RIYADH: Saudi Arabia’s Tadawul All Share Index continued its upward movement for the third consecutive day, gaining 46.50 points to close at 12,071.41. The main index posted a trading value of SR9.37 billion ($2.50 billion), with 135 of the listed stocks advancing and 80 declining. On the other hand, the Kingdom’s parallel market Nomu also edged up by 0.04 percent to 25,661.52. However, the MSCI Tadawul Index slipped by 0.01 percent to close at 1,561.13. The best-performing stock on the main index was Middle East Healthcare Co. The company’s share price surged by 9.89 percent to SR122.20. Other top gainers were Al Hammadi Holding and Perfect Presentation for Commercial Services Co., whose share prices edged up by 7.89 percent and 7.27 percent, respectively. The worst performer of the day was Al-Baha Investment and Development Co. as its share price dipped by 6.67 percent to SR0.14. On the announcements front, Saudi Electricity Co. stated that it has commenced its dollar-denominated senior unsecured sukuk offering under its international issuance program. In a statement to Tadawul, the company revealed that the offering will be through a special purpose vehicle and for eligible investors in Saudi Arabia and across the world. The statement added that the final value and offer terms will be determined considering the market conditions. In another disclosure, Herfy Food Services Co. announced that its net profit rose by 136.49 percent in 2023 to SR8.38 billion compared to SR3.54 billion in 2022. The company said that the leap in profit was due to lower general and administrative expenses, along with a decrease in financing expenditure. In another statement, the firm revealed that its board of directors recommended not to pay dividends for 2023. “The reason for the recommendation is to support and strengthen the company"s financial position, in addition to supporting cash liquidity and financing capital expansions for the company,” said Herfy.