Arab News
Arab news, Tue, Jun 03, 2025 | Dhu al-Hijjah 7, 1447
Closing Bell: Tadawul closes higher on Monday as TASI edges up; Nomu surges over 300 points
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index
closed slightly higher on Monday, gaining 24.82 points, or 0.23 percent, to
reach 10,850.09.
Total trading turnover on the main market stood at
SR4 billion ($1 billion).
Market breadth remained mixed, with 116 gainers
against 120 decliners. The MSCI Tadawul 30 Index rose 2.47 points, or 0.18
percent, to settle at 1,384.58.
The parallel market Nomu recorded a more
pronounced gain, climbing 314.77 points, or 1.18 percent, to 26,984, with 31
stocks advancing and 49 retreating.
Savola Group led the main market gainers,
advancing 4.48 percent to close at SR28.
United Carton Industries Co., which recently
debuted on Tadawul, added 4.40 percent to close at SR42.70 with over SR217
million in traded value.
Other notable gainers included Aldawaa Medical
Services Co., which rose 2.92 percent to SR77.60, Middle East Pharmaceutical
Industries Co., up 2.82 percent to SR124, and Jabal Omar Development Co., which
gained 2.76 percent to close at SR21.56.
On the downside, Riyad Bank posted the sharpest
drop of the day, falling 3.51 percent to close at SR27.50.
Zamil Industrial Investment Co. dropped
2.76 percent to SR38.75, while Naseej International Trading Co. declined 2.86
percent to SR78.20.
Emaar The Economic City slipped 2.71
percent to SR12.92, and Abdullah Saad Mohammed Abo Moati for Bookstores Co. fell
2.45 percent to close at SR35.80.
On the announcement front, Al-Modawat Specialized
Medical Co. disclosed that its board had passed a resolution to initiate the
company’s transfer from the Parallel Market to the Main Market.
The move is subject to regulatory approvals and
fulfillment of the market’s listing conditions. Shares of Al-Modawat ended the
day down 1.84 percent at SR17.06.
Saudi Arabian Mining Co. announced that it has
received approval from the Capital Market Authority to proceed with a capital
increase in connection with its previously disclosed acquisition of full
ownership in Maaden Bauxite and Alumina Co. and Maaden Aluminium Co.
The move is part of a share purchase and
subscription agreement signed with AWA Saudi and Alcoa Saudi in 2024.
The capital increase will raise Ma’aden’s share
capital from SR38.03 billion to SR38.89 billion through the issuance of 861.9
million new shares.
The newly issued shares will be used to acquire
100 percent of the shares held by AWA Saudi in MBAC and Alcoa Saudi in MAC,
corresponding to 25.1 percent of the issued capital of each entity.
In total, Ma’aden will issue 89.98 million new
shares to AWA Saudi and 165 million shares to Alcoa Saudi at a nominal value of
SR10 per share.
The transaction is expected to be executed through
a combination of share issuance and cash payment.
The company stated that further updates, including
shareholder meeting arrangements for capital increase approval, will be
announced in due course.
Shares of Ma’aden closed 0.92 percent higher on
Monday at SR49.50.