Saudi Arabia’s Tadawul All Share Index rose by 7.23 points, or 0.06 percent, closing at 11,560.39 on Thursday. The total trading turnover reached SR6.45 billion ($1.72 billion), with 70 stocks advancing while 155 retreated. The MSCI Tadawul Index also gained 4.65 points, or 0.32 percent, ending at 1,450.46. The Kingdom’s parallel market, Nomu, increased by 304.90 points, or 1.18 percent, closing at 26,230.43, as 36 stocks advanced and 26 declined.
Miahona Co. emerged as the best performer of the day, with its share price surging 29.91 percent to SR14.94. This increase marked its maximum limit on its debut on the Saudi main market. Miahona, a Saudi joint-stock company operational since 2008, focuses on water and wastewater infrastructure under the public-private partnership model. On May 27, the company announced the allocation of a minimum of 10 shares per individual subscriber, which was 6.1 times oversubscribed, ensuring each subscriber received at least 10 shares. The final offering price was set at SR11.5 per share, with the remaining shares proportionally allocated. Other top performers included Saudi Cement Co. and Taiba Investments Co., with share prices rising by 3.82 percent and 2.71 percent, respectively. Conversely, Saudi Cable Co. was the worst performer, dropping 7.87 percent to SR59.70, along with Alkhorayef Water and Power Technologies Co. and Etihad Atheeb Telecommunication Co., which saw declines of 7.62 percent and 4.83 percent, respectively.