RIYADH: Saudi Arabia’s Tadawul All Share Index declined on Wednesday, shedding 7.99 points, or 0.07 percent, to close at 11,867.92. The total trading turnover of the benchmark index was SR4.78 billion ($1.27 billion) with 88 of the listed stocks advancing, while 141 declined. Saudi Arabia’s parallel market Nomu, however, gained by 0.98 percent to 29,859.11. The MSCI Tadawul Index marginally slipped 0.49 points to close at 1,491.34. The best-performing stock of the day was Al-Baha Investment and Development Co., with its share price increasing by 7.14 percent to SR0.30. Fawaz Abdulaziz Alhokair Co.’s share price rose by 8.29 percent to SR14.10, while Development Works Food Co.’s stock surged by 6.85 percent to SR131. Conversely, Saudi Chemical Co. recorded the biggest drop, falling 2.90 percent to SR9.71. On the parallel market, the top performer was Dar Almarkabah for Renting Cars Co., with its share price surging 15.45 percent to SR50.80. Saudi Investment Bank announced the launch of its US-denominated additional tier 1 capital sustainable sukuk under its sukuk program. In a statement to Tadawul, the bank revealed the appointment of Alistithmar for Financial Securities and Brokerage Co., Citigroup Global Markets Limited, HSBC Bank, and JP Morgan Securities as joint lead managers. It also appointed Goldman Sachs International, MUFG Securities EMEA plc, Arqaam Capital Limited, and Standard Chartered Bank as bookrunners. The offering, available to eligible investors in Saudi Arabia and internationally, commenced on Nov. 20 and is scheduled to close on Nov. 21. With a minimum subscription of $200,000, the sukuk will be perpetual and callable after five years. Saudi Investment Bank’s share price rose 2.65 percent to SR13.58. Knowledge Tower Trading Co. has announced a board resolution to transfer from the parallel market to the main market, subject to market approval and fulfillment of all regulatory requirements. Following the announcement, the company’s share price saw a significant increase of 7.20 percent, closing at SR10.90