Plastic manufacturer APICO to begin book building for 20% stake IPO on Sept 11

Follow-ups -eshrag News:

RIYADH: Saudi stocks declined in last week’s final session in line with most Gulf peers, as oil prices continued to fluctuate.

The main TASI index finished 0.2 percent lower at 12,621, while the parallel Nomu market edged up 0.2 percent to 21,574.

Abu Dhabi, Dubai, Bahrain, and Oman all lost between 0.1 and 1.5 percent, while Qatar and Kuwait bucked the trend to close 0.2 percent higher.

Elsewhere in the Middle East, the Egyptian EGX30 index gained 0.4 percent.

Oil prices steadied on Friday but fell for the week on a stronger US dollar and fears that an economic slowdown would weaken crude demand.

Brent crude settled at $96.72 a barrel and US West Texas Intermediate crude exited the week at $90.77. 

Stock news

Maharah Human Resources Co. secured SR363 million ($97 million) financing from Saudi banks, following the completion of an acquisition in Saudi Medical Systems

National Metal Manufacturing and Casting Co.’s losses widened by 6 percent to SR15.3 million in the first half of 2022

Saudia Dairy and Foodstuff Co. reported a 48 percent profit surge for the second quarter of 2022 to SR56 million

Al-Omran Industrial Trading Co.’s board proposed a SR60 million capital increase after the company’s first-half profit dropped 19 percent to SR5.9 million

The Mediterranean and Gulf Insurance and Reinsurance Co., known as MEDGULF, turned into losses of SR131 million in the first half of 2022

Profits of Saudi Home Loans Co. rose by over 8 percent to SR64 million in the first half of 2022

Saudi Pharmaceutical Industries and Medical Appliances Corp. swung into losses of SR21 million during the first half of 2022

Tourism Enterprise Co. returned to profit amounting to SR155,508 in the first half of 2022

Saudi Reinsurance Co.’s net profit before Zakat dipped 62 percent to SR14 million in the first half of 2022

Saudi Automotive Services Co. posted a 57 percent rise in first-half profit to SR38 million

Saudi Arabian Amiantit Co. saw its half-year losses shrink by 83 percent to SR10 million

Amiantit’s half-owned unit Tawzea Co. was awarded a SR400 million project to provide water treatment services

Jabal Omar Development Co.’s first-half losses widened by 316 percent to SR311 million

AME Co. for Medical Supplies announced a 62 percent increase in half-year profit to SR15 million

Arabian Plastic Industrial Co. said it intends to proceed with an initial public offering of a 20 percent stake on the Saudi Exchange

Canadian Medical Center Co. reported SR8 million in profit for the first half of 2022, up 60 percent from a year earlier

Gas Arabian Services Co.’s half-year profit jumped 16 percent to SR18 million

Gulf Union Alahlia Cooperative Insurance Co.’s losses narrowed by 82 percent to SR19 million in the first half of 2022

SABB Takaful Co. posted a 15 percent profit increase to SR5.6 million for the first half of the year

Saudi Industrial Services Co. intends to purchase up to 10 percent of its ordinary shares to be held in treasury

Najran Cement Co. appointed Waleed Al-Mousa as chairman of the board and Fahd Al-Rajhi as vice chairman

Al Alamiya for Cooperative Insurance Co. turned into losses of SR20 million during the first half of 2022


August 22, 2022

International Human Resources Co. will start trading its shares on the Saudi Exchange

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