RIYADH: COVID’s new variant has left the Saudi stock market prone to volatility in response to adverse headlines.
On the confirmation of the first Saudi omicron case, Saudi’s main indexes, TASI and Nomu, are expected to see a decline in gains after increasing slightly yesterday.
Saudi Tadawul Group’s IPO subscription period ends today. Price ranges from SR95 ($25) to SR105 per share.
Sadr Logistics’ shareholders approved the board of directors’ recommendation to raise SR175 million through a rights issue worth SR150 million to expand its logistics services, according to a bourse filing.
Sadr’s announcement is expected to lead the shares even higher, after increasing by 8.66 percent yesterday.
Wafrah for Industry and Development Co. announced the submission of the increase of the Company’s capital SR154 million by offering rights issues to the Capital Market Authority.
Saudi Fransi Capital revised the terms and conditions of Bonyan REIT, allowing subscription of non-Saudi investors.
Al Gassim Investment Holding Co. announced the amendment of the company’s zakat returns for the years 2014 to 2018 to settle income disputes in Riyadh.
Saudi’s HSBC rebalanced the bank’s MSCI Tadawul 30 ETF Fund’s basket.
Saudi Paper Manufacturing Co.’s board of directors appointed Alinma Investment Company as the financial advisor for its previously announced right issues offering.
Al Sagr Insurance narrowed its net losses to SR69.2 million in the first 9 months of 2021, in contrast to SR80.9 million in the prior year.
Banan Real Estate signed a full lease contract worth SR10 million for a company-owned property in an effort to grow the company’s revenue.