RIYADH: As concerns over the spread of Omicron mounted and investor uncertainty aroused, most of the Gulf Cooperation Council’s stock exchanges ended lower on Monday, including Saudi Arabia.
Saudi bourse’s main TASI index edged down slightly to 11,161 points, while the parallel market, Nomu, declined around 1 percent to 26,237 points.
The Qatari index, QSI, and Oman’s index, MSX30, went down in the range of 0.3 to 0.4 percent.
Bourses of the UAE, Abu Dhabi, and Kuwait all saw fractional gains, while that of Bahrain ended flat.
The wave of initial public offerings and dividend announcements that started last week is still ongoing.
As many as 50 applications for IPOs have been received at the beginning of December, Asharq reported citing Tadawul’s chief Khalid Alhussan.
Financial analyst Majid Al-Suwaigh expects the Saudi stock exchange to witness 20 to 25 IPOs next year, with proceeds amounting to SR25 billion to SR30 billion, Asharq added.
As of 9:23 a.m. Saudi time, Brent crude oil was up $0.14, or 0.18 percent, to $78.74 per barrel, while US WTI crude rose by 0.28 percent to $75.78 per barrel.
Stock news:
Alinma Investment Co. is to distribute a sum of SR10 million ($2.66 million) as dividends to shareholders for the period from March to December 2021. Distribution will take place in 10 days
Bawan Co. will distribute cash dividends at SR45 million – SR0.75 per share – for the second half of 2021. The distribution date is set for Feb. 6, 2022
Saudi Automotive Co. is to pay out dividends of SR12 million for the third quarter of 2021. The distribution date hasn’t been disclosed
Saudi Arabian Amiantit Co.’s board has resolved on Dec. 27 to use the fair value or to re-evaluate the real-estate and the investment properties, which will result in a surplus of SR390 million effective April 1, 2022
Shareholders of Saudi Arabia’s National Gas and Industrialization Co. have approved starting negotiations to acquire shares of Best Gas Carrier Co. – a sole proprietorship
Saudi Chemical Co., or SCCH, signed an acquisition deal of all Eli Lilly’s Cialis prescription rights on Dec. 27. Through the acquisition, AJA Pharmaceutical – a subsidiary of SCCH – will be the manufacturer and supplier for Cialis in the Saudi market
AME Co. for Medical Supplies has announced the registration document for its Nomu listing, setting the indicative offer price at SR50 per share, the IPO financial advisor Aldukheil Financial Group said in a bourse statement
SEDCO Capital REIT is to distribute cash dividends amounting to SR9.75 million -SR0.16 per share – for the fourth quarter of 2021, which will be paid within 60 days
SICO Saudi REIT fund has received a notice from Eskan Development and Investment Co. – the tenant of one of the fund’s properties – not to renew the lease contract
Arabian Cement Co. announced that the cement mills project in Rabigh plant is expected to begin commercial operations by the fourth quarter of 2022 instead of 2021. It added that the project is 99.53 percent complete
Calendar:
Dec. 28, 2021:
Subscription to Batic’s unsubscribed shares starts with over 4 million rump shares available
Dec. 29, 2021:
Last day to subscribe to Batic’s rump shares
Dec. 30, 2021:
End of Al Wasail Industrial IPO bidding and book-building for qualified investors
Sahara International Petrochemical Co., or Sipchem, will start paying out dividends of SR1.09 billion – SR1.5 per share – for the second half of 2021
Yanbu Cement Co. will start paying out dividends of SR156 million – SR1 per share – for the second half of 2021
Dallah Healthcare Co. will start paying out dividends of SR90 million – SR1 per share – for the second half of 2021