Management Decisions

Abu Dhabi – Mubasher: RAK Ceramics elected Saqr bin Saud bin Saqr Al Qasimi as the Chairman of the board. Fawaz Sulaiman Al Rajhi as the Vice Chairman was announced as the Vice Chairman, according to a bourse disclosure. The board members of RAK …

Riyadh – Mubasher: The shareholders of Alinma Bank greenlighted the board’s proposal to increase the capital by SAR 5 billion from the retained earnings by way of granting one share for every four shares. The lender’s extraordinary general meeting …

Abu Dhabi - Mubasher: Sawaeed Holding appointed Abdulla Rashed Mohammad Rashed Al Rashdi as the Chairman of the board. The board members also named Obaid Helal Obaid Mohammed Al Kaabi as the Vice Chairman, according to a bourse disclosure. In the …

Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) appointed Sami Abdul Mohsen Abdulaziz Al Hokair as the Chairman of the board for four years. Faisal Mohammed Ibrahim Al Malik was named as the board’s Vice …

Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved for Zahraa Maadi Investment and Development to raise its authorisied capital by EGP 4 billion from EGP 1 billion. The listed company aims to increase the authorised capital to EGP …

Cairo – Mubasher: The ordinary general meeting (OGM) of Elsewedy Electric Company agreed to disburse EGP 0.50 per share as a cash dividend for 2023. The company will pay out a total amount of EGP 1.06 billion to the eligible equityholders of …

Riyadh – Mubasher: Bandar bin Mohammed Al Baiz resigned from his position as the Managing Director and the CEO of Nayifat Finance Company, effective on 25 April 2024. Al Baiz submitted his resignation, on 21 April, due to personal circumstances, …

Riyadh – Mubasher: Herfy Food Services Company accepted the resignation of Sam Mohamed Bader from his position as its CEO due to personal reasons. Bader submitted his resignation on 19 April and became effective on 21 April 2024, according to a …

Riyadh – Mubasher: The board of Saudi AZM for Communications and Information Technology Company approved transferring its shares from the Parallel Market (Nomu) to the main market All Share Index (TASI). The board members granter their approvals …

Cairo – Mubasher: Raya Customer Experience (RAYA CX) has appointed Alaa El-Khishen as its new CEO, according to a recent press statement. El Khishen has more than 30 years of experience in the telecommunications, outsourcing, and technology …

Riyadh – Mubasher: The Capital Market Authority (CMA) has approved Al Etihad Cooperative Insurance Company's request to increase its capital from SAR 450 million to SAR 500 million through 5 million bonus shares. The company will carry out the …

Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) has appointed Wazen Al Solami to be the CEO of Yansab starting from 1 May 2024. The decision was made during the board meeting on 18 April this year, according to a bourse filing. Al …

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company submitted an application file to the Capital Market Authority (CMA) on 17 April 2024 to increase its capital to SAR 380 million. The insurance firm plans to raise its capital by offering …

Riyadh – Mubasher: The shareholders of United Electronics Company (eXtra) agreed for the subsidiary United International Holding Company to offer shares on the Saudi Exchange (Tadawul), according to a bourse disclosure. The approval, which was …

Riyadh – Mubasher: The shareholders of Edarat Communication and Information Technology Company gave a nod, during their extraordinary general meeting (EGM) on 16 April 2024, for doubling the capital through bonus shares.   This decision builds on …

Riyadh – Mubasher: Saudi Cable Company named Fawaz Mubarak Al Muqbel as its new CEO as of 17 April 2024, according to a bourse disclosure. Al Muqbel succeeded Nael Samir Fayez, who was appointed as the company’s CEO in February 2023 and currently …

Cairo – Mubasher: MM Group for Industry and International Trade received the approval of the Financial Regulatory Authority (FRA) to proceed with the capital hike procedures.    The group plans to raise its authorised capital to EGP 936.58 million …

Riyadh – Mubasher: Awad Farouk Al Desouki resigned from his position as the CEO of Saudi Fisheries Company on 14 April 2024. Al Desouki’s resignation became effective on 15 April, according to a bourse statement. The company’s board members …

Riyadh – Mubasher: The National Agricultural Development Company (Nadec) has appointed Abdulaziz Saleh Alrebdi as the new Chairman of the board. Nadec also named Ahmed Saud Sahini as the new Vice Chairman, according to a bourse filing. Alrebdi and …

Riyadh – Mubasher: Saudi Cable Company has appointed Sabri Alghamdi as the new Chairman of the company upon the board’s resolution on 7 April 2024, which built on the ordinary general meeting’s (OGM) approval on 3 April. The company also announced …

Riyadh – Mubasher: Red Sea International Company submitted an application file to the Capital Market Authority (CMA) to increase its capital on 4 April 2024, according to a bourse disclosure. The capital raise will be implemented by debt …

Riyadh – Mubasher: Obeikan Glass Company appointed Abdullah Abdulrahman Al Obeikan as its Chairman for three years. The company also announced Abdullah Muhammad Al Humaidhi as Deputy Chairman, according to a bourse filing. The board members …

Riyadh – Mubasher: The Capital Market Authority (CMA)greenlighted the request of ACWA Power Company to increase its capital from SAR 7.31 billion to SAR 7.32 billion. The Saudi firm will issue one bonus share for every 500 existing shares, …