Oil Updates – costs edge up on Center East danger

Space-Separated Links URL URL URL URL Space-Separated Links url url url url url url url url url url url url url url url url url url url url url url url url


RIYADH: Saudi Arabia’s Tadawul All Share Index concluded its Monday buying and selling at 12,295.91 factors, recording a rise of 86.85 factors or 0.71 p.c.  

The Kingdom’s parallel market Nomu additionally superior by 4.50 factors or 0.02 p.c to 25,305.48 factors. 

The MSCI Tadawul 30 Index edged up 10.76 factors to 1,591.25, marking a 0.68 p.c development.  

By the shut of buying and selling, the first index recorded a turnover of SR11 billion ($2.9 billion), as 96 shares elevated and 125 retreated.   

Conversely, Nomu posted a buying and selling quantity of SR30.8 million. 

On the announcement entrance, the Center East Healthcare Co. has initiated a sukuk issuance in Saudi riyals, focusing on a elevate of SR1 billion.  

The subscription interval is ready from Feb. 12 to Feb. 25, 2024, with every sukuk priced at SR1,000, carrying a five-year maturity, in keeping with a bourse submitting. 

Geared toward each particular person and institutional traders, the minimal subscription is ready at 5 sukuk, totaling SR5,000. 

Al-Rajhi Monetary Co. will handle institutional investments, whereas particular person traders can apply by means of Al-Rajhi Financial institution’s on-line platforms.  

The Center East Healthcare Co. additionally outlined provisions for the early redemption of the sukuk below particular situations, detailed within the primary issuance prospectus, guaranteeing flexibility and safety for traders.

Moreover, Etihad Atheeb Telecommunications Co. introduced the beginning of its capital improve subscription section and buying and selling interval for precedence rights, aiming to boost its capital from SR89.99 million to SR339.99 million.  

This initiative, valuing SR250 million, commenced on Feb. 12 and can conclude with the buying and selling of precedence rights on Feb. 19. The subscription section will proceed till Feb. 25. 

The telecom large plans to difficulty 25 million shares at a nominal worth of SR10 per share, marking a 277.78 p.c improve in its capital. 

Shareholders are allotted roughly one proper for each share at present held, the corporate acknowledged in a Tadawul submitting. 

Furthermore, United Electronics Co., also called Additional, introduced its monetary outcomes for Dec. 31, 2023.  

The corporate noticed SR6.2 billion in income in 2023, a 2.81 p.c development in comparison with the yr earlier than. 

In line with a bourse submitting, this improvement is attributed to a marginal improve in retail sector gross sales, revenues from the corporate’s companies, and client finance development. 

Nonetheless, the corporate’s web revenue noticed a major drop from SR440 million in 2022 to SR390 million final yr, an 11.29 p.c lower.