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RIYADH: Saudi Arabia’s Tadawul All Share Index closed the first trading session of the week on Sunday with a gain of 149.22 points, up 1.24 percent, to close at 12,175.43.
Total trading turnover of the benchmark index was SR6 billion ($1.6 billion), with 143 stocks rising and 84 falling.
The kingdom’s parallel market, Nomu, also rose 82.97 points, or 0.31 percent, to close at 26,502.98, as 36 stocks rose and 34 fell.

The MSCI Tadawul Index rose 22.36 points, or 1.49 percent, to close at 1,524.49.

The best performing stock of the day was Kingdom Holding Co. The company’s share price rose 9.95 percent to SR8.95.

Other companies that did well included Miahona Co. and Saudi Manpower Solutions Co.

The worst performer was Almunajem Foods Co., whose share price fell 4.66 percent to SR98.20.

Sabic Agri-Nutrients Co. announced consolidated interim financial results for the period ended June 30.

According to a statement from Tadawul, the company’s net profit amounted to SR1.54 billion at the end of the first six months of 2024, a decrease of 5.26 percent compared to the corresponding period in 2023.

The decline in net profit included a 6 percent decline in average selling prices, which was limited by a 2 percent increase in volumes sold.

Dr. Sulaiman Al-Habib Medical Services Group also announced its interim financial results for the first six months of 2024.

A stock exchange filing showed that the company’s net profit for the period ended June 30 was SR1.1 billion, up 13.2 percent from the first six months of 2023.

The increase in net profit is mainly attributable to revenue growth as a result of an increase in the number of patients.

The company also announced that its board of directors has decided to pay SR409.5 million in cash dividends to shareholders for the second quarter of 2024.

According to a separate statement from Tadawul, the total number of shares eligible for dividend was 350 million, with a dividend per share of SR1.17.

It also turned out that the percentage of dividends on the nominal value of the share was 11.7 percent.

National Shipping Co. of Saudi Arabia, also known as Bahri, has announced interim financial results for the period ended June 30.

A stock exchange filing showed that the company’s net profit rose 20 percent year-on-year to SR1.18 billion in the first six months of 2024, mainly due to an increase in gross profit and financial income.

“Bahri had a good first half of this year, delivering commendable operational performance across all our divisions,” Bahri CEO Ahmed Ali Al-Subaey said in a statement. “Our success was driven by optimized fleet management and route efficiency, supported by improved market conditions for VLCCs (very large crude carriers) and chemical tankers.”

The Capital Market Authority has issued its resolution approving the request of Arabian Contracting Services Co. to increase its capital from SR500 million to SR550 million. This will be done by issuing one bonus share for every 10 shares held by the shareholders registered in the register at the Securities Depository Center as of the close of the second trading day after the expiration date, which will be determined later by the company’s board of directors.

According to a statement, such increase will be paid for through a transfer of SR50 million from the company’s ‘profit retention’ account to its capital.

Qualified investors can start subscribing for 750,000 shares of ASG Plastic Factory Co. from July 28. The company is expected to be listed on the Nomu Parallel Market at a price between SR40 and SR44 per share.

The offered shares represent 10.64 percent of the capital of SR 70.5 million after the initial public offering or 11.90 percent of the capital before the IPO, divided into 7.05 million shares with a nominal value of SR 10 each.