The Saudi

The Saudi stock market is on their way to registering profits at the monthly and separate levels, supported by the constantly improved investors to the news of its plans to increase the roof of foreigners in listed businesses. At the beginning of Tuesday’s trade, the “Tassi” index rose slightly to 11,442 points, supported by the rise of the shares of ‘Al -Rajhi Bank’, ‘Sabic’ and ‘Petro Rabigh’ in exchange for the decline in the shares of ‘Aramco’ and ‘Alinma Bank’. Mohamed Al -Farraj, head of the first asset management in “financing profit”, says that trading data at the end of last Thursday’s session shows the high percentage of foreign ownership in about 140 businesses in the Saudi market, which is an indication of its point of view on the start of foreign investors. During an intervention with ‘Al -Sharq’, he added the arrow of Al -Rajhi, ownership of foreigners rose from 14.58% to 14.76%, which is why there is a demand from foreign investors on the bank’s arrow in the midst of expectations of five to six billion to the arrow. “He explained that foreign investment will focus on high -fluid stocks,” in which the coefficient of the integration of foreign investors decreases with a plethora of free trading stocks such as Dar Al -Arkan, and its entire shares freely trading, and pastures with a free trading shares in which 98% except all -RAJHI Bank. ” regarding individual trading shares, Petro Rabigh’s shares increased by 2.6% in the early trading. This comes after the company announced the approval of the extraordinary general meeting to raise the capital by approximately 5.3 billion Riyals, through a special offer from the founding shareholders. Ikrami Abdullah, chief financial analyst in the Al -iqtisadiah newspaper, says that the offer is very close to the idea of ​​excellent shares as it enables the company to improve the payment of debt without making the approval of all shareholders, in return for the founders to obtain specific distributions, and the priority to pay if the liquidation is not in the right way. He added during an intervention with “Al -Sharq”: “This is an important decision for the company, because the biggest printing factor is currently the highlight of the debt compared to property rights. Paying part of the debt will reduce the cost.