Saudi Arabia: Saudi Arabia’s Tadawul All Share Index increased on Monday, gaining 2.58 points, or 0.02 percent, to close at 12,471.72.        

The total trading turnover of the benchmark index was SR5.93 billion ($1.58 billion), as 72 stocks advanced, while 159 retreated.             

The MSCI Tadawul Index also increased by 0.68 points, or 0.04 percent, to close at 1,550.94.         

The Kingdom’s parallel market, Nomu, gained 12.11 points, or 0.04 percent, to close at 31,426.76. This comes as 37 stocks advanced while 52 retreated.          

Al-Babtain Power and Telecommunication Co. was the best-performing stock of the day, with its share price surging by 4.44 percent to SR47.        

Other top performers included East Pipes Integrated Co. for Industry, which saw its share price rise by 3.75 percent to SR160.60, and Makkah Construction and Development Co., which saw a 3.52 percent increase to SR111.80.        

Al Majed Oud Co. rose 3.32 percent to SR168, while Allied Cooperative Insurance Group gained 3.26 percent to SR17.76.    

Al Yamamah Steel Industries Co. saw the steepest decline of the day, with its share price easing 6.32 percent to close at SR36.30.    

Saudi Fisheries Co. fell 3.40 percent to SR53.90, while Leejam Sports Co. dropped 4.84 percent to SR169.20.    

Thimar Development Holding Co. also faced a loss with its share price dipping 2.75 percent to SR56.50, while Shatirah House Restaurant Co. saw a 3.12 percent to settle at SR22.94.     

On the announcements front, Leejam Sports Co. reported a 13 percent year-on-year growth in revenue for the financial year 2024, reaching SR1.50 billion. Net profit also surged by 28 percent, amounting to SR456 million compared to SR356 million in 2023.   

The increase in revenue was driven by a 10 percent rise in subscription and membership revenue and a 31 percent increase in income from paid programs, including personal training and swimming.   

The company’s revenue growth trailed historic trends partly due to changes in the subscription and brand mix.    

Leejam also recorded notable one-off gains in 2024, including SR92 million from the sale of three land plots in Riyadh and SR18 million from favorable rent negotiations related to centers in Ras Al-Khaimah, UAE.  

Despite the recorded gains, Leejam was among TASI’s worst performers.  

Saudi Electricity Co. has announced plans to hold meetings with fixed-income investors starting Feb. 10 regarding a potential issuance of US dollar-denominated sukuk under its international sukuk program.  

The issuance will be conducted through a special-purpose vehicle and offered to eligible investors in Saudi Arabia and internationally, subject to market conditions.   

The sukuk will be senior unsecured and issued in compliance with relevant regulatory approvals and laws.  

SEC has appointed a consortium of global and regional financial institutions, including HSBC, Standard Chartered Bank, BNP Paribas, and others, as joint lead managers for the potential offer.   

The proceeds from the issuance will be used to support SEC’s general corporate purposes, including capital expenditures, and to fund projects aligned with its Green Sukuk Framework.  

The final terms, including the value of the offer, will be determined based on market conditions and SEC’s requirements.