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

One major shareholder boosted ownership in a company listed on the Saudi Stock Exchange (Tadawul), another one reduced equity, and five shareholders offloaded their stakes during the week ending March 15, data compiled by Argaam showed.

Hamdan Al Sorayai increased his holding in Tadawul-listed Al Sorayai and Industrial Group Co. by 0.52 percent to 5.78 percent through a share swap deal.

Meanwhile, Lafana Holding Co. cut its stake in Middle East Paper Co. (MEPCO) by 4.80 percent to 18.43 percent.

Khaled Al Barrak also cut his stake in Najran Cement by 1.08 percent, while Al Shaer Trading Corporation reduced its 5.49 percent equity in the National Industrialization Co. (Tasnee) to 5.43 percent through a share swap deal.

Al Humaidi Est. and Zahid Holding Group reduced their stakes in Saudi Hardware Co. (SACO) and United International Transportation Co. (Budget Saudi) by 2.19 percent and 0.28 percent respectively.

Leaving the Saudi major shareholders’ list, Amin Shaker cut his 7.21 percent stake in Red Sea International Co. to less than 5 percent.