Major shareholders up stakes in 31 Tadawul-listed firms

Major shareholders increased their stakes in 19 companies listed on the Saudi Stock Exchange (Tadawul) and bought over five percent equities into 12 other companies throughout 2015, a recent study conducted by Argaam showed.

The market also witnessed 36 divestments along with 19 shareholders unloading their stakes.

Buruj Cooperative Insurance Co. saw the largest equity increase of six percent by Gulf Insurance Co. to 28.5 percent.

Saudi Steel Pipe Co. came second, as Khaled Saleh Al Shathry boosted his stake in the company to 10.3 percent, a 3.9 percent increase.

In Saudi Hollandi Bank and Al-Rajhi Bank, Saudi Arabia’s General Organization for Social Insurance (GOSI) raised its holding by 0.1 percent to 10.5 percent and 10.2 percent, respectively.

The Public Pension Agency (PPA) increased its stake in Saudi Telecom Co. (STC) by 0.1 percent to 6.8 percent.

Meanwhile, Al-Ahli Capital Funds 4 and 13 joined Saudi Research and Marketing Group (SRMG), purchasing 29.9 percent equity, or over 19.9 million shares, each.

Jazan Development Co. tailed the list, as Abdul Aziz Saleh Suleiman Al Amri bought a 5.3 percent stake (more than 150,000 shares).

For equity reduction, Tabuk Agriculture Development Co. saw the steepest decline of 18.3 percent to a 6.7 percent stake by Abdullah Abdulaziz Saleh Al Rajhi.

GOSI lowered its holding in Alinma Bank, Saudi Arabia Fertilizers Co. (SAFCO), Qassim Cement Co. and Riyad Bank by 4.9 percent. It also reduced its stakes in The Saudi Investment Bank (SAIB) and Saudi Arabian Mining Co. (Maaden) by 4.3 percent and 1.6 percent respectively, and in Saudi Cement Co. by 0.3 percent.

Leaving the Saudi major shareholders’ list, Atheel Holding cut its 46.6 percent stake in Bawan Holding to less than five percent. Kingdom Holding Co. (KHC) offloaded its entire 29.9 percent equity in Saudi Research & Marketing Group (SRMG) in a private off-market transaction for SAR 837 million.

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

Since 2011, Argaam has displayed major ownership changes for all listed companies. Argaam subscribers can review the daily changes by clicking the link listed on the company or firm’s name.