JEDDAH: Saudi Arabia’s Tadawul All Share Index climbed 140.27 points, or 1.38 percent, on Wednesday to close at 10,308.37, extending its gains for a third consecutive session. Trading volume reached 270.1 million shares, with a combined value of approximately SR4.78 billion ($1.27 billion) across 458,073 transactions. Of the listed companies, 210 advanced, while 52 declined. The Nomu parallel market advanced 94.98 points, or 0.43 percent, to close at 21,948.57, with 44 stocks advancing and 23 declining. The MSCI Tadawul 30 Index also gained 18.45 points, or 1.34 percent, to end the session at 1,397.82. Market movers Raoom Trading Co. and Knowledge Economic City led the market’s gainers, each rising 9.95 percent to close at SR80.70 and SR20.99, respectively. Nofoth Food Products Co. advanced 9.38 percent to SR6.65, while Saudi Cable Co. gained 9.32 percent to close at SR179.50. On the downside, Advanced Building Industries Co. was the biggest decliner, dropping 6.48 percent to SR24.09. Anaam International Holding Group fell 4.65 percent to SR11.90, followed by Development Works Food Co., which shed 4.60 percent to close at SR69.50. Corporate disclosures Saudi Cable Co. announced that the Capital Market Authority had approved the company’s application to increase its capital by SR400 million through a rights issue, according to a bourse filing. The company said the CMA’s approval, announced on Nov. 10, remains subject to its extraordinary general assembly approving the capital increase. Saudi Cable said it would announce the date of the assembly meeting later and subsequently publish the rights issue prospectus. Saudi Fisheries Co. revealed its accumulated losses had reached SR24.8 million, representing 37.03 percent of its SR66.99 million capital, based on financial statements for the period ended Sept. 30., according to a market statement. The company attributed the losses to the suspension of its commercial operations as part of its restructuring, the absence of revenue during the period despite continued general and administrative expenses, and losses from discontinued operations, as well as impairment losses on non-financial assets. SFICO added that measures to address the losses include completing the sale of a 51 percent stake in Al-Haridha National Aquaculture Co. to Sarah National Trading Co., selling the company’s headquarters land and building in Riyadh’s Al-Malaz district, and continuing to rationalize operating expenses. The company, whose share price climbed 8.18 percent to SR61.50, also said it was evaluating options to strengthen its financial position, adding that its proposed capital increase failed to secure the required majority at an extraordinary general assembly meeting on Sept. 27. First Avenue for Real Estate Development Co. announced that its board of directors had approved transferring the company from the Nomu Parallel Market to the Main Market, according to a Tadawul filing. The company added that its board had passed the resolution on Nov. 10, while noting that the proposed transfer remains subject to Saudi Exchange approval and compliance with all applicable regulatory requirements. First Avenue, whose shares edged up 0.56 percent to SR1.81, said it would keep shareholders informed of any further developments. Makkah Construction and Development Co. announced it had signed a 25-year land lease agreement with Al-Balad Al-Ameen for Development and Urban Regeneration to invest in and develop Al-Misfalah Park in Makkah, according to a market statement. MCDC said that the agreement, signed on Nov. 10, covers a site spanning approximately 109,000 sq. meters and aims to transform the existing park into an integrated destination combining green spaces with commercial and recreational activities. It added that the annual rental value is approximately SR25.8 million, excluding value-added tax, with a 10 percent increase every five contractual years. The lease includes a 30-month grace period distributed over the first five years, with the 25-year term starting from the date the site is handed over. The company, whose share price increased 3.13 percent to SR66, said the project is expected to generate recurring rental income after the development work is completed and operations begin. Al-Ashghal Al-Moysra Co. announced it had been awarded a SR15.47 million project by the Saudi Authority for Industrial Cities and Technology Zones, according to a Tadawul release. The company said that the contract covers the operation and maintenance of buildings and urban assets in the first cluster of the authority’s western sector. The Nomu-listed Al Ashghal, whose shares rose 2.04 percent to SR17, added that the project was awarded on Nov. 10, with the contract scheduled to be signed on Dec. 1.