Corporate Actions

Pakistan seeks financial aid from Saudi Arabia
20 September 04:05 PM Pakistan seeks financial aid from Saudi Arabia
Riyadh – Mubasher: Pakistan’s Prime Minister Imran Khan on Wednesday met with Saudi King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman in a bid to secure a financial aid for his country, AFP reported. The two-day visit marked Khan’s …
Egypt’s Archiform Consultants to expand in Europe
20 September 02:59 PM Egypt’s Archiform Consultants to expand in Europe
Cairo – Mubasher: Archiform Consultants on Thursday unveiled plans to expand its business outside of its home country Egypt. The architecture and design firm will inaugurate a new office in London and a joint venture (JV) with Stibich Hospitality …
Burgan Bank’s Core Equity Tier 1 Ratio
19 September 05:45 PM Burgan Bank launches rights issue to raise up to KWD 62.55m
Mubasher: Burgan Bank has commenced its capital rights offering process on Wednesday, 19 September, to increase up to KWD 62.55 million of additional capital, according to an official statement. The subscription period for raising Burgan Bank’s …
Al khaliji board decided not to pursue the process any further
19 September 05:24 PM Al khaliji suspends disposal of Al Khaliji France
Mubasher: Al Khalij Commercial Bank (Al khaliji) on Wednesday announced that it has entered into talks with various bidders for the disposal of its subsidiary, Al Khaliji France S.A. The bank’s board saw that the various offers received were not …
B Investments Holdings’ board agreed to acquire a majority stake of 40% in Gourmet Group
19 September 01:30 PM B Investments to acquire 40% of top gourmet food business
Cairo – Mubasher: B Investments Holdings’ board of director has agreed to acquire a majority stake of 40% in Gourmet Group at a value of EGP 65 million. The board also approved an EGP 60 million capital hike, upon which the company will hold 53% …
Alinma bought around 943,200 shares in Ajwa at a total value of EGP 2.7 million
18 September 01:31 PM Saudi Alinma raise stake in Egypt’s Ajwa to 5.49%
Cairo – Mubasher: Alinma Investments has raised its stake in Ajwa Group for Food Industries - Egypt to 5.49% from 4.55%. The Saudi investment firm bought around 943,200 shares in Ajwa at a total value of EGP 2.7 million, or EGP 2.87 per share, …
SABIC inks governance deal with Switzerland’s Clariant
18 September 09:33 AM SABIC inks governance deal with Switzerland’s Clariant
Riyadh – Mubasher: The Saudi Basic Industries Corporation (SABIC) on Tuesday announced signing a governance contract with Swiss firm Clariant AG. The deal, signed on Monday, specifies SABIC’s role in Clariant as a main shareholder during the …
No final decisions have been made regarding the transaction
18 September 09:32 AM Uber in talks to acquire Dubai-based rival Careem
Dubai – Mubasher: Uber Technologies Inc. is in fresh talks to buy its Dubai-based rival Careem Networks FZ for about $2 billion to $2.5 billion. This came within the framework of the US-based ride-hailing company’s plan to expand in the Middle …
Bloomberg Asharq platform will be located in the Dubai International Financial Center (DIFC).
17 September 01:00 PM Saudi Research, Bloomberg launch Arabic news service branding
Riyadh – Mubasher: The Saudi Research and Marketing Group (SRMG) has announced amending the name of its joint venture (JV) with Bloomberg LP to Bloomberg Asharq from Bloomberg Al Arabiya. Bloomberg Asharq platform will be located in the Dubai …
The company will raise the issued share capital within the limit of the authorised capital to KWD 136.142 million
17 September 11:05 AM NRE’s board nods to allocate 25% capital hike to Agility Investment
Mubasher: National Real Estate (NRE) on Monday announced that its shareholders had approved increasing the company’s share capital by 25.06% during a meeting held in the previous day.   The company will raise the issued share capital within the …
The investment unit will begin the roadshow and meetings to issue “the New Aldar Investments Sukuk”
17 September 10:40 AM Aldar’s unit to issue USD-denominated sukuk
Abu Dhabi – Mubasher: Aldar Investment Properties LLC, a 100% owned subsidiary of Aldar Properties, is planning to issue a five- to ten-year fixed rate US dollar denominated sukuk. The investment unit will begin the roadshow and meetings to issue …
FIPCO will use the one-year loan secured by a promissory note to finance its working capital
17 September 10:02 AM FIPCO gets SAR 30m Islamic facility from Bank Albilad
Riyadh – Mubasher: Saudi Arabia-based Filing and Packing Materials Manufacturing Company (FIPCO) has signed a contract with Bank Albilad to secure a SAR 30 million sharia-compliant loan on Sunday. FIPCO will use the one-year loan secured by a …
The Emirati lender is currently operating in Jeddah, Riyadh, and Khobar.
16 September 03:38 PM Emirates NBD boosts footprint in Saudi Arabia
Dubai – Mubasher: Emirates NBD has expanded its presence in Saudi Arabia by inaugurating its first branch in Khobar city. The bank will offer digital banking solutions, strong franchise, retail, private, business, wholesale, cooperate finance …
Vice chairman of ABE Tamer Gomaa
16 September 02:35 PM Egypt’s ABE to partner with Visa to issue 3m credit cards
Cairo – Mubasher: The Agricultural Bank of Egypt (ABE) is looking to issue cards for three million clients in collaboration with the US financial services company Visa Inc, the bank's vice chairman said on Sunday. The Egyptian lender is planning …
KACE is Saudi Arabia’s new global gateway to high-growth markets in the GCC region and East Africa
16 September 12:29 PM KAEC signs SAR 32m contract for Industrial Valley’s 4th phase
Riyadh – Mubasher: King Abdullah Economic City’s (KAEC) Industrial Valley has signed a SAR 32 million contract with a local construction firm to develop the infrastructure of the Valley’s fourth phase. KACE, Saudi Arabia’s new global gateway to …
Alaa and Gamal Mubarak have denied any wrongdoing
16 September 12:19 PM Mubarak’s sons arrested over EGX manipulation
Cairo – Mubasher: The Cairo Criminal Court has ordered the arrest of ousted Egyptian President Hosni Mubarak’s two sons for violating the rules of the Egyptian Exchange (EGX) and the Central Bank of Egypt (CBE) to make unlawful profits through …
The VLCC Navarin is transferring one million barrels of each Saudi Arab Medium crude and Iraqi Basra Light crude
13 September 04:13 PM Aramco-Petronas JV’s 1st cargo to reach Malaysia end-September
Riyadh – Mubasher: The first cargo of crude oil for joint venture (JV) refinery project between state-run Saudi Aramco and Malaysian government-owned energy firm Petroliam Nasional Berhad (Petronas) will reach Malaysia by the end of September, …
The US-Saudi Arabian Business Council’s CEO Edward Burton
13 September 03:02 PM Saudi Arabia, US to launch SME forum in October
Riyadh – Mubasher: Saudi Arabia and the US are to launch the US-Saudi small and medium-sized enterprises (SME) Forum in a bid to boost bilateral trade between the two nations, sharing of know-how, and co-innovating solutions. The forum, that …
The deal covers a range of fields
13 September 02:02 PM Aramco, Schneider Electric ink deal to boost 4th Industrial Revolution solutions
Riyadh – Mubasher: The Saudi Arabian oil Co, known globally as Saudi Aramco, on Thursday announced signing a memorandum of understanding (MoU) with Schneider Electric Saudi Arabia in a bid to boost cooperation in various sectors related to Fourth …
Raising the capital will be through issuing 32.75 million ordinary
13 September 11:55 AM UPAC approves 25% capital hike via ordinary shares
Mubasher: United Projects Company for Aviation Services (UPAC) announced that its board members approved on Wednesday to raise the issued and paid-up capital by 25%. UPAC will increase its capital by KWD 3.275 million to KWD 16.450 million from …
The financial impact of raising the capital will be registered in Q3 financials
12 September 12:44 PM Arzan’s UAE subsidiary raises capital by $6.8m
Mubasher: Arzan Financial Group for Financing and Investment announced that its fully owned subsidiary, the Dubai-based Arzan Capital Holding, has increased its capital by KWD 2.07 million ($6.8 million). The capital hike resulted in a decline in …
The initial public offerings (IPOs) will include floating firms which are currently unlisted on the bourse
12 September 12:24 PM Egypt eyes offering 5 gov’t IPOs on EGX early 2019 - Minister
Cairo – Mubasher: The government is planning to offer a stake in around five state-run companies on the Egyptian Exchange (EGX) in the first quarter of 2019, the finance minister said. The initial public offerings (IPOs) will include floating …
National Oil Technology Company is a subsidiary of NESR
12 September 12:19 PM NESR’s unit, Dhahran Techno team up to open research centre in Saudi Arabia
Riyadh – Mubasher: National Oil Technology Company has signed a contract with Dhahran Techno Valley Company, a 100% unit of King Fahd University of Petroleum, to establish an international scientific research centre in Saudi Arabia. National Oil …
The new investment unit aims to manage greater operational and capital efficiencies
12 September 10:04 AM Abu Dhabi’s Aldar sets up $5.4bn investment unit
Abu Dhabi – Mubasher: Aldar Properties on Wednesday has unveiled it created the region’s largest diversified real estate investment company with over AED 20 billion ($5.4 billion) in assets. The new investment unit, Aldar Investment Properties …
Emaar revealed it has no role regarding the issuance of visas
12 September 09:06 AM Emaar denies offering 10-yr visa to UAE investors
Dubai – Mubasher: Emaar Properties has denied planning to offer 10-year visas to investors in six large ongoing residential projects in Dubai. "Emaar refutes the report by a section of the media that it will provide 10-year visas to investors,” …