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News

30 January 2024 00:29 PM MIS renews SAR 137m facility deal with SAIB

Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has extended its Sharia-compliant facility deal with the Saudi Investment Bank (SAIB) at a value of SAR 136.80 million. MIS signed the financing agreement on 29 January 2024 and it is …

Banking and Finance

29 January 2024 02:22 PM Retal unveils development agreement worth SAR 48m

Riyadh – Mubasher: Retal Urban Development Company and its subsidiary Building Construction Company inked a SAR 48 million deal to construct four residential buildings in the Alsadafah district in Khobar. The agreement holds a duration period of …

Real estate

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, …

Management Decisions

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 …

Companies Investments

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 …

Management Decisions

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 …

Banking and Finance

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 …

Companies Investments

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 …

Banking and 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, …

Companies Investments

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