Abu Dhabi Ports signs 5 strategic agreements with Jordanian company Aqaba Development Corp

RIYAD: The main index of the Saudi stock exchange, TASI, closed yesterday’s session down 1.34% at 11,160 points, partially ignoring last week’s gains.

The Nomu parallel market jumped 4.23% to 27,025 points.

The fall in the Saudi stock market is in line with global and regional markets, all of which are threatened by the omicron variant of the coronavirus.

Besides Saudi Arabia, regional slaughterers from the previous session included the UAE’s DFMGI index which fell 3.6%, followed by Abu Dhabi’s ADI index and Egypt’s EGX index, in down nearly 2% and 0.9%, respectively.

Stock market news:

The board of directors of SABIC Agri-Nutrients Co. has recommended dividends of SR 1.43 billion ($ 0.38 billion) – SR 3 per share – for the second half of 2021. The company announced earlier in the day Abdulrahman Shamsaddin’s appointment as first CEO, effective January 1, 2022.

Abdullah Saad Mohammed Abo Moati for Bookstores has renewed his SR 50million credit facility agreement with Bank Aljazeera in accordance with Sharia law.

The Mediterranean and Gulf Insurance and Reinsurance Cooperative, MEDGULF, must distribute SR 23.63 million as compensation to holders of rights issues who have not claimed their subscription rights .

Advance International Co.’s initial public offering price for Nomu was set at SR 110 per share, after finalizing the book-building process by FALCOM Financial Services.

Al Sagr Insurance, Gulf Union Alahlia Insurance has announced the start of discussions for a possible merger; a non-binding agreement will be signed to study the feasibility of the merger.

Alkhorayef Water and Power Technologies won a SR 45.36 million contract to provide 36-month maintenance and repair solutions to the National Water Co.

National Shipping Co. of Saudi Arabia, also known as Bahri, has appointed Ahmed Alsubaey, a member of its board of directors, as the company’s managing director, following the resignation of Abdullah Aldubaikhi. The change will take effect in April 2022.

Calendar:

December 20, 2021:

• Listing and trading of Almunajem Foods Co. shares on the main market of the Saudi Stock Exchange begins

• Last day for the negotiation of the SR 300 million rights issue from Batic Investment and Logistics Co.

23 December 2021:

• Last day to subscribe to new Batic shares

• Beginning of the individual subscription to the initial public offering of Jahez Marketing Co., with up to 272,786 shares to be subscribed to