JEDDAH, 5 February 2007 — The total value of shares traded at the Tadawul dropped by 10 percent in January 2007 to reach SR183.08 billion ($48.82 billion) as compared to previous month.
Tadawul said in its monthly report that at the end of January, the Tadawul All-Share Index (TASI) closed at 7,041.22 points, 11.24 percent lower than the 7,933.29 points posted in December 2006. The Tadawul index fell 63.87 points to 7,134.80 yesterday.
Market capitalization also decreased by 10.95 percent to SR1.09 trillion ($291.09 billion) in the period under review.
The report said the total number of shares traded declined by 9.13 percent to 4.72 billion in January as compared to 5.20 billion in December.
Likewise, the total number of transactions executed during January fell by 8.53 percent to 5.42 million as compared to 5.93 million trades a month earlier.
In the industrial sector, shares of Saudi carpet maker Al-Abdullatif Industrial Investment Co., which made debut on Saturday, dropped 4.02 percent to SR53.75 on its second day of trading, after a healthy reception earlier in which the stock soared 33.33 percent to SR56.
In the banking sector, shares of Samba Financial Group and Saudi Hollandi Bank (SHB) rose while shares of all other banks declined yesterday. Samba shares edged higher by 2.10 percent to SR133.75 and SHB by 0.75 percent to SR67.50, as the bank increased its paid-up capital from SR2.205 billion to SR2.646 billion by capitalizing SR441 million from the bank’s general reserves.
The stock market turnover was over SR10.66 billion yesterday.
Moreover, Tadawul witnessed new listings in January 2007. Advanced Polypropylene Co. (APPC) was listed with a paid up capital of SR1,413.75 million, divided into 141.375 million shares on Jan. 20. The company offered 66.375 million shares at a nominal value of SR10 per share.
Al-Babtain Power & Telecommunication Co. and Fawaz Abdulaziz Alhokair Company were added to Tadawul index as the stocks close price on Jan. 23.
The monthly report further said that the National Company for Glass Industries increased its paid up capital by issuing one bonus share for every four shares held, raising its total number of issued shares to 25 million in January.
Saudi Advanced Industries Co. also increased its paid up capital in January by issuing 32.4 million shares (rights issue) at a price of SR20 per share (SR10 as nominal value and SR10 as a premium), raising its total number of issued shares to 43.2 million.
The report also noted the Capital Market Authority’s decisions in January to suspend stocks of Bishah Agriculture Development Company and Anaam International Holding Group Co.
