Major Shareholder Changes Hit Saudi Stocks on July 19

Tihama Advertising and Public Relations Co. was another firm on the list, reporting a change in its major shareholder structure.

The filings, all dated July 19, did not detail whether the changes resulted from block trades, inheritance, or other transactions. Saudi market rules require companies to disclose any change that brings a shareholder's stake to or above the 5% reporting threshold, or that alters the identity of a major holder.

Traders said the lack of specifics in some filings made it hard to gauge the immediate impact on share prices or trading volumes.

"Without knowing who bought or sold and at what price, the market has little to price in," one Riyadh-based trader said.

TASI closed little changed on the day, suggesting the announcements had no broad market effect.