JEDDAH: Saudi Arabia’s Tadawul All Share Index held firm on Wednesday, losing just 1.66 points, or 0.02 percent, to close at 10,779.96 

As investors traded around 168 million shares worth nearly SR3.5 billion ($933 million), 113 stocks advanced and 147 declined. 

The Kingdom’s parallel market Nomu lost 2.77 points, or 0.01 percent, to close at 21,376.05, with 30 companies gaining and 33 declining. The MSCI Tadawul 30 Index also fell 0.08 points, or 0.01 percent, to close at 1,450.01. 

Market movers 

The main market’s top performer was Raydan Food Co., whose share price increased 10 percent to end the session at SR16.28, while Nofoth Food Products Co. recorded a 9.87 percent increase to close at SR6.57.

Ataa Educational Co. also increased 4.75 percent to end the day at SR42.76. 

On the losing side, Armah Sports Co. decreased 4.92 percent to close at SR67.60, while Flynas Co. declined 4.46 percent to end the session at SR42.02.

Sumou Real Estate Co. also declined 4.13 percent to close at SR25.08. 

Corporate disclosures 

Saudi Vitrified Clay Pipes Co. said Laffan Pipes Co., or Laffan Saudi, has been converted from a one-person limited liability company into an unlisted Saudi joint stock company with issued capital of SR45.5 million, according to a Tadawul filing. 

Laffan Pipes Factory Co. of Qatar has completed its admission as a shareholder through a capital increase against an in-kind contribution, giving it a 45 percent stake in Laffan Saudi, while SVCP retains the remaining 55 percent. 

Laffan Saudi’s issued capital comprises 45.5 million ordinary shares, each with a nominal value of SR1, and has been fully paid through in-kind contributions.  

The development follows an MoU signed between the two companies in February 2024 and a partnership agreement signed about six months later. 

SVCP’s shares declined 3.12 percent to close at SR17.99. 

In another disclosure, Umm Al-Qura for Development and Construction Co. said it signed an agreement to sell a 2,500-sq.-meter plot within Masar Destination in Makkah to Rawajeh Real Estate Co. for SR168.91 million. 

The boulevard-facing plot, located in Zone 2 of Masar Destination, has a book value of SR76.01 million. 

Umm Al-Qura, whose shares rose 2.50 percent to SR17.20, said the sale is part of its development strategy for Masar Destination, with the plot to be developed as a residential tower.

The transaction is expected to have a positive impact on liquidity and financial results, with proceeds to be used to finance working capital and ongoing projects. 

In a separate Tadawul filing, CATRION Catering Holding Co. said it signed an agreement with Air Arabia DMM Co. to provide inflight catering services under a five-year contract valued at an estimated SR200 million.  

Under the agreement, CATRION will provide inflight catering services, sell onboard food, beverages and other supplies, and provide logistics services to Air Arabia.  

The agreement was signed on Sept. 15 and is expected to have a financial impact beginning in the fourth quarter of 2026. 

CATRION, whose share price fell 0.74 percent to SR67.25, said the agreement is part of its strategy to sustain business, strengthen long-term partnerships with airline-sector clients, support growth, diversify revenue streams and enhance operational efficiency.