on June 30. This move aligns with the company's previous disclosure, which detailed the number of new shares, the offer price, and the resulting increase in share capital. According to the statement, eligible shareholders are those who own shares at the end of trading on the day of the general assembly and are listed in the company's register with the Securities Depository Center by the close of the second trading day following the meeting. The firm's share price traded 2.36 percent lower to close at SR248, after opening at SR267.40. Saudi Awwal Bank announced its intention to issue Saudi riyal-denominated Additional Tier 1 sukuk through a private placement as part of its capital-boosting strategy, the lender said in a bourse filing on Tuesday. The sukuk will be offered under the bank's established issuance program, with HSBC Saudi Arabia appointed as the sole arranger and dealer for the transaction and issuance process. According to the statement, the exact value of the offering will be determined at a later stage, depending on prevailing market conditions at the time of issuance. The bank stated that the planned issuance aims to strengthen its capital base in alignment with long-term strategic goals. Saudi Awwal Bank's share price closed 0.77 percent higher at SR33.90. Riyad Bank announced that its subsidiary, Riyad Capital, has submitted applications to both the Capital Market Authority and the Saudi Exchange for a potential initial public offering, marking a significant step forward in the bank's IPO preparations. According to the statement posted on Tadawul, the application includes registering and offering a portion of Riyad Capital's shares to the public, as well as listing them on the main market of Tadawul. This development follows Riyad Bank's earlier disclosure on April 4, in which it confirmed board approval to begin assessing and preparing for a potential listing of Riyad Capital. The bank noted that the IPO remains contingent on obtaining necessary regulatory approvals and final endorsement by Riyad Bank, depending on market conditions and the best interests of its shareholders. Riyad Bank's share price closed 0.97 percent lower at SR28.46.
Zawya
01-07-2025
- Business
- Zawya
Saudi Arabia's CMA approves three IPOs
Saudi Arabia's market regulator has approved three IPOs, two of which will list on the NOMU Parallel Market, while the third remains to be announced. Property developer AlRamz Real Estate Company will float 12,857,143 shares, representing 30% of its share capital. This is the firm's second attempt at a NOMU IPO, following a 2022 announcement to float a 10% stake, which was scrapped a month later upon consultation with its financial advisor ANB Capital, the company said at the time. The Saudi CMA has also approved the NOMU IPO of Abdulaziz Ahmad Altwijri Trading Company, which plans to list 1 million shares, representing 20% of its share capital. The company, which deals in the sale of cosmetics to medical supplies and general commodity goods, had earlier announced a NOMU float in June 2023, which included a 600,000-share offering. However, later that month, financial advisor and lead manager Yaqeen Capital announced the incompletion of the offering. A third company that has received a nod of approval from the CMA is the Saudi-based Consolidated Gruenenfelder Saady Holding Company (CGS), which has registered an offering of 30 million shares, representing 30% of its share capital. CGS, a Swiss-Saudi joint venture, also known as the Coldstores Group of Saudi Arabia, operates in industrial and commercial refrigeration transporting and storage solutions. Saudi has seen a surge in listings on its Parallel Market in the first half of 2025 with close to 20 IPOs, according to Tadawul data. (Writing by Bindu Rai, editing by Seban Scaria)
Arab News
24-06-2025
- Business
- Arab News
Closing Bell: TASI rises 2.37% to close at 10,964
RIYADH: Saudi Arabia's Tadawul All Share Index rose 254.04 points, or 2.37 percent, to close at 10,964.28 on Tuesday. Total trading turnover reached SR8.48 billion ($2.26 billion), with 248 stocks posting gains and five declining. The Kingdom's parallel market Nomu also recorded an increase, gaining 492.72 points, or 1.87 percent, to settle at 26,850.79, as 73 stocks advanced and 22 retreated. The MSCI Tadawul 30 Index, meanwhile, gained 29.06 points, or 2.11 percent, to finish at 1,406.69. Red Sea International Co. was the best-performing stock of the session, with its share price rising 9.97 percent to SR42.45. Salama Cooperative Insurance Co. followed with a 9.92 percent increase to SR13.52. Other gainers included Saudi Cable Co., which rose to a fresh year high on Tuesday, closing at SR147.20 with a 6.05 percent increase. On the losing side, SABIC Agri-Nutrients Co. saw the steepest decline, falling 4.58 percent to SR104.2. Saudi Arabian Oil Co. dropped 1.62 percent to SR24.34, and Taleem REIT Fund declined 0.85 percent to SR9.30. Dar Al Arkan Real Estate Development Co. announced its intention to issue a dollar-denominated, fixed-rate, Shariah-compliant sukuk under Regulation S, as it seeks to broaden its funding base and support general corporate purposes. The Riyadh-based property developer has appointed a consortium of regional and international banks to act as joint lead managers and bookrunners for the issuance. These include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Alkhair Capital, as well as Al Rayan Investment and Arqaam Capital. Other participants are Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, and First Abu Dhabi Bank. The list also features J.P. Morgan, Mashreq, and Sharjah Islamic Bank, as well as Standard Chartered Bank, and Warba Bank. The appointed banks will arrange a series of fixed income investor calls starting June 24, ahead of the planned sukuk offering in global capital markets. The transaction remains subject to market conditions and regulatory approvals, including compliance with Financial Conduct Authority and International Capital Market Association stabilization rules. The offering is classified as a benchmark senior unsecured sukuk under Regulation S, which allows for international placement with institutional investors. The value of the sukuk will be determined based on market conditions at the time of issuance. According to the company's statement on Tadawul, the proceeds from the issuance will be used for general corporate purposes. The board of directors approved the sukuk issuance on May 29. Dar Al Arkan's share price closed the session 2.70 percent higher to reach SR19.
Argaam
23-06-2025
- Business
- Argaam
Chinese investors show growing interest in Saudi market: CSOP
CEO of China's CSOP Asset Management Chen Ding said that Chinese investors are showing growing interest in the Saudi market. This reflects an increasing desire to diversify portfolios beyond traditional markets, especially given the limited overseas investment quotas in China under the QDI program.
