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News

26 February 2024 02:54 PM Enma Alrawabi secures SAR 170m loan from ANB

Riyadh – Mubasher: Enma Alrawabi Company obtained Sharia-compliant banking facilities from Arab National Bank (ANB) at an amount of SAR 170 million on 25 February 2024. The loan will be used for purchasing the buildings erected on the Hittin land …

Companies Investments

26 February 2024 01:40 PM Ma’aden’s net profits plummet 83% YoY in 2023

Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) logged an 83.07% year-on-year (YoY) drop in net profit to SAR 1.57 billion in 2023 from SAR 9.31 billion. Revenues plunged 27.32% YoY to SAR 29.27 billion last year from SAR 40.27 billion …

Financial Results

26 February 2024 01:12 PM Alinma Bank to issue USD-denominated capital certificates

Riyadh – Mubasher: Alinma Bank is planning to issue USD-denominated Additional Tier 1 Capital Certificates to improve Tier 1 capital and serve general banking purposes. The issuance is expected to be conducted through a special purpose vehicle to …

Bonds

26 February 2024 11:58 AM Alhokair Group’s CEO resigns; Al Obailan appointed

Riyadh – Mubasher: Sami Abdulmohsen Al Hokair resigned from his position as the CEO of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group). Al Hokair resigned from his position on 25 February 2024, yet the resignation will be …

Management Decisions

25 February 2024 05:15 PM Amlak International’s net profit drops 67% YoY in 2023

Riyadh – Mubasher: Amlak International Finance Company recorded a 67.12% year-on-year (YoY) decline in net profit to SAR 31.80 million in 2023 from SAR 96.72 million the year before. The earnings per share (EPS) reached SAR 0.35 last year, down …

Financial Results

25 February 2024 03:44 PM Saudi Lime inks acquisition deal with Astra Industrial, Tharawat Mining

Riyadh - Mubasher: Saudi Lime Industries Company penned a conditional binding with Astra Industrial Group and Tharawat Mining Company to fully acquire Astra Mining Limited Company. The parties agreed to complete the transaction within three months …

Companies Investments

25 February 2024 01:26 PM SNB to pay SAR 5.4bn cash dividends for H2-23

Riyadh – Mubasher: The board members of Saudi National Bank (SNB) recommended cash dividends after Zakat valued at SAR 5.40 billion for the second half (H2) of 2023. SNB will grant a dividend of SAR 0.90 per share for 6 billion eligible …

Board of Directors

25 February 2024 00:44 PM Saudi Steel Pipe logs SAR 217m profits in 2023

Riyadh – Mubasher: Saudi Steel Pipe Company witnessed 301.85% higher net profits at SAR 217 million in 2023, versus SAR 54 million in the January-December 2022 period. Revenues hiked by 78.47% to SAR 1.33 billion last year from SAR 748 million in …

Financial Results

25 February 2024 11:08 AM Al Rajhi Bank’s board eyes SAR 4.6bn dividends for H2-23

Riyadh – Mubasher: Al Rajhi Bank announced the board’s proposal to pay SAR 4.60 billion as cash dividends after Zakat for the second half (H2) of 2023, according to a bourse filing. The lender will disburse a dividend of SAR 1.15 per share, …

Banking and Finance

22 February 2024 05:56 PM Saudi Tadawul Group gears up to take SCMF abroad

Riyadh – Mubasher: Saudi Tadawul Group Holding is set to organize the first international Capital Market Forum on 9 May 2024, announced Khalid Al Hussan, the group's CEO. The first international Saudi Capital Market Forum will be organized in Hong …

Event

22 February 2024 00:30 PM Waja rolls out SAR 98m agreement

Riyadh - Mubasher: Waja Company inked a SAR 97.91 million contract on 21 February 2024 for 10 months, according to a bourse disclosure. The deal covers the implementation of rehabilitation, engineering systems, and information technology systems …

Companies Investments

21 February 2024 08:36 PM SCMF 2024 marks launch of Single Stock Options contracts on SNB

Riyadh – Mubasher: The third edition of the Saudi Capital Market Forum (SCMF) has witnessed the successful rollout of Single Stock Options (SSOs) contracts on the Saudi National Bank (SNB). The debut of SSOs on the SNB is expected to empower both …

Event

21 February 2024 06:54 PM Saudi Capital Market Forum committed to fostering market diversification – Al Athel

Riyadh – Mubasher: The Saudi Capital Market Forum remains committed to fostering market diversification and uniting unique perspectives, an objective that drives the global capital market agenda forward, the Group Chief Sales and Marketing Officer …

Macroeconomics

21 February 2024 05:41 PM Cenomi Retail names Acting CEO

Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company (Cenomi Retail) announced appointing Salim Fakhouri as Acting CEO starting 1 March 2024. Fakhouri will succeed Gunther Helm who resigned for personal reasons, according to a bourse filing. …

Corporate Actions

21 February 2024 11:53 AM SPIMACO confirms Jerome Cabannes as CEO

Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) has appointed Jerome Cabannes as CEO starting 20 February. Cabannes has been serving as Acting CEO since October 2023, previously holding the position …

Management Decisions

21 February 2024 11:04 AM SNB completes offering $850m USD-denominated Sukuk

Riyadh – Mubasher: Saudi National Bank (SNB) has concluded its offering of 4,250 USD-denominated senior unsecured Sukuk at a value of $850 million. The sukuk was offered at a par value of $200,000 with an annual return of around 5.13% over a …

Sukuk and Islamic Finance

20 February 2024 03:12 PM Balady Poultry rolls out agreement with China-based Famsun

Riyadh – Mubasher: Balady Poultry Company has signed a contract with Famsun Company Limited to establish a feed production plant at a value of $7 million, according to a bourse filing. Balady Poultry inked the deal with the Chinese firm on 19 …

Companies Investments

19 February 2024 11:20 AM SNB plans to offer USD-denominated Sukuk to local, int’l investors

Riyadh – Mubasher: Saudi National Bank (SNB) unveiled a plan to issue USD-denominated senior unsecured Sukuk under its updated international Sukuk programme, which was launched in December 2023. The planned sukuk are set to be issued through a …

Sukuk and Islamic Finance

19 February 2024 10:49 AM GFH hires SNB Capital to manage cross-listing on Tadawul

Mubasher: GFH Financial Group signed a financial advisory service agreement with SNB Capital, a subsidiary of the Saudi National Bank (SNB), to manage the GFH’s application for cross-listing on the Saudi Exchange (Tadawul). The cross-listing will …

Corporate Actions

18 February 2024 06:42 PM Keir International renews nearly SAR 68m banking facilities agreement with SNB

Riyadh – Mubasher: Keir International Company has renewed a SAR 67.79 million Sharia-compliant banking facilities agreement with Saudi National Bank (SNB). The 12-month agreement will be used for project financing and issuance of bank guarantees …

Companies Investments

18 February 2024 02:01 PM SAIB’s board proposes SAR 450m dividends for H2-2023, 25% capital hike

Riyadh – Mubasher: The Saudi Investment Bank (SAIB) announced that its board of directors recommended the distribution of interim cash dividends at a value of SAR 450 million for the second half (H2) of 2023. The proposed dividends amount to SAR …

Cash Dividends

18 February 2024 00:28 PM Cenomi Centers opens U Walk Jeddah hybrid mall

Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) announced the inauguration of U Walk Jeddah hybrid mall in the Al Zahar district on 15 February 2024. The mall includes indoor and outdoor retail areas including 136 stores across …

Companies Investments

15 February 2024 05:48 PM ACWA Power secures $2.3bn financing for 3 solar power projects

Mubasher: ACWA Power Company secured a loan worth $2.30 billion (SAR 8.60 billion) for three of its solar power projects on 14 February. The funding will be provided over 27.75 years by a consortium of local, regional, and international banks, …

Companies Investments

15 February 2024 05:20 PM Modern Mills announces price range, book-building period for IPO

Riyadh – Mubasher: Modern Mills Company (MMC) has unveiled that the price range for its initial public offering (IPO) on the Saudi Exchange (Tadawul) is set between SAR 44 and SAR 48 per share. The Saudi-based milling and nutrition company also …

Initial Public Offerings

15 February 2024 04:58 PM Amiantit settles debt to SNB, Alinma Bank

Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed an agreement with Saudi National Bank (SNB) to settle a SAR 313 million debt. Under the agreement, Amiantit will pay only 50% of the debt, or SAR 156.5 million, by the cash inflows from …

Company News