Latest news with #TASI
Asharq Al-Awsat
2 days ago
- Business
- Asharq Al-Awsat
Saudi Market Closes at Highest Level in a Month at 11,068 Points
Saudi Arabia's main stock index (TASI) rose on Thursday by about 94.29 points, or 0.86%, closing at 11,068.27 points, its highest level in over a month. Trading liquidity reached SAR5.7 billion (approximately $1.5 billion), marking the biggest weekly gains in two years. Shares of Saudi Aramco, the heaviest-weighted stock in the index, advanced 0.66% to 24.30 riyals. In the banking sector, Al Rajhi Bank and Saudi National Bank shares climbed 0.85% and 0.98% respectively, closing at 94.7 riyals and 36 riyals. Mining giant Ma'aden and petrochemical company SABIC saw their shares rise by 0.39% and 0.73%, ending the session at 50.9 riyals and 54.9 riyals respectively. ADES Holding led the gainers, jumping 7% to 13.82 riyals, followed by Gypsum Co. (Jebsco), which rose 5.6% to 22.4 riyals. On the other hand, newly listed SMC Health Care recorded the steepest decline, falling 3.3% to 23.36 riyals, while shares of Mutawareh dropped 2.5% to 26.75 riyals. Meanwhile, the Saudi Parallel Market Index (Nomu) rose 0.8%, closing at 27,053.1 points. Trading value on Nomu reached 23.5 million riyals, with 3.2 million shares changing hands.
Argaam
2 days ago
- Business
- Argaam
Tadawul announces amended tick size regime
The Saudi Exchange (Tadawul) announced amendments to its minimal incremental price movement bands of traded securities on an order book (tick size bands) for the Main Market (TASI) and the Nomu-Parallel Market, excluding debt instruments. These changes, slated to come into effect as of June 29, further align Tadawul with best global practices, according to a statement. The new tick size regime introduces thinner price spreads. This is besides an additional band for securities priced at SAR 500 and above in order to maintain a sound minimum price variation. Earlier today, June 26, Tadawul canceled all outstanding orders after today's market close, ahead of the announcement of the amended tick size scales.
Argaam
2 days ago
- Business
- Argaam
Tadawul cancels outstanding orders amid tick size changes
The Saudi Exchange (Tadawul) canceled today, June 26, all outstanding orders after market close to prepare for upcoming changes to price tick size bands on the Main Market (TASI) and Nomu-Parallel Market.
Argaam
4 days ago
- Business
- Argaam
SMC to debut on TASI today at SAR 25/share
Shares of Specialized Medical Co. (SMC) starts trading on the Main Market (TASI) today, June 25, under the symbol 4019 and ISIN code SA16B0CHUPH2, priced at SAR 25 apiece. The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply. SMC will be the eighth company to list on TASI this year, following the IPOs of Almoosa Health Co. on Jan. 7th, Nice One Beauty Digital Marketing Co. on Jan. 8th, Derayah Financial on March 10, Arabian Company for Agricultural & Industrial Investments (Entaj) on March 17, Umm Al Qura for Development and Construction Co. (Masar) on March 24, United Carton Industries Co. (UCIC) on May 27, and flynas on June 18. Last year witnessed the listing of 13 companies, in addition to Alistithmar AREIC Diversified REIT Fund. Listing SMC will bring the number of companies listed on Tadawul to 237, excluding the 19 listed real estate investment trusts (REITs).
Zawya
6 days ago
- Business
- Zawya
Saudi's Sport Clubs sets IPO price range, to raise maximum of $69mln
Riyadh-based Sport Clubs Company has set the price range for its initial public offering (IPO) on the Saudi Exchange (Tadawul) between 7 and 7.50 Saudi riyals ($1.87.25-2) per share. The company will raise a minimum of SAR 240.1 million to a maximum of SAR 257.25 million ($68.55 million) from the listing, Saudi Fransi Capital, the financial advisor, underwriter and bookrunner, said in a statement published on the Saudi stock exchange on Sunday. The book-building period for the institutional tranche, which started on June 22, will end on June 26. In March 2025, the company received approval from the Capital Market Authority to sell 34.3 million shares, representing 30% of its share capital, on the main market (TASI). Participating entities can apply for a minimum of 100,000 shares, with a maximum of 5,719,999 shares. The final price will be determined after the completion of the book-building process, followed by the retail subscription, representing 20% of the total shares. Set up in 1994, Sports Clubs operates 56 branches across 18 cities in the kingdom. Its portfolio includes 41 men's clubs under the Body Masters brand, which was launched decades ago, and 15 women's clubs under the Body Motions brand, which was launched four years ago. A 2025 outlook by Saudi brokerage Al Rajhi Capital estimates the kingdom could witness between 50 to 60 IPOs over the next two years, with seven already approved or closed, while 97 IPOs remain under review.
