JEDDAH: Saudi Arabia’s Tadawul All Share Index fell slightly on Wednesday, losing 15 points, or 0.14 percent, to close at 10,440.64, its lowest level in September.

Trading activity totaled around 189.82 million shares worth nearly SR4.25 billion ($1.13 billion), with 81 stocks advancing and 178 declining.

The Kingdom’s parallel market Nomu rose 20.22 points, or 0.1 percent, to close at 21,307.33, with 26 companies advancing and 35 declining. The MSCI Tadawul 30 Index lost 1.45 points, or 0.1 percent, to close at 1,407.57.

Market movers

The main market’s top performer was Saudi Enaya Cooperative Insurance Co., whose share price increased 9.97 percent to end the session at SR10.48, while Armah Sports Co. rose 9.93 percent to close at SR66.45. Almoosa Health Co. also increased 6.13 percent to end the day at SR117.80.

On the losing side, National Medical Care Co. decreased 6.94 percent to close at SR103.30, while Retal Urban Development Co. retreated 5.87 percent to close at SR8.50. Red Sea International Co. declined 4.76 percent to end the session at SR20.

Corporate disclosures

Saudi Arabia’s Methanol Chemicals Co. announced that it has applied to the Capital Market Authority for approval to increase its share capital by SR350 million through a rights issue.

The proposed offering involves issuing 35 million ordinary shares at a nominal value of SR10 per share, according to a Tadawul filing.

The company’s board recommended the capital increase in May 2024. Chemanol, whose share price increased 0.44 percent to SR27.62, said it will announce further developments in due course.

Arabian Plastic Industrial Co., or APICO, announced a new visual identity as part of its expansion and growth plans, according to a bourse filing.

The company, whose share prices remained unchanged at SR33.62, said the change is limited to its brand name and logo, with no change to its legal name registered in the Commercial Register.

The National Agricultural Development Co., or NADEC, said its wholly owned subsidiary, Al-Raie National Livestock Co., amended its financing agreement with the Agricultural Development Fund, reducing the maximum financing ceiling to SR750 million from SR1.106 billion.

At Al-Raie’s request, the amendment also extends the financing period to 16 years from 15 years, including a four-year grace period, up from three years.

NADEC, whose share price decreased 2.03 percent to SR13.52, said the changes followed a reassessment of the implementation phases and financing structure of the intensive livestock farming project for sheep and goats, breeding, and meat production, resulting in lower external financing needs and more efficient capital allocation.

Al-Masar Al-Shamil Education Co. announced it has agreed with Al-Qalam Educational Trading Co. to extend their non-binding memorandum of understanding to Nov. 30, as per a Tadawul statement.

The company, whose share price advanced 1.14 percent to end the day at SR24, said the MoU, signed in June, covers the proposed acquisition of a 60 percent stake in Al-Qalam, pointing out that the two companies extended the deal to allow more time to complete due diligence and negotiate the final binding agreements.