Thursday, December 1 2022

RIYADH: Saudi shares closed higher on Tuesday, bucking the downward trend in most Middle Eastern and global markets.

TASI rebounded from three days of losses to advance 0.5% to 12,300, while parallel market Nomu lost 0.5% to 22,251.

Stock exchanges in Abu Dhabi, Kuwait, Dubai and Egypt fell 2.5, 2.2, 1.5 and 1% respectively.

While those of Qatar, Bahrain and Oman fell slightly between 0.2 and 0.4%.

In energy trading, oil prices posted gains on Wednesday as tight supply outweighed worries about a possible recession and COVID-19 curbs in China.

Brent crude gained 0.6% to $114.28 a barrel and US West Texas Intermediate gained nearly 0.7% to $110.53 a barrel as of 9:11 a.m. KST.

Stock market news

Unitholders of Jadwa REIT Saudi Fund will receive quarterly dividends totaling SR37 million ($9.9 million)

Saudi Indian Co. for Cooperative Insurance, known as Wafa Insurance, has been delisted from the Saudi Stock Exchange

Retal Urban Development Co. has announced its offering price range between SR112 and SR120 per share as it seeks to join Saudi Arabia’s initial public offering boom this year

Al Sagr Cooperative Insurance Co. has been suspended from trading on the Saudi Stock Exchange due to its failure to announce first quarter financial results within the specified time frame

Jabal Omar Development Co. saw its losses decline by 47% to SR 182 million in the first quarter, due to improved post-pandemic business operations

Al Jouf Cement Co. reported a 73% drop in profit to SR5.55 million for the first quarter of 2022

Tourism Enterprise Co., known as Shams, made a profit of SR 87,549 in the first quarter of 2022 after recouping losses of SR 941,441 in the same period a year earlier

Amana Cooperative Insurance Co.’s net loss before Zakat widens 25% to SR29 million in Q1

Arabian Pipes Co. suffered losses of SR 13.2 million last quarter

East Pipes Integrated Co. for Industry announced the resignation of Chairman of the Board Omar Mohammed-Nabil Almidani and Vice Chairman Balkrishan Gopiram Goenka

Saudi Cable Co. losses widened slightly in Q1 to SR37.2m

Anaam International Holding Group made a profit of SR 2.8 million in the first quarter due to an increase in revenue

Scientific & Medical Equipment House shareholders set to receive SR1 per share in cash dividends for 2021

Schedule

May 25, 2022

End of subscription to the IPO of Amwaj International Co.

Listing of Aqaseem Factory for Chemicals and Plastics Co. on Nomu

Beginning of IPO of Retal Urban Development Co.

May 26, 2022

National Environmental Recycling Co. will begin trading on the Nomu parallel market

End of the IPO of Ladun Investment Co.

May 30, 2022

Anaam International Holding Group rights trading closes

May 31, 2022

End of IPO of Retal Urban Development Co.

June 2, 2022

Closing of the subscription for new shares of Anaam International Holding Group

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