The Tadawul All Share Index (TASI) closed the week's final session on Sept. 17, 2026 at 10,777.94, down 2.02 points, or 0.02%, according to Saudi Exchange data via Yahoo Finance. The index traded in a range of 10,760.42 to 10,808 during the session, with the previous session close at 10,779.96. Corporate flow drove the week's disclosures. Arabian Drilling Co. added approximately SAR 2 billion to backlog through a new five-year land-rig contract with SLB, and CATRION Catering Holding Co. signed a five-year inflight catering agreement with Air Arabia DMM Co. valued at an estimated SAR 200 million. On the regulatory side, the Capital Market Authority approved a capital reduction at Saudi Vitrified Clay Pipes Co. (SVCP) 2360 to offset accumulated losses, while trading in United Cooperative Assurance Co. 8190 was suspended after the insurer's board requested the opening of financial reorganization procedure. The Saudi Exchange also approved Merrill Lynch Kingdom of Saudi Arabia to conduct market making on 13 listed securities, effective Sept. 9, 2026.
Arabian Drilling signs SAR 2B five-year contract with SLB
Arabian Drilling Co. said in a Tadawul filing on Sept. 14, 2026 that it signed a new five-year contract with SLB for the provision of eight additional land rigs for Gas LSTK operations, adding approximately SAR 2 billion to the company's backlog. The company said the agreement follows a previously announced five-year contract with SLB covering 11 existing land rigs. Arabian Drilling shares closed at SAR 96.35 on the disclosure day, up 2.99%, according to Saudi Exchange data reported by Arab News. The award extends the operator's contracted rig activity with SLB across the gas segment.
CATRION signs SAR 200M five-year contract with Air Arabia DMM
CATRION Catering Holding Co. disclosed a five-year agreement with Air Arabia DMM Co. valued at an estimated SAR 200 million to provide inflight catering services, onboard food and beverage sales, and logistics. The company said in a Tadawul filing that the agreement was signed on Sept. 15, 2026. CATRION said the financial impact of the contract is expected to begin in the fourth quarter of 2026. The award covers a full inflight service scope for the carrier's Dammam operations over the contract term.
CMA approves SVCP capital reduction to SAR 45.43M
The Capital Market Authority approved on Sept. 14, 2026 a request by Saudi Vitrified Clay Pipes Co. (SVCP) 2360 to reduce its capital from SAR 150,000,000 to SAR 45,428,750 to offset accumulated losses. Under the resolution, the number of outstanding shares will fall from 15,000,000 to 4,542,875. The CMA said the approval is conditional on approval by the company's extraordinary general assembly. Separately, SVCP said Laffan Pipes Co. was converted into an unlisted Saudi joint stock company with issued capital of SAR 45.5 million, comprising 45.5 million ordinary shares at SAR 1 nominal value each. Qatar's Laffan Pipes Factory Co. was admitted as a shareholder through an in-kind capital increase, taking a 45% stake, while SVCP retains 55%.
United Cooperative Assurance requests financial reorganization; trading suspended
United Cooperative Assurance Co. (UCA) 8190 said its board of directors decided to request the opening of financial reorganization procedure, citing preservation of shareholders' rights and continuity of the company. The Capital Market Authority subsequently announced the suspension of trading in UCA shares following the disclosure, according to a Saudi Exchange notice dated Sept. 10, 2026. The company did not disclose a timeline for the reorganization filing.
Saudi Exchange approves Merrill Lynch KSA as market maker on 13 securities
Saudi Exchange Co. said it approved Merrill Lynch Kingdom of Saudi Arabia to conduct market making activities on 13 listed securities across the Main Market and the Nomu Parallel Market, with activity commencing on Sept. 9, 2026. In separate notices during the week, the Securities Depository Center (Edaa) implemented a corporate action on Arabian Plastic Industrial Co. securities, following the CMA's earlier approval of a capital increase from SAR 75,000,000 to SAR 102,000,000 via a 1-for-3 bonus issue. Edaa also implemented a corporate action on The Company for Cooperative Insurance securities. Saudi Exchange separately announced the suspension of trading in National Gypsum Co. shares after the company's update on its inability to publish the interim financial results for the six months ended June 30, 2026.
Outlook
Next week, market participants will monitor the SVCP extraordinary general assembly required to ratify the CMA-approved capital reduction from SAR 150 million to SAR 45.43 million. Traders will also watch for further disclosures from United Cooperative Assurance 8190 on the timing of its financial reorganization filing, and from National Gypsum Co. on the interim financial statements for the six months ended June 30, 2026. In the primary market, subscription and allocation notices from the Capital Market Authority and Saudi Exchange remain on the calendar for issuers with prospectuses previously approved. First-time trading in Arabian Plastic Industrial Co. shares on an ex-bonus basis is expected following Edaa's implementation of the 1-for-3 bonus issue corporate action.
