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News

29 January 2024 11:25 AM Horizon Food appoints Al Harbi as new CEO

Riyadh – Mubasher: Sultan Al Harbi was announced as the CEO of Horizon Food Company as the new CEO, effective from 1 February 2024, according to a bourse filing. Al Harbi has specialised practical experience in the field of food for over 30 years, …

Corporate Actions

28 January 2024 04:55 PM Jabal Omar obtains SAR 1.9bn loan from Al Rajhi Bank

Riyadh – Mubasher: Jabal Omar Development Company inked a SAR 1.90 billion facility deal with Al Rajhi Bank on 25 January 2024, according to a recent bourse disclosure. The financing was guaranteed by security over certain real estate assets …

Banking and Finance

28 January 2024 01:42 PM Bank Aljazira eyes 25% capital hike via bonus shares

Riyadh – Mubasher: The board members of Bank Aljazira proposed a 25% capital raise to SAR 10.25 billion from SAR 8.20 billion, according to a bourse statement. By granting one share for every four shares, the number of the shares will stand at SAR …

Banking and Finance

23 January 2024 06:04 PM SPIMACO teams up with Recbio for recombinant HPV-9 vaccine

Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) inked a term sheet with Jiangsu Recbio Technology Company Limited for the licensing, supply, and technology transfer of Recombinant Human …

Global Economy

23 January 2024 05:24 PM Seera’s Almosafer becomes 1st travel partner of Riyadh Air in Saudi Arabia

Riyadh – Mubasher: The new national full service carrier of Saudi Arabia, Riyadh Air, has teamed up with Almosafer, a subsidiary of the listed Seera Group Holding, to fast-track the growth of an internationally competitive tourism sector in the …

Companies Investments

23 January 2024 11:03 AM Alhokair Group rolls out SAR 760m deal in NEOM

Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) penned an agreement valued at nearly SAR 760 million, according to a bourse filing. The listed firm inked the contract with Alpha Facilities Contracting …

Companies Investments

22 January 2024 05:17 PM Alkhorayef Water to set up environmental services firm

Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company will establish a limited liability company based in the capital of Saudi Arabia, Riyadh, upon approval granted on 21 January 2024. The new business will be set up under the name …

Companies Investments

22 January 2024 03:42 PM SABIC to develop $6.4bn project in China; Aramco’s unit related party

Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) unveiled plans to build a world-scale Petrochemical complex in southeastern China at an estimated value of $6.40 billion, according to a bourse filing. Located in the Fujian province, …

Companies Investments

22 January 2024 09:50 AM Al Akaria renews, increases facility deal with SAB

Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) renewed and raised a Sharia-aligned banking facilities agreement worth SAR 200 million with Saudi Awwal Bank (SAB). Al Akaria secured the loan on 21 January 2024 to issue letters of credit …

Companies Investments

21 January 2024 04:05 PM Jamjoom Pharma secures funding to back JV in Algeria

Riyadh – Mubasher: Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) has secured a short-term revolving banking facility from the Bank of NATIXIS Algeria with a total amount of DZD 1.30 billion (SAR 36.20 million). The loan will support the …

Banking and Finance

21 January 2024 02:25 PM Saudi Alsaif Gallery launches 1st branch in Oman

Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) has opened its first showroom in Oman, according to a bourse statement. Located in Muscat, the exhibition spans 1,200 square metres and will reflect on the …

Companies Investments

21 January 2024 11:46 AM Saudi Tadawul Group acquires SAR 107m equity in DME

Riyadh – Mubasher: Saudi Tadawul Group Holding Company has entered into a binding agreement with the shareholders of DME Holdings Limited to acquire a 32.60% stake in Dubai Mercantile Exchange (DME). Subject to pre-closing terms and conditions, …

Companies Investments

18 January 2024 05:36 PM solutions renews, raises funding with SNB

Riyadh – Mubasher: Arabian Internet and Communications Services Company (solutions) has renewed and increased a Sharia-aligned banking facilities agreement with the Saudi National Bank (SNB). solutions obtained the funding on 18 January 2024 to be …

Banking and Finance

18 January 2024 04:08 PM East Pipes Integrated pens over SAR 1bn deal with SWCC

Riyadh – Mubasher: East Pipes Integrated Company for Industry penned a deal with Saline Water Conversion Corporation (SWCC) at an amount exceeding SAR 1 billion inclusive of value-added tax. The listed firm will manufacture and supply steel pipes …

Companies Investments

18 January 2024 02:51 PM Mobily secures SAR 4.8bn financing from SNB

Riyadh – Mubasher: Etihad Etisalat Company (Mobily) inked a Murabaha financing agreement with the Saudi National Bank (SNB) at a total value of SAR 4.80 billion for seven years. The Tadawul-listed firm secured the loan, on 17 January 2024, to …

Companies Investments

18 January 2024 00:54 PM Banque Saudi Fransi commences US dollar-denominated offering

Riyadh – Mubasher: Banque Saudi Fransi began issuing US dollar-denominated certificates for eligible investors in Saudi Arabia and internationally, according to a bourse filing. Under the trust certificate issuance programme, the offering will …

Sukuk and Islamic Finance

17 January 2024 03:30 PM Alujain to sell 35% stake in NATPET for SAR 1.8bn

Riyadh – Mubasher: Alujain Corporation inked a deal to sell 35% shares of its subsidiary National Petrochemical Industrial Company (NATPET) in exchange for SAR 1.87 billion ($500 million). The Tadawul-listed firm will sell a 35% stake, …

Companies Investments

17 January 2024 00:37 PM Keir International secures SAR 130m loan from Al Rajhi Bank

Riyadh – Mubasher: Keir International Company penned a Sharia-compliant banking facilities agreement with Al Rajhi Bank at a total value of SAR 130 million. The firm obtained the loan to finance its project and issue bank guarantees as well as a …

Banking and Finance

15 January 2024 02:46 PM Ladun Investment unveils SAR 348.5m project award

Riyadh – Mubasher: Ladun Investment Company was awarded a project deal worth SAR 348.48 million through its unit Built Industrial Company on 14 January 2024. Presidency of State Security will team with the subsidiary to implement architectural, …

Companies Investments

15 January 2024 02:39 PM Al Hammadi Holding's Sudair Pharma mulls SAR 116m capital raise

Riyadh - Mubasher: The extraordinary general meeting (EGM) of Sudair Pharmaceuticals Company (Sudair Pharma), a 35%-owned affiliate of Al Hammadi Holding Company, approved to increase its capital by SAR 116 million on 8 January 2024.  This capital …

Management Decisions

15 January 2024 00:49 PM Osool and Bakheet Investment obtains SAR 50m loan from Banque Saudi Fransi

Riyadh – Mubasher: Osool and Bakheet Investment Company signed a facilities amendment agreement with Banque Saudi Fransi at an amount of SAR 50 million. The Sharia-compliant financing deal holds a duration period of 180 days until 31 May 2024, …

Banking and Finance

15 January 2024 00:18 PM Sure Global Tech rolls out SAR 60m deal

Riyadh – Mubasher: Sure Global Tech Company awarded a computer operation and maintenance project to the Shura Council at a value of SAR 60.09 million on 14 January 2024. The agreement cover the employment infrastructure of the council as well as …

Companies Investments

15 January 2024 10:09 AM Rawasi Albina, stc team up for electronic project

Riyadh – Mubasher: Rawasi Albina Investment Company penned a purchase order agreement with the Saudi Telecom Company on 14 January 2024, according to a bourse disclosure. The deal, which is valued at SAR 4.60 million, covers the replacement of …

Companies Investments

14 January 2024 00:32 PM Alkhorayef Water rolls out SAR 215m project awards

Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company announced two contract awards with the National Water Company at an aggregated value of SAR 214.79 million. The first deal is valued at SAR 102.19 million and covers the …

Companies Investments

11 January 2024 03:22 PM CMA nods to Takween’s SAR 300m capital raise

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Takween Advanced Industries Company to increase its capital by SAR 300 million rights issue. The new capital will stand at SAR 764.64 million following the capital hike, …

Management Decisions