Major shareholder ups stake in one Tadawul-listed firm last week

One major shareholder boosted its ownership in a company listed on the Saudi Stock Exchange (Tadawul), with another one reducing its equity and three shareholders unloading their stakes during the week ending Dec. 7, a recent study conducted by Argaam showed.

Al-Watanieh Financial increased its holding in Tadawul-listed Astra Industrial Group by 0.05 percent to 5.55 percent through a share swap deal.

For equity reductions, Saudi Binladin Group cut its stake in Makkah Construction and Development Co. by 0.06 percent to 9.91 percent.

Leaving the Saudi major shareholders’ list, Mohammed Abdullah Zahid cut his 7.50 percent stake in United International Transportation Company Ltd. (Budget Saudi) to less than 5 percent.

Norges Bank reduced its 5.01 percent equity in Malath Cooperative Insurance and Reinsurance Co. to less than 5 percent through a share swap deal.

In Alinma Tokio Marine Insurance Co., Ghassan Shaker also cut his 5 percent stake.

For Nomu Parallel Market, Saad Abo Moati, however, raised his stake in Abdullah Saad Mohammed Abo Moati Stationeries Co. to 15.11 percent from 15.05 percent.