Bank AlJazira approves SR2.05 billion capital increase

Saudi Arabia's Tadawul All Share Index experienced a slight dip on Thursday, closing at 12,254.53 after losing 101.16 points, marking a 0.82 percent decrease. The total trading turnover for the benchmark index reached SR6.9 billion ($1.84 billion), with 75 stocks advancing and 144 retreating. The MSCI Tadawul Index also saw a decline of 8.99 points, or 0.58 percent, closing at 1,539.63. In contrast, the Kingdom's parallel market, Nomu, showed an increase, gaining 362.13 points, or 1.38 percent, to close at 26,688.25.

Among the top performers of the day was Fawaz Abdulaziz Alhokair Co., with its share price surging by 6.39 percent to SR11.32. Etihad Atheeb Telecommunication Co. and Saudi Cable Co. also saw significant increases, with their share prices soaring by 5.57 percent and 5.35 percent, respectively. On the other hand, Al Sagr Cooperative Insurance Co. experienced a notable decline, with its share price dropping by 7.11 percent to SR33.30. ACWA Power and Bawan Co. also faced decreases in their share prices.

Bank AlJazira's general assembly approved a capital increase of SR2.05 billion, representing a 25 percent growth. Banque Saudi Fransi reported a 7 percent rise in profits during the first quarter of 2024, attributing the increase to a rise in commission income. Additionally, Al-Rajhi Takaful achieved its highest price since listing, reaching SR142.

Saudi Exchange approved the listing request for government debt instruments totaling SR5.1 billion, with trading set to commence on April 29. Rawabi Holding Co. successfully concluded its largest Saudi Riyal-denominated sukuk issuance, totaling SR1.2 billion, surpassing its previous issuance record.