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News

2 January 08:11 PM Riyad Bank to offer SAR-denominated additional tier 1 capital sukuk

Riyadh – Mubasher: Riyad Bank plans to issue SAR-denominated additional tier 1 capital sukuk to strengthen its capital base, according to a bourse filing. The issuance will be offered by way of private placement in Saudi Arabia pursuant to the …

Banking and Finance

31 December 2024 09:48 AM GFH Partners Limited takes over GCC-focused Manrre

Mubasher: GFH Partners Limited, a DIFC-based global asset management subsidiary of GFH Financial Group, has acquired Manrre REIT, with a portfolio valued at nearly AED 500 million. Manrre is a premier Dubai-based fund specialising in …

Companies Investments

30 December 2024 09:25 PM Naqi Water pens over SAR 12m project to expand poultry sector

Riyadh — Mubasher: Naqi Water Company has signed an agreement with Belad Al Sham Contracting Company for a project worth SAR 12.31 million to build new poultry houses, which comes within an expansion plan. The project aims to boost the poultry …

Companies Investments

30 December 2024 05:14 PM Alsaif Gallery unveils SAR 97m sale deal to support growth strategy

Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) sold a commercial building in Riyadh City at a total amount of SAR 97 million, according to a bourse filing. Located in Al Arid District, the building has an …

Companies Investments

29 December 2024 07:46 PM Saudi Printing submits capital hike to CMA for debt owed to Alinma Bank

Riyadh – Mubasher: Saudi Printing and Packaging Company has submitted an application file to the Capital Market Authority (CMA) for approval to increase its capital through the conversion of outstanding debts owed to Alinma Bank, according to a …

Company News

24 December 2024 05:06 PM First Mills to boost production capacity via SAR 123m new flour unit

Riyadh – Mubasher: The board of First Milling Company (First Mills) approved, on 23 December, the construction of a new flour milling unit (Mill C) at its Al Qassim Plant for nearly SAR 123 million. This strategic expansion will increase the …

Companies Investments

23 December 2024 03:49 PM Riyadh Cables’ strong backlog in 9M-24 provides revenue visibility for near term – Aljazira Capital

Riyadh – Mubasher: The order backlog of Riyadh Cables Group Company reached SAR 4.90 billion at the end of the first nine months (9M) of 2024, providing strong revenue visibility for the near term, according to a report by Aljazira Capital …

Financial Results

19 December 2024 08:33 PM Bawan rolls out SAR 832m supply deal with Aramco

Riyadh – Mubasher: Petronash Arabia Company Limited, a subsidiary of Petronash Holding Company, has received a purchase order for an existing contract with  Saudi Arabian Oil Company (Aramco) to supply special gas well products. Bawan …

Companies Investments

18 December 2024 00:18 PM Red Sea International obtains SAR 392m loan from Riyadh Bank

Riyadh – Mubasher: Red Sea International Company has signed an Islamic financing agreement with Riyadh Bank at an amount of SAR 392.20 million. The company will use the financing to issue bank guarantees for the project signed with Webuild to …

Companies Investments

12 December 2024 05:16 PM Ma’aden’s shareholders greenlight capital hike to SAR 38bn

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudi Arabian Mining Company (Ma’aden) approved increasing the share capital to SAR 38.02 billion from SAR 36.91 billion. Ma’aden’s shareholders greenlighted the 3.01% capital raise on …

Corporate Actions

1 December 2024 04:20 PM SAB, HSBC Global Services pen SAR 190.5m deal

Riyadh – Mubasher: Saudi Awwal Bank (SAB) inked a contract with HSBC Global Services (UK) Limited to replace the current global and receivable finance system with a new trade system. The two entities penned the agreement, on 28 November 2024, at a …

Banking and Finance

28 November 2024 10:04 AM GFH’s OUTLIVE to boost transformative developments across MENA

Mubasher: GFH Financial Group has launched OUTLIVE in Cityscape, which will operate across the MENA region and Europe. The innovative real estate developer is set to create mixed-use projects with a focus on health and well-being, according to a …

Global Economy

26 November 2024 10:57 AM solutions’ unit obtains SAR 500m loan from Riyad Bank

Riyadh – Mubasher: Contact Center Company (CCC), a subsidiary of Arabian Internet and Communications Services Company (solutions), obtained SAR 500 million from Riyad Bank. The short-term financing is valid for one year from the signing date of 25 …

Companies Investments

25 November 2024 03:31 PM Marafiq to reschedule SAR 5.9bn loan from 3 lenders

Riyadh – Mubasher: The Power and Water Utility Company for Jubail and Yanbu (Marafiq) signed bilateral agreements to reschedule its existing Islamic loans at a combined value of SAR 5.90 billion. The deal includes extending the previously agreed …

Companies Investments

25 November 2024 03:16 PM GFH Partners acquires $300m portfolio of US student housing asset

Mubasher: GFH Partners Limited, a subsidiary of GFH Financial Group, has secured A-Class purpose-built student housing assets worth $300 million in the US, according to a press release. The assets were added to the company’s US student housing …

Mergers and Acquisitions

20 November 2024 02:31 PM Tanmiah pens SAR 650m facility deal with SNB

Riyadh – Mubasher: Agricultural Development Company Limited (ADC), a subsidiary of Tanmiah Food Company, secured new long-term and revolving Shariah-compliant facilities worth SAR 650 million from the Saudi National Bank (SNB). The company will …

Companies Investments

19 November 2024 00:41 PM EFG Hermes unveils $300m Saudi Education Fund, deal with GFH

Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, has launched a $300 million Saudi Education Fund (SEF) to create an institutional world-class K-12 operator in Saudi Arabia. SEF aims to capitalise on the growing student population in …

Companies Investments

13 November 2024 04:39 PM GFH’s consolidated profits jump 18% in 9M-24

Mubasher: The net profit attributable to shareholders of GFH Financial Group hiked by 11.44% to $87.95 million in the first nine months (9M) of 2024 from $78.92 million in 9M-23. Consolidated net profits amounted to $95.56 million in 9M-24, …

Financial Results

13 November 2024 01:33 PM Arabian Drilling, Aramco pen SAR 290m deal

Riyadh – Mubasher: Arabian Drilling has secured a contract extension for one of its Saudi Arabian Oil Company (Aramco) land rigs at a value of SAR 290 million, according to a bourse disclosure. The two signed the long-term agreement on 13 November …

Companies Investments

11 November 2024 04:37 PM SPIMACO’s profits leap 279% in 9M-24

Riyadh – Mubasher: The net profits of Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) enlarged by 278.77%  yearly to SAR 67.80 million in the first nine months (9M) of 2024 from SAR 17.90 million. The Saudi group …

Financial Results

11 November 2024 01:43 PM Cenomi Retail suffers lower losses in 9M-24, turns profitable in Q3

Riyadh – Mubasher: Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail) incurred net losses of SAR 48.30 million in the first nine months (9M) of 2024, an annual plunge of 45.79% from SAR 89.10 million. The revenues stood at SAR 3.71 billion in …

Financial Results

11 November 2024 09:35 AM SHL Finance’s profits jump in 9M-24; total assets cross SAR 4.5bn

Riyadh – Mubasher: SHL Finance Company achieved a 60.72% leap in net profit to SAR 15.76 million during the first nine months (9M) of 2024, compared with SAR 9.81 million in 9M-23. Earnings per share (EPS) amounted to SAR 0.16 in 9M-24, up …

Financial Results

10 November 2024 02:14 PM Cenomi Centers posts 15% lower profits in 9M-24

Riyadh - Mubasher: Arabian Centres Company (Cenomi Centers) has delivered a strong performance in the first nine months (9M) of 2024, recording net profits valued at SAR 867.60 million. The registered net profits plummeted by 14.83% from SAR 1.01 …

Financial Results

7 November 2024 02:00 PM Sinad Holding reports nearly SAR 12m losses in 9M-24

Riyadh – Mubasher: The net losses of Sinad Holding Company plummeted by 86.10% to SAR 11.80 million in the first nine months (9M) of 2024, compared to SAR 84.90 million in 9M-23. The revenues hit SAR 1.28 billion in January-September 2024, higher …

Companies Investments

7 November 2024 11:04 AM Ma’aden’s net profits leap 333.5% in 9M-24

Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) recorded net profits amounting to SAR 2.97 billion in the first nine months (9M) of 2024, higher by 333.40% than SAR 686.92 million in 9M-23. Revenues climbed by 6.30% year-on-year (YoY) to …

Financial Results