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Tadawul Ends Flat as ANB Launches Dollar Sukuk

Saudi Tadawul index closed nearly flat Tuesday at 10,667, with mixed stock moves, while Arab National Bank launched a dollar sukuk on LSE.
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Saudi Arabia’s Tadawul All Share Index ended little changed on Tuesday.
The benchmark slipped 3.12 points, or 0.03 percent, to close at 10,667.44.
Turnover stood at SR4.32 billion ($1.15 billion), with 66 stocks up and 186 down.

The parallel market Nomu declined 1.12 percent to 25,642.38.
Meanwhile, the MSCI Tadawul Index edged higher by 1.92 points to 1,383.42.
Market activity reflected mixed investor sentiment amid modest trading volumes.

Saudi Pharmaceutical Industries topped gainers, rising 3.49 percent to SR27.30.
Tamkeen Human Resource Co. advanced 1.98 percent, while Al Kathiri Holding gained 1.90 percent.
On the downside, Naseej International fell 6.28 percent, and newcomer Marketing Home Group dropped 4.94 percent.

On the corporate side, Arab National Bank announced the launch of a dollar-denominated Tier 1 sukuk.
Subscriptions opened Sept. 2 with a $200,000 minimum and $1,000 increments.
The issuance size and pricing will be set based on prevailing market conditions.

The sukuk will be listed on the London Stock Exchange’s International Securities Market.
It is offered under Regulation S of the US Securities Act of 1933, as amended.
ANB said the closing date is indicative and subject to final market dynamics.

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