Market Movements Now | flynas (4264) Stages V-Shaped Recovery on Debut; SAR 436M NEOM Project Boosts BAAN (1820); Final Dividend Eligibility for One Stock
ALRAJHI 1120.SA | 106.40 | -0.09% |
SNB 1180.SA | 42.46 | +0.28% |
SAUDI ARAMCO 2222.SA | 27.60 | +0.15% |
FLYNAS 4264.SA | 49.46 | -1.08% |
BAAN 1820.SA | 1.72 | +0.58% |
TASI Midday Market Update – June 18
The Saudi stock market's Tadawul All Shares Index(TASI.SA) declined 1% in early trading on Wednesday, as regional geopolitical tensions continued to weigh on investor sentiment. The ongoing conflict between Iran and Israel, now in its sixth day, has prompted widespread market caution across Gulf exchanges amid concerns over potential regional instability.
Banking sector performance contributed significantly to the index's decline, with Al Rajhi Bank(1120.SA) decreasing 0.4% and The Saudi National Bank(1180.SA), the kingdom's largest lender, falling 0.8%. Saudi Arabian Oil Co.(2222.SA) shares dropped 0.8%.
Notable individual stock movement included Flynas Co.(4264.SA), which experienced significant volatility in its debut trading session. The airline initially plunged approximately 13% to a daily low of SAR 69.9 before staging a sharp V-shaped recovery that pushed the stock above its offer price of SAR 80. This volatility occurred within the Saudi Exchange's 30% fluctuation limit framework for newly listed stocks during their first three trading days.
Related reads: IPO Monitor | Your Final flynas Briefing: Analyst Rating & Key Data Before Tomorrow's Debut
Market dynamics reflected the intersection of regional geopolitical developments and global monetary policy considerations, as investors balanced potential supply disruption concerns against expectations surrounding Federal Reserve interest rate decisions that could impact regional economic conditions.
Related reads: Full Playbook for Gold, Oil & Stock Index Opportunities
Notable News
SAR 436M NEOM Project Boosts BAAN
BAAN Holding Group Co.(1820.SA) signed a SAR 436 million contract with Sustainable Services Company, a unit of AREIC, to provide catering and nutrition services at NEOM’s Modern Village Complex. The six-year contract, signed June 17, is expected to impact BAAN’s Q2 2025 results.
SHL Approves SAR 100M Loan to Quara
SHL Finance Co.(1183.SA) signed a Sharia-compliant credit facility agreement with Quara Finance Company, providing up to SAR 100 million in financing. The deal, exceeding 1% of SHL's 2024 revenue, involves a related party interest and was secured with adequate collateral per SHL's credit policy.
SNB Issues $1.25B Notes, Calls SAR 4.2B Sukuk
The Saudi National Bank(1180.SA) completed a USD 1.25 billion issuance of Tier 2 capital notes under its euro medium-term note programme, offering 6% annual return over 10 years, callable after 5. The notes will settle on June 24 and be listed on the London Stock Exchange. Separately, SNB announced its plan to redeem in full its SAR 4.2 billion Tier 1 sukuk at face value on June 30, 2025, marking five years since issuance. Regulatory approval has been secured.
Flynas Trading Begins June 18
Flynas Co.(4264.SA) listed and start trading on the Saudi Exchange’s Main Market on Wednesday, 18 June 2025, under the symbol 4264. Initial trading will be subject to ±30% daily and ±10% static price fluctuation limits, reverting to ±10% daily limits from the fourth day.
- Final Offer Price: SAR 80.0 per share (top of the announced price range)
- Market Capitalization: SAR 13.6 billion (~USD 3.6 billion) at listing
- Institutional Oversubscription: Approximately 100x
- Retail Oversubscription: 349.7% coverage
Final Dividend Eligibility
| SYMBOL | ANNOUNCEMENT DATE | ELIGIBILITY DATE | DISTRIBUTION DATE | DIVIDEND AMOUNT |
| Southern Province Cement Co.(3050.SA) | 2025-03-27 | 2025-06-18 | 2025-07-01 | SAR 0.70 |
New 52-Week High as of 11:56 am
| Company | Price (SAR) |
|---|---|
| - | - |
Significant Volume Surge after 11:30 am
| Symbol | Volume Change% | 3M Average Volume | Today's Volume So Far |
| Arabia Insurance Cooperative Co.(8160.SA) | 116.90% | 121,689 | 263,940 |
| Methanol Chemicals Co.(2001.SA) | 116.02% | 286,362 | 618,613 |
| National Gypsum Co.(2090.SA) | 78.34% | 151,504 | 270,195 |
| Modern Mills for Food Products Co.(2284.SA) | 41.58% | 94,108 | 133,241 |
| Theeb Rent a Car Co.(4261.SA) | 15.72% | 90,697 | 104,952 |
| Saudi Research and Media Group(4210.SA) | 14.33% | 93,009 | 106,339 |
Sector Performance as of 12:13 pm
Today's top-performing sectors are as follows:
- REITs Index(TRTI.SA) declined 0.43%
- Food & Beverages Index(TFBI.SA) fell 0.47%
- Financial Services Index(TDFI.SA) dropped 0.54%
Top Gainers as of 12:13 pm
Today's top-performing stocks are as follows:
| Stock | Price | %Chg |
|---|---|---|
| Arabia Insurance Cooperative Co.(8160.SA) | 11.50 | +5.70% |
| National Gypsum Co.(2090.SA) | 19.48 | +4.73% |
| Flynas Co.(4264.SA) | 82.00 | +2.50% |
| Advanced Petrochemical Co.(2330.SA) | 28.10 | +1.26% |
| Al-Babtain Power and Telecommunication Co.(2320.SA) | 49.60 | +0.71% |
Top Losers as of 12:13 pm
| Stock | Price | %Chg |
|---|---|---|
| National Company for Learning and Education(4291.SA) | 143.20 | -5.42% |
| Arabian Pipes Co.(2200.SA) | 5.60 | -4.44% |
| Alkhorayef Water and Power Technologies Co(2081.SA) | 132.00 | -4.35% |
| Saudi Chemical Co.(2230.SA) | 6.61 | -4.20% |
| Ataa Educational Co.(4292.SA) | 62.30 | -4.15% |
- Reporting by Zaid, Sahm News team