RIYADH: Saudi Advanced Petrochemical Co. will increase its capital by 20 percent to SR2.6 billion ($693 million) through granting bonus shares. Shareholders are set to receive one bonus share for every five shares held, a bourse filing showed. The move comes in line with the Jubail-based firm’s expansion efforts. In a statement, the company said the move aims to support its
RIYADH: Saudi stocks surged for a second consecutive day on Monday as investors’ sentiment improved on the back of solid earnings, despite growing Ukraine-Russia conflicts. At the closing bell, the main index TASI, rose 1.4 percent to 12,590, closing the month 2.6 percent higher. The parallel market, Nomu, gained 0.28 percent to 25,022. Saudi Arabia’s Scientific & Medical