Major shareholders raise stakes in 10 Tadawul-listed firms during H1

Major shareholders upped their stakes in ten Tadawul-listed companies and bought into one firm during H1-2017, a recent study conducted by Argaam showed.

The market also witnessed 24 equity reductions with four shareholders leaving the list.

Buruj Cooperative Insurance Co. saw the largest equity increase of 8 percent by Bupa Investment Overseas Ltd. to 34.25 percent.

Aseer Trading, Tourism & Manufacturing Co. came second as Dallah Al Baraka Holding Co. boosted its stake in the company to 53.18 percent, a 3.26 percent increase.

In Saudi Enaya Cooperative Insurance Co., National Health Insurance Co., Daman raised its holding by 0.57 percent to 5.57 percent.

UAE-based telecoms operator Etisalat also upped its stake in Etihad Etisalat Co. (Mobily) by 0.54 percent to 27.99 percent.

Meanwhile, Abdul Rahman bin Abdul Qader Fakieh became a major shareholder in Makkah Construction and Development Co. with a 5.32 percent equity.

In terms of equity reduction, Saudi Cement Co. saw the steepest decline of 3.76 percent to a 5.22 percent stake by Saudi Arabia’s General Organization for Social Insurance (GOSI).

Saudi Oger Co. Ltd lowered its holding in The Saudi Investment Bank (SAIB) by 2.8 percent to 5.77 percent.

In Alawwal Bank and The Saudi British Bank (SABB), Olayan Saudi Investment cut its stakes by 0.03 percent in both banks to 21.7 percent and 16.9 percent, respectively.

Makkah tailed the list with the Saudi Binladen Group reducing its holding in the developer by 0.01 percent to 10.9 percent.

Leaving the Saudi major shareholders’ list, ASAS Healthcare Co. and Olayan Financing Co. cut their 8.25 percent and 5.16 percent stakes to less than 5 percent in Bupa and Saudi International Petrochemical Co. (Sipchem), respectively.

On Nomu-Parallel Market, Mohammed Bin Saleh Al Suhaibani, Chairman of Arab Sea Information Systems, boosted his stake in the company by 0.61 percent to 38.4 percent.

In Development Works For Food Co., Abdulaziz Saleh Suliman Al Omary cut his holding from 4.99 percent to less than 5 percent.

Tadawul’s major shareholders’ list includes stakes exceeding five percent, according to data compiled by Argaam.