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- MSCI Tadawul 30 Index gained 0.24% to finish at 1,423.94
- Parallel market Nomu increased 0.48% to settle at 27,375.84
RIYADH: 萝莉视频鈥檚 Tadawul All Share Index gained 8.04 points, or 0.07, to close at 11,129.64 on Wednesday.
Total trading turnover reached SR5.41 billion ($1.44 billion), with 103 stocks posting gains and 140 declining.
The Kingdom鈥檚 parallel market, Nomu, also recorded an increase, gaining 130.72 points, or 0.48 percent, to settle at 27,375.84, as 32 stocks advanced and 41 retreated.
The MSCI Tadawul 30 Index also gained 3.34 points, or 0.24 percent, to finish at 1,423.94.
BAAN Holding Group Co. was the best-performing stock of the session, with its share price rising 9.73 percent to SR2.48. Saudi Industrial Export Co. followed with a 7.66 percent increase to SR2.39.
Other gainers included Almunajem Foods Co., which rose to a fresh year high on Wednesday, closing at SR77 with a 5.77 percent increase.
On the losing side, Buruj Cooperative Insurance Co. saw the steepest decline, falling 3.24 percent to SR17.92. Saudi Industrial Development Co. dropped 3.07 percent to SR30.9, and National Shipping Co. of 萝莉视频 declined 3.06 percent to SR23.75.
On the announcements front, 萝莉视频n Mining Co., also known as Ma鈥檃den, finalized its acquisition of all shares owned by AWA Saudi and Alcoa Saudi in two of its major subsidiaries, according to a statement on the Saudi Stock Exchange.
The move follows the approval by Ma鈥檃den鈥檚 extraordinary general assembly on June 25 to increase the company鈥檚 capital through a share issuance as consideration for acquiring the remaining stakes in Ma鈥檃den Bauxite and Alumina Co. and Ma鈥檃den Aluminium Co.
According to Ma鈥檃den, the acquisition was made effective, and share allocation procedures were completed on July 1. The newly issued shares were deposited in favor of AWA Saudi and Alcoa Saudi, with the holdings officially listed on the same day.
The acquisition involved Ma鈥檃den purchasing AWA Saudi鈥檚 entire stake in Ma鈥檃den Bauxite and Alumina Co., totaling 128,010,000 ordinary shares 鈥� equivalent to 25.1 percent of the company鈥檚 issued capital.
It also included Alcoa Saudi鈥檚 full shareholding in Ma鈥檃den Aluminium Co., amounting to 165,001,125 ordinary shares, or 25.1 percent of the company鈥檚 issued capital.
To execute the transaction, Ma鈥檃den increased its capital from SR38.03 billion to SR38.89 billion 鈥� a 2.26 percent rise. As a result, the total number of its ordinary shares grew from 3.80 billion to 3.89 billion.
Under the new share distribution, Alcoa Saudi received 67,612,162 new ordinary shares, representing 1.74 percent of Ma鈥檃den鈥檚 post-acquisition capital, while AWA Saudi received 18,365,385, or 0.47 percent of the capital.
Additionally, Ma鈥檃den paid AWA Saudi SR562.5 million in cash as part of the transaction. The company emphasized that the acquisition does not involve any related parties.
The financial implications of the deal will be reflected in Ma鈥檃den鈥檚 consolidated financial statements for the fiscal year ending June 30.
Ma鈥檃den鈥檚 share price closed 1.72 percent higher to reach SR53.25.
Saudi National Bank announced its plan to redeem its SR2 billion tier-1 capital sukuk in full on July 15, marking the 10th anniversary of the instrument鈥檚 issuance.
The sukuk, which was launched on July 15, 2015, will be redeemed at face value 鈥� 100 percent of the issue price 鈥� in accordance with the terms and conditions set at issuance, the bank stated in a press release published on Tadawul.
The move follows Saudi National Bank鈥檚 securing of the necessary regulatory approval to proceed with the redemption. The full principal amount, along with any accrued but unpaid periodic distributions, will be paid to sukuk holders on the redemption date.
The SR2 billion sukuk issuance comprised 2,000 certificates, each with a face value of SR1 million. It represented 100 percent of the issued sukuk under this offering. Following the redemption, the total value of the sukuk issuance will be reduced to zero.
This redemption reflects the bank鈥檚 capital management strategy and its ongoing commitment to optimizing its financial structure.
The bank鈥檚 share price closed 0.34 percent higher on Wednesday鈥檚 session to SR35.84.