RIYADH: Arabian Plastic Industrial Co.’s shares are scheduled to begin trading on Tadawul’s Nomu-Parallel Market today, Oct. 5. APICO offered 1 million shares, or 20 percent of its SR50 million ($13 million) market capitalization. The offering coverage was 15.43 times oversubscribed, with the offer price set at SR27 per share. Established in 1996, APICO serves customers across
RIYADH: Arabian Plastic Industrial Co.’s shares climbed 18.52 percent above its listing price on its market debut on Wednesday, suggesting investors still have an appetite for local initial public offerings. The shares of the APICO rose to SR32 ($9) in its early trading on Tadawul’s Nomu-Parallel Market, against a listing price of SR27. APICO offered 1 million shares, or 20
RIYADH: Saudi Arabia’s main index returned to the 12000-point level on the back of a recovery in crude oil prices. Oil prices rose over $1 a barrel on Monday before dropping in volatile Tuesday trade as worries over lower China demand mounted. Brent crude futures edged down to $93.89 a barrel by 9:03 a.m. Saudi time. US West Texas Intermediate crude reached $87.77 a barrel.
RIYADH: Saudi stocks slightly regained momentum on Sunday, lifted by a rebound in crude prices at the end of last week. Oil prices rose about 4 percent on Friday after dropping to a seven-month low earlier in the week, supported by threatened cuts to supply. The Kingdom’s main index TASI advanced 0.9 percent to end at 11,940 on Sunday, while Nomu added 1.5 percent to 20,737.
RIYADH: Saudi stocks slid last week to end lower on Thursday as oil prices fell to seven-month lows before rebounding on Friday. TASI exited the week’s final trading session 0.3 percent lower at 11,834, while the parallel market Nomu edged down 0.4 percent to 20,438. In line with the Kingdom’s bourse, Dubai, Kuwait, and Oman lost between 0.2 and 0.7 percent. Abu Dhabi and