Red Sea International Co (4230)

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News

17 March 01:28 AM Red Sea International plans 58% capital raise through rights issue

Riyadh – Mubasher: Red Sea International Company intends to increase its capital by 58% through a rights issue, subject to the approval of the extraordinary general meeting (EGM) and other relevant approvals, according to a bourse filing. The …

Corporate Actions

18 January 06:09 PM Red Sea International’s unit secures SAR 200m funding facilities

Riyadh - Mubasher: The Fundamental Installation for Electric Work Company, a subsidiary of Red Sea International Company, has inked a SAR 200 million multi-purpose funding agreement with the Saudi Investment Bank (SAIB). The 307-day facilities …

Banking and Finance

5 January 05:32 PM Red Sea International’s unit secures SAR 220m construction contract

Riyadh - Mubasher: The Fundamental Installation for Electric Work Company, a subsidiary of Red Sea International Company, has signed a SAR 220 million contract with Al Arab Hospital Company Limited. The contract aims to establish a 19-storey …

Companies Investments

23 December 2025 07:50 PM Red Sea International signs SAR 203m contract for NEOM project

Riyadh - Mubasher: Red Sea International Company has inked a SAR 202.80 million contract with the Saudi Arabia branch of Webuild to provide integrated facilities management (IFM) operations and maintenance services for the Trojena Dam project …

Companies Investments

15 December 2025 05:27 PM Red Sea International’s subsidiary extends multi-purpose funding with Saudi listed lenders

Riyadh - Mubasher: The Fundamental Installation for Electric Work Company, a subsidiary of Red Sea International Company, has secured extensions to its multi-purpose funding facilities with Alinma Bank and Riyad Bank. The two facilities aim to …

Companies Investments

13 October 2025 11:17 AM Red Sea International’s unit secures SAR 375m financing from FAB

Riyadh - Mubasher: The Fundamental Installation for Electric Work Company, a subsidiary of Red Sea International Company, has secured financial facilities from First Abu Dhabi Bank (FAB) with a standby limit of SAR 375 million. The one-year …

Banking and Finance

22 May 2025 07:03 PM Red Sea International sees 62% lower net losses in Q1-25; accumulated losses unveiled

Riyadh - Mubasher: Red Sea International Company logged a 62.23% decrease in net losses to SAR 4.52 million in the first quarter (Q1) of 2025, compared with SAR 11.98 million in Q1-24. Meanwhile, the revenues grew by 6.28% year-on-year (YoY) to …

Financial Results

18 December 2024 11:18 AM 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 …

Banking and Finance

18 September 2024 09:51 AM Red Sea International pens SAR 1.5bn agreement with Modern

Riyadh – Mubasher: The Fundamental Installation for Electric Work Company Limited (First Fix) inked a SAR 1.52 billion deal with Modern Building Leaders Company, according to a bourse filing. First Fix, a subsidiary of Red Sea International …

Companies Investments

20 August 2024 10:01 AM Red Sea International’s First Fix rolls out SAR 167m deal

Riyadh – Mubasher: The Fundamental Installation for Electric Work Company Limited (First Fix), a subsidiary of Red Sea International Company, signed a SAR 167 million agreement with Modern Building Leaders Company. First Fix will handle the …

Companies Investments

19 August 2024 09:28 AM Red Sea International signs SAR 658m deal for NEOM project

Riyadh – Mubasher: Red Sea International Company inked a contract with Webuild S.p.A. to build a staff camp serving the Trojena Dam project at NEOM, according to a bourse disclosure. The two entities penned the agreement at a value of SAR 658 …

Companies Investments

7 April 2024 01:04 PM Red Sea International submits capital raise request to CMA

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 …

Corporate Actions

4 March 2024 10:31 AM Red Sea International secures SAR 196m facility from SAB

Riyadh – Mubasher: The Fundamental Installation for Electric Work Company (First Fix), a subsidiary of Red Sea International Company increased its loan from Saudi Awwal Bank (SAB) to SAR 196.10 million, according to a bourse filing. The unit …

Companies Investments

4 October 2023 03:59 PM Red Sea International acquires majority stake in First Fix

Riyadh – Mubasher: Red Sea International Company recently completed the acquisition of 51% shareholding in Fundamental Installation for Electric Work Company (First Fix) for a total of SAR 544.17 million. The acquisition, which was first announced …

Companies Investments

18 December 2022 03:08 PM Red Sea International unveils SAR 192m deal with Saudi RCU

Riyadh – Mubasher: Red Sea International Company inked a SAR 192.01 million contract with the Royal Commission for Al Ula (RCU) on 14 December 2022 to develop a turnkey housing complex in Al Ula. Under the 12-month agreement, the Tadawul-listed …

Companies Investments

21 September 2022 08:58 AM Red Sea International’s accumulated losses drop to 20% of capital

Riyadh – Mubasher: Red Sea International Company’s accumulated losses have decreased to 20% of the company’s capital, according to a stock exchange statement on Wednesday. The company has offset the total accumulated losses as of 31 March 2022 …

Management Decisions

23 August 2022 11:54 AM Red Sea International secures SAR 35m loan from SABB

Riyadh – Mubasher: Red Sea International Company has signed a facility agreement worth SAR 35 million with Saudi British Bank (SABB). The company obtained the loan on 18 August 2022 to finance its projects, according to a bourse filing. Meanwhile, …

Banking and Finance

15 August 2022 09:13 AM Red Sea International’s accumulated losses down to 0% of capital

Riyadh – Mubasher: Red Sea International Company said its accumulated losses have dropped to 0% of the company’s capital, according to a stock exchange statement on Monday. The company's accumulated losses stood at SAR 297.65 million as of 31 …

Management Decisions

28 July 2022 06:05 PM Red Sea International’s shareholders approve nearly 50% capital cut

Riyadh – Mubasher: The shareholders of Red Sea International Company have agreed to reduce the capital by SAR 297.65 million (49.61%). The listed firm will decrease its capital by cancelling 29.76 million ordinary shares, equivalent to 1 share for …

Corporate Actions

19 June 2022 07:19 PM CMA approves Red Sea International, Al Jouf Cement’s capital cut

Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the capital reduction requests of Red Sea International Company and Al Jouf Cement Company to offset accumulated losses. Red Sea International will reduce its capital from SAR 600 …

Management Decisions

22 May 2022 05:28 PM Red Sea International’s losses shrink 42% in Q1-22 initial results

Riyadh – Mubasher: Red Sea International Company has incurred net losses after Zakat and tax worth SAR 19.10 million in the first quarter (Q1) of 2022, lower by 42.12% than SAR 33 million in Q1-21. The company’s revenues increased by 8.11% to SAR …

Financial Results

27 April 2022 00:59 PM Red Sea International wins $14m contract to build complexes in UAE

Riyadh – Mubasher: Red Sea International Company has signed a contract worth $14.24 million (SAR 53.42 million) with Samsung C&T to support the Abu Dhabi National Oil Company's (ADNOC) initiative to decarbonise onshore and offshore production …

Companies Investments

17 April 2022 05:41 PM Red Sea International’s board proposes capital cut, raise

Riyadh - Mubasher: The board of Red Sea International Company has recommended a capital reduction by cancelling 29.06 million shares, equivalent to reducing one share for every 2.06 shares, to offset the accumulated losses. The Saudi listed …

Corporate Actions

30 March 2022 11:32 AM Red Sea International incurs SAR 130m losses in 2021

Riyadh–Mubasher: Red Sea International Company has suffered net losses after Zakat and tax worth SAR 130.4 million in 2021, a % 17.62 year-on-year (YoY) plunge from SAR 158.3 million. Revenues stood at SAR 468.2 million in 2021, down 12.23% from …

Financial Results

1 December 2021 05:32 PM Red Sea International signs SAR 246m contract with Baker Hughes

Riyadh – Mubasher: Red Sea International Company has penned a contract worth SAR 245.77 million with Baker Hughes Company to design, manufacture, supply, and manage remote mobile modular buildings. The agreement holds a duration of seven years …

Companies Investments