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The bank’s capital increased by EGP 85.99 million
23 January 06:59 PM Egyptian FRA approves CIB’s capital hike
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) has approved Commercial International Bank’s (CIB) capital increase, according to a bourse statement released on Thursday. The bank’s capital increased by EGP 85.99 million, divided …
The capital will rise to SAR 178.16 million
23 January 11:29 AM Al Sorayai’s shareholders approve SAR 112.6m capital increase
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Sorayai Trading and Industrial Group (Al Sorayai) has approved an increase in the company’s capital through a priority rights issue of 11.3 million ordinary shares.  The capital will …
The new capital will reach AED 377.5 million
22 January 10:39 AM National Investor’s shareholders approve AED 200m capital cut
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of the National Investor Company has approved a capital cut of 34.6% or AED 200 million, which will be refunded to the shareholders. After the decrease, the new capital will reach AED 377.5 …
The new capital will total KWD 1.712 million
21 January 04:51 PM Yiaco Medical’s shareholders approve loss amortisation, capital cut
Mubasher: The shareholders of Yiaco Medical Company approved amortising the company’s accumulated losses amounting to KWD 24.007 million during its extraordinary general meeting (EGM) on Tuesday. The decision, reached by a majority vote, also …
The capital increase will be made through the issuance of 4.2 billion shares
20 January 04:41 PM Kuwait Finance House’s shareholders approve capital raise to KWD 1.12bn
Mubasher: The extraordinary general meeting of Kuwait Finance House (KFH) approved to increase the authorised capital to KWD 1.118 billion. The capital increase will be made through the issuance of 4.2 billion shares at the share’s nominal value, …
Appointing Kesisoglu came as Property Finer's MENA expansion plans
19 January 12:14 PM Property Finder hires Facebook, Google’s tech expert as new president
UAE – Mubasher: Property Finder, a UAE-born start-up which helps buyers and renters to find a home, has appointed the technology leader, Ari Kesisoglu, as the new president. The appointment of Kesisoglu, who previously led various positions in …
The aim is to offset the nearly SAR 60 million accumulated losses
16 January 04:04 PM ACIG board recommends 29.5% capital cut
Riyadh - Mubasher: The board of the Allied Cooperative Insurance Group (ACIG) has recommended reducing the company’s capital by 29.5% from SAR 200 million to SAR 141 million then raising the capital by SAR 150 million. The aim is to offset …
The bank’s issued capital will increase to $390m
15 January 05:56 PM EG Bank to distribute bonus shares early February
Cairo – Mubasher: Egyptian Gulf Bank (EG Bank) has announced that it will begin the distribution of bonus shares on Monday, 3 February. The value of a bonus share will equal 0.069 of a regular share before the increase of the bank’s capital, …
Wafrah will soon file for the capital cut to the Capital Market Authority
15 January 04:25 PM Wafrah appoints financial advisor for capital decrease
Riyadh – Mubasher: Wafrah for Industry and Development Company has announced the appointment of Wasatah Capital as the financial advisor for its capital decrease. The company will soon present its capital decrease request to the Saudi Capital …
Fawry logged a net profit of EGP 76.25 million in nine months
15 January 01:23 PM Fawry to subscribe to unit’s EGP 35m capital raise
Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments announced that its board of directors approved to subscribe to a capital increase of Fawry Microfinance Company.  The Egyptian e-payment platform approved to raise the capital …
The Executive Council of Dubai has launched the Dubai Future District
14 January 06:00 PM Dubai Council launches AED 1bn fund for new-economy companies
Dubai – Mubasher: Dubai is set to launch a new stock market and a AED 1 billion fund to support new-economy companies, which have the potential to boost the emirate's future growth, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of …
Pioneers Holding seeks to raise its stake in five subsidiaries to 90%
14 January 12:22 PM Pioneers Holding files draft MTO for 5 subsidiaries
Cairo – Mubasher: Pioneers Holding Company for Financial Investment has submitted a draft mandatory tender offering (MTO) to the Egyptian Financial Regulatory Authority (FRA) to acquire 90% of five subsidiaries through stock swap transactions. The …
Photo Archive
14 January 10:28 AM Aslak profits surge 211% in 2019; board recommends capital cut
Riyadh – Mubasher: United Wire Factories Company (Aslak) reported a 211.27% year-on-year (YoY) growth in net profits after Zakat and tax during 2019, as shown by the company’s annual estimated financial results for last year. Profits amounted to …
Pioneers aims to increase its stakes in these companies to 90%
13 January 03:41 PM Pioneers Holding's board approves FV studies of 5 subsidiaries
Cairo – Mubasher: The board of directors of Pioneers Holding Company for Financial Investment approved the fair value (FV) studies conducted by the financial advisor Fincorp for five of its subsidiaries listed on the Egyptian Exchange (EGX). …
1 March is set for the ownership of Al Aman’s shares
9 January 01:15 PM Securities House’s shareholders approve merger with Al Aman
Mubasher: The extraordinary general meeting of The Securities House approved the contract proposal for the signed merger with Al Aman Investment. Securities House, which owns 50% of Al Aman’s KWD 15 million, will be the merging company, while Al …
A prior meeting of Arzan Financial
8 January 04:46 PM Arzan’s unit changes equity ownership in Hill Top to 25%
Mubasher: Arzan Financial Group for Financing and Investment announced that Arzan Capital Holding Limited’s equity in Hill Top Netherlands 4 PLC has decreased from 49% to 25%. Arzan Capital is a 78.60%-owned subsidiary of Arzan Financial. The sale …
Boubyan Bank offered to acquire BLME for $158m
8 January 12:37 PM Boubyan Bank receives regulatory approval to acquire BLME Holdings
Mubasher: Boubyan Bank has obtained the approval of the UK's Prudential Regulation Authority (PRA) to acquire Bank of London and The Middle East Holdings (BLME Holdings). The offer remains subject to the terms and conditions set in the takeover …
Rubex’s capital may reach EGP 150 million
2 January 10:20 PM Rubex International’s board approves EGP 50m capital hike
Cairo – Mubasher: Rubex International for Plastic and Acrylic Manufacturing’s board has approved an EGP 50 million increase in the company’s issued and paid-up capital. The increase, if approved by the extraordinary general meeting, will see …
Kuwait Cable Vision posted a decline of 53.5% in losses in 9M-19
31 December 2019 05:37 PM Kuwait Cable Vision nods to delist from Boursa Kuwait
Mubasher: The shareholders of Kuwait Cable Vision issued, during the recent ordinary general meeting (OGM), a resolution to voluntarily withdraw from Boursa Kuwait. The company said that the withdrawal was unanimously approved as the company’s …
GFH is a Bahrain-based company listed on 3 markets
29 December 2019 05:03 PM GFH shareholders nod to $500m Sukuk issue
Mubasher: The shareholders of GFH Financial Group approved the board’s proposal to issue Sukuk of up to $500 million in one or more issuances. During the ordinary general meeting (OGM) on Sunday, 29 December, the shareholders also approved to …
The company’s capital will be increased to SAR 26.8m
26 December 2019 06:56 PM Al Babtain’s board ups capital of subsidiary
Riyadh – Mubasher: Al Babtain Power and Telecommunication Company’s (Al Babtain) board has decided to increase the capital of its subsidiary, Integrated Lighting Co. The company’s capital will be increased to SAR 26.8 million from SAR 8.4 million, …
The subsidiary hiked its capital to KWD 12.5m
25 December 2019 06:18 PM Tamdeen Investment’s unit hikes capital by 150%
Mubasher: Tamdeen Investment has announced that one of its subsidiaries, Tamdeen Real Estate Development, completed procedures to increase its capital by 150%. The subsidiary hiked its capital to KWD 12.5 million from KWD 5 million, according to a …
The company increased issued and paid-up capital
25 December 2019 05:19 PM EGX approves listing of Maridive and Oil Services’ capital hike
Cairo – Mubasher: The Egyptian Exchange’s listing committee has approved the listing of the increase in Maridive and Oil Services’ authorised capital to $1 billion from $200 million. The committee also listed the increase in the company’s issued …
Sultan Center Food’s profits reached KWD 1.07 million in 9M-19
24 December 2019 04:34 PM Sultan Center’s unit sells property for KWD 7.4m
Mubasher: Sultan Center for Trading and General Contracting, a 99%-owned subsidiary of Sultan Center Food, sold a property at a value of KWD 7.375 million in Al Dajeej area, listed under investment properties article in the group's consolidated …
Mezzan Holding achieved KWD 9.14 million profits in 9M-19
24 December 2019 01:31 PM Kuwaiti Mezzan acquires majority stake in Saudi firm
Mubasher: Boursa Kuwait-listed Mezzan Holding Company raised its stake in Saudi-based Mezzan Foods Company to 99%. Through one of its subsidiaries in Saudi Arabia, Mezzan signed a KWD 1.2 million agreement to acquire 29% stake in the Saudi company …