Business

HSBC weighs IPO of Indonesia business: Bloomberg News


RIYADH: Saudi Arabia’s main stock market notched its second day of gains on Wednesday, after listed companies concluded a strong earnings season.

TASI surged 2.3 percent to close at 12,588, whereas the parallel market Nomu slipped 1 percent to 22,020.

TASI led the gains in the Gulf, followed by Abu Dhabi’s stock market with a 0.9 percent gain and Kuwait’s BKP, up 0.6 percent.

Stock exchanges of Qatar and Bahrain edged 0.1 percent lower, while those of Dubai and Oman ended almost flat.

Elsewhere in the Middle East, the Egyptian blue-chip index EGX30 dropped 1.6 percent.

Oil prices rose on Thursday, with Brent crude trading at $114.29 a barrel and US West Texas Intermediate reaching $110.69 a barrel as of 9:14 a.m. Saudi time.

Stock news

Saudi Reinsurance Co. obtained approval from the Saudi central bank to raise capital from SR891 million ($238 million) to SR1.34 billion

Maharah Human Resources’ unit Growth Avenue Investment Co. closed a deal to acquire 40 percent of the shares in Salis for Trading & Marketing

Naqi Water Co. got the Capital Market Authority’s approval for an initial public offering of a 30 percent stake on the Saudi Exchange

Saudia Dairy and Foodstuff Co.’s board recommended a dividend payout of SR3 per share for the second half of the fiscal year ended March 31, 2022

Academy of Learning Co. and Keir International Co. received the CMA’s approval for direct listing on the parallel Nomu market

Batic Real Estate Co., a unit of Batic Investments and Logistics Co., obtained a loan valued at SR200 million to finance potential investments

See also  Malaysia regulator to probe if AirAsia broke rules in Airbus deals

Ataa Educational Co. got CMA’s nod to increase capital to SR421 million in order to fully acquire Naba’a Educational Co.’s shares

Salama Cooperative Insurance Co. submitted a filing to the CMA, seeking to reduce capital by 60 percent to SR100 million

Calendar

May 26, 2022

National Environmental Recycling Co., better known as Tadweeer, will start trading on the parallel market Nomu

End of Ladun Investment Co.’s IPO book-building

May 30, 2022

Close of Anaam International Holding Group’s rights trading

May 31, 2022

End of Retal Urban Development Co.’s IPO book-building

June 2, 2022

Close of Anaam International Holding Group’s new shares subscription 



READ SOURCE

Leave a Reply