Announcement Regarding Eid Al Adha Holiday for The Saudi Exchange

The Saudi Exchange is pleased to announce that Eid Al Adha Holiday will commence on Thursday 15 July 2021. Accordingly, trading will be as follows:
–    Trading will discontinue at the end of trading day of Thursday 15 July 2021
–    Trading will resume after the holiday on Sunday 25 July 2021
Eid Mubarak!


Source: Saudi Exchange

Saudi EXIM Bank, ITFC Sign Agreement to Support Private Sector

Riyadh, The Saudi Export-Import Bank (Saudi EXIM Bank) has signed a framework agreement with the International Islamic Trade Finance Corporation (ITFC) to provide financing services to the Saudi EXIM Bank’s clients. The agreement comes to strengthen the bank’s leading role in supporting and stimulating the private sector and developing the exports of companies operating in the Kingdom of Saudi Arabia.
The agreement was virtually co-signed by the CEO of Saudi EXIM Bank Eng. Saad bin Abdulaziz Al-Khalb, and CEO of ITFC Eng. Hani Salem Sonbol.
According to the agreement, credit facilities will be offered to the clients including providing finance for exporters and imports. This is in addition to pre-export financing and buyer financing.
The Saudi EXIM Bank, since its establishment, works on providing credit facilities, directly or through partnerships with local and international bodies, to its clients. It also works with commercial banks and financial institutions in order to provide integrated financial services to finance Saudi non-oil exports and enhance their competitiveness worldwide, in light of the goals of Saudi Vision 2030.


Source: Saudi Press Agency

Saudi Stock Exchange Main Index Ends Trading Lower at 10,979 Points

Riyadh, Saudi Stock Exchange’s main index ended trading lower here today, losing 5.10 points to close at 10,979.05.
The total value of the trading reported was SR 12 billion, while the toll of shares traded was more than 352 million, divided into over 470,000 deals.
While the stocks of 78 companies ended the trading higher, 108 companies’ shares slumped.
The spread between the advancers and decliners stocks ranged from 9.60% to 6.56%.
The Saudi Parallel Equity Market Index (NOMU) ended the day losing 150.20 points, to close at 22,787.30, with a valuation of SR 19 million and an overall tally of 189,000 stocks traded and divided into as many as 676 deals.


Source: Saudi Press Agency

Bahrain’s Two Main Indexes End Trading with Different Directions

Manama, The Bahrain General Index ended trading here today at 1,587.91, losing 0.06 points compared to the previous closing. The Islamic Index ended trading at 668.60 level, rising 2.22 points compared to the last closing.
The tally of the shares traded was 1,918,463, with a total value of 507,875 BD, carried out through 58 deals.


Source: Saudi Press Agency

More than 17000 New Residential Mortgages with 11% Growth in May 2021 Issued, SAMA Announces

Riyadh, Saudi Arabian banks and financial institutions issued 17,460 new residential real estate mortgages contracts for individuals in May 2021, a growth of 11% compared to May 2020 when 15,730 contracts worth SR7.9 billion were recorded.
On the other hand, the real estate financing grew in May 2021 to more than nine billion Saudi Riyal at a rate of 14%, according to the Saudi Central Bank “SAMA” monthly report issued here today.
SAMA report pointed out that the mortgages contracts for new residential real estate for individuals since the beginning of the year until May 2021 amounted to 135,302 contracts, a growth of 27%. The value of finance surpassed SR71.4 billion until May 2021 while the rate of growth of real estate finance amounted to 48% compared to the same period last year 2020 when 107033 contracts were recorded in the amount of SR48.2 billion.
The report showed that more than 98% of new mortgages contracts were issued through banks, while 2% of them were struck through finance companies in May 2021. The real estate financing for residential villas amounted to SR7.3 billion, a rate of 80% out of the total finance of the funds provided by banks; SR1.4 billion allocated for residential apartments, a rate of 16%,, and residential land purchases amounted to SR415 million, a rate of four percent.
Mortgage in 2020 achieved a record growth in terms of number of contracts concluded as more than 295,590 contracts in the value of SR 140.7 billion, were struck. In 2019, mortgage financing jumped to 179,217 contracts worth SR79.1 billion, an historical performance of more than 3.5 folds compared to 2018. By the end of 2018, finance loans amounted to 50,496 worth SR29.5 billion. In 2017, nearly 30,833 contracts valued SR21 billion were reached, while in 2016 as many as 22,259 loan contracts worth SR17 billion concluded.


Source: Saudi Press Agency

The Capital Market Authority announces the Approval on the Initial Public Offering of International Company for Water and Power Projects’ (ACWA POWER) Shares

The Capital Market Authority (“CMA”) Board has issued its resolution approving International Company for Water and Power Projects’ (ACWA POWER) (“the company”) application for the offering of (81,199,299) shares representing (11.1%) of the Company’s share capital. The Company’s prospectus will be published within sufficient time prior to the start of the subscription period.

The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the Company’s financial statements, activities and management.

A subscription decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the company, the offering and risk factors. Thus, providing potential investors the ability to evaluate the viability of investing in the offering, taking into consideration the associated risks. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision.

The CMA’s approval on the application should never be considered as a recommendation to subscribe in the offering of any specific company. The CMA’s approval on the application merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The CMA’s approval on the application shall be valid for 6 months from the CMA Board resolution date. The approval shall be deemed cancelled if the offering and listing of the Company’s shares are not completed within this period.


Source: Saudi Exchange