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19 April 02:02 AM

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18 April 07:53 PM Al Etihad Cooperative obtains regulatory nod for SAR 50m capital hike
Riyadh – Mubasher: The Capital Market Authority (CMA) has approved Al Etihad Cooperative Insurance Company's request to increase its capital from SAR 450 million to SAR 500 million through 5 million bonus shares. The company will carry out the …
Management Decisions
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18 April 06:04 PM Yansab appoints Al Solami as CEO; Bazaid nominated for SABIC role
Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) has appointed Wazen Al Solami to be the CEO of Yansab starting from 1 May 2024. The decision was made during the board meeting on 18 April this year, according to a bourse filing. Al …
Board of Directors
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18 April 05:48 PM Watheeq Capital unveils offering price for Qomel
Riyadh - Mubasher: Watheeq Capital, the financial advisor for the Initial Public Offering (IPO) of Qomel Company on the Parallel Market (Nomu), disclosed its offering price to be SAR 80 per share. Subscription for the offering is scheduled to take …
Trading Activities
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18 April 05:33 PM Ayyan Investment’s loss widens 384% YoY in 2023; accumulated loss records SAR 258m
Riyadh – Mubasher: Ayyan Investment Company’s net loss soared 384.11% year-on-year (YoY) to SAR 216.06 million in 2023 from SAR 44.63 million. Revenues jumped 25.18% YoY to SAR 333.27 million last year from SAR 266.22 million, according to the …
Financial Results
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18 April 05:19 PM Jarir Bookstores’ estimated profit plummets over 11% YoY in Q1-24
Riyadh – Mubasher: The estimated net profit of Jarir Marketing Company (Jarir Bookstores) dropped 11.50% year-on-year (YoY) to SAR 219.30 million in the first quarter (Q1) of 2024 from SAR 247.80 million in the similar quarter of 2023. Revenues …
Financial Results
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18 April 05:02 PM Tadawul unveils SSOs contracts on Ma'aden
Riyadh – Mubasher: The Saudi Exchange (Tadawul) launched the Single Stock Options (SSOs) contracts on the Saudi Arabian Mining Company (Ma'aden). SSOs are set to be available from 21 April 2024, which will be cleared by the Securities Clearing …
Trading Activities
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18 April 04:42 PM E7 Group fuels growth in MEA region with new agreements
Abu Dhabi – Mubasher: E7 Group penned multiple new contracts to provide security solutions and commercial printing services across the MEA region. The agreements align with the group’s strategy to boost global expansion and profitable growth, …
Global Economy
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18 April 03:41 PM Tadawul’s benchmark index inches up 0.29% at Thursday’s close
Riyadh – Mubasher: The main market's All Share Index (TASI) on the Saudi Exchange (Tadawul) edged up by 0.29% on Thursday, closing at 12,502.35 points. Trading activity saw a turnover of SAR 8.18 billion, with 310.94 million shares exchanged. …
Trading Activities
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18 April 03:20 PM Cleopatra Hospitals, Fawaz Al Hokair’s unit partner to support healthcare in Saudi Arabia
Cairo – Mubasher: Cleopatra Hospitals Group (CHG), has entered into a strategic partnership with Mumtada Medical Care Company, the healthcare arm of Saudi Arabia’s Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail), to launch 200-bed rehabilitation …
Global Economy
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18 April 03:08 PM ADNIC acquires 51% shareholding in Allianz Saudi Fransi
Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) has completed the acquisition of a 51% stake in Allianz Saudi Fransi Cooperative Insurance Company, according to a press release. The transaction will enable ADNIC to become one of …
Mergers and Acquisitions
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18 April 02:16 PM TADCO inks MoU with NEOM's food company
Riyadh – Mubasher: Tabuk Agricultural Development Company (TADCO) has signed a non-binding memorandum of understanding (MoU) with Topian, NEOM's food company. The MoU includes cooperation for the planning, development, construction, and operation …
Companies Investments
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18 April 01:20 PM Sure Global Tech signs SAR 94m contract to develop electronic platform
Riyadh – Mubasher: Sure Global Tech Company has signed a three-year contract with a total value of SAR 94.16 million. Under the contract, Sure will build, develop, and operate an electronic platform, according to a bourse filing. The contract is …
Companies Investments
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18 April 01:02 PM DEWA, ACWA Power reach financial close of AED 3.4bn desalination project
Dubai – Mubasher: Dubai Electricity and Water Authority (DEWA) and ACWA Power Company have announced the financial closing of an AED 3.37 billion seawater reverse osmosis (RO) desalination project in Hassyan. With a capacity of 180 million …
Companies Investments
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18 April 12:27 PM areeba, Mastercard anchor payment infrastructure in MENA
Mubasher: areeba, a leader in payment solutions and processing services, announced the successful certification of its in-house-developed switch by Mastercard, according to a press release. The two parties join forces to provide world-class …
Global Economy
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18 April 11:54 AM Saudi Enaya submits capital hike request to CMA
Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company submitted an application file to the Capital Market Authority (CMA) on 17 April 2024 to increase its capital to SAR 380 million. The insurance firm plans to raise its capital by offering …
Corporate Actions
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18 April 11:27 AM Alkhorayef Water wins SAR 1.7bn contract for sewage treatment plants
Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company has been awarded a SAR 1.72 billion contract from National Water Company for long-term operation and maintenance works at Sewage Treatment Plants in Al Ahsa City. Under the 15-year …
Companies Investments
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18 April 10:30 AM Thimar creates new subsidiary to expand business
Riyadh – Mubasher: Thimar Development Holding Company has established a new company called Thimar Towers Development and Real Estate Investment Company The newly created firm, a limited liability company of one person, is headquartered in Riyadh, …
Companies Investments
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18 April 09:47 AM Fortis raises $20m Series A round to boost fintech in MENA
UAE – Mubasher: UAE-based fintech Fortis has closed a Series A funding round valued at $20 million from Opportunity Venture, according to a press release. Fortis, a retail tech and fintech solutions provider tailored for SMEs, will use the …
Global Economy
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17 April 07:32 PM Egypt’s Potcast Productions mulls regional expansion after early financing round
Cairo – Mubasher: The Potcast Productions Company, and Egyptian podcast production firm, has concluded an early financing round in the second season of the Shark Tank program under the guidance of businesswoman Dina Ghabbour, according to a press …
Global Economy
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17 April 07:03 PM Alkhabeer Capital unveils nearly SAR 92.5m annual dividends for fund after H2-23 payout
Riyadh – Mubasher: Alkhabeer Capital revealed that the total dividends distribution to Alkhabeer Growth and Income Traded Fund’s unitholders for the full year 2023 has reached SAR 92.47 million after announcing the July-December 2023 payout. The …
Cash Dividends
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17 April 05:46 PM eXtra’s subsidiary to offer 30% of capital for Tadawul’s subscription
Riyadh – Mubasher: The shareholders of United Electronics Company (eXtra) agreed for the subsidiary United International Holding Company to offer shares on the Saudi Exchange (Tadawul), according to a bourse disclosure. The approval, which was …
General Assembly
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17 April 05:11 PM Edarat Communication’s EGM approves 100% new capital hike
Riyadh – Mubasher: The shareholders of Edarat Communication and Information Technology Company gave a nod, during their extraordinary general meeting (EGM) on 16 April 2024, for doubling the capital through bonus shares.   This decision builds on …
General Assembly
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17 April 04:31 PM Tadawul closes Wednesday’s session mixed
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) retreated by 0.28% on Wednesday and ended the trading session at 12,465.98 points. The turnover amounted to SAR 9.55 billion through the exchange of 367.26 …
Trading Activities
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17 April 04:07 PM National Building renews SAR 85m loan deal with Alinma Bank
Riyadh – Mubasher: National Building and Marketing Company has extended a Sharia-aligned bank facilities agreement with Alinma Bank as signed on 16 April 2024. The revolving loan is valued at SAR 85 million and holds a nine-month tenor, according …
Companies Investments
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17 April 03:14 PM Saudi Penny Software eyes global expansion via funding round
Riyadh – Mubasher: Penny Software has completed its Pre-Series A funding round, securing investment from Iliad Partners, joined by GSI and US-based Knollwood Investments. The transaction was also led by Dallah Investment, Hambro Perks Oryx Fund, …
Global Economy