RIYADH: Saudi’s Tadawul witnessed an improved day on Thursday with its indexes ending on a positive note despite omicron threats.
Saudi’s main stock index TASI was up by 0.30 percent to 10,882.79 points and its parallel market Nomu rose 2.53 percent reaching 22,993.20 points, according to a bourse filing.
The biggest moving stocks of the session were Sadr Logistics, Development Works Food, and Baazeem Trading.
Following the approval to raise SR175 million ($46.63 million) through a rights issue worth SR150 million to expand its logistics services, Sadr Logistics, or SADR, recorded the most significant gains, rising by 9.96 percent.
World food prices rose to a 10-year high in November, driven by strong demand, Reuters reported, leading the shares of Development Works Food to rise significantly — up 9.94 percent.
Baazeem Trading Co. came third in the top gainers, up to SR101, in contrast to SR92 in the last close.
Amana Insurance reached SR37.75, up from SR35.5, despite being among the lowest performers in the previous session.
Wafrah for Industry and Development Co.’s announcement to increase the company’s capital by offering SR154 million rights issues to the Capital Market Authority led its shares to rise 6.24 percent.
Naseej International Trading Co. and Al Khaleej Training and Education Co. came on top of the top losers list, dropping 5.59 percent and 2.56 percent respectively.
Naseej’s share value decline was attributed to hitting a 52-week low in terms of price, down by 28 percent in the past 52 weeks.
Financial Services Company, or FALCOM, announced the offering of Alwasail Industrial Company at 10 percent of the company’s total shares and the listing of its shares on Nomu.
The price of the initial public offering will be disclosed after the book-building period. The offering period will start on Dec. 26 and end on Dec. 30.