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Corporate Actions

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20 October 12:05 PM Thimar inks framework deal with Al Khair Capital
Riyadh – Mubasher: National Agricultural Marketing Company (Thimar) has signed a framework agreement with Al Khair Financial Company (Al Khair Capital) on 19 October. The agreement aims to provide advisory services that contribute to achieving …
The reactor will be used to produce raw polystyrene through recycling PET plastic waste
20 October 12:01 PM Rubex's board decides to buy polyester production reactor for EGP 2.5m
Cairo – Mubasher: The board of directors of Rubex International for Plastic and Acrylic Manufacturing has approved the purchase of a reactor for raw polyester production for EGP 2.5 million.   The reactor will be used to produce raw polystyrene …
The independent financial advisor valued these assets at EGP 1.179 billion
20 October 11:45 AM GSK Egypt approves valuation report for consumer healthcare assets
Cairo – Mubasher: The board of directors of GlaxoSmithKline (GSK Egypt) approved a fair value (FV) report prepared by the independent financial advisor Grant Thornton - Egypt for the consumer health business assets. These assets include the …
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20 October 10:44 AM Gulf Union Alahlia plans SAR 229.5m capital raise
Riyadh – Mubasher: The board of Gulf Union Alahlia Cooperative Insurance Company recommended a capital increase through a right issues, according to a bourse disclosure on Wednesday. The company intends to raise the capital by SAR 229.47 million …
Societe Arabe Internationale de Banque
19 October 12:20 PM SAIB approves exit from Cairo National Company for Brokerage and Securities
Cairo – Mubasher: The board of directors of Societe Arabe Internationale de Banque (SAIB) approved a decision to exit from Cairo National Company for Brokerage and Securities.  The board also approved the appointment of Marwa Sami Shahin as the …
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19 October 12:20 PM Amiantit’s CEO submits resignation
Riyadh – Mubasher: Saudi Arabian Amiantit Company has accepted the resignation of its CEO, Solaiman Abdulaziz Al Twaijri, on 18 October. The resignation of Al Twaijri will be effective as of 1 November 2021 as his last working day will be 31 …
The acquisition will enable Orascom Construction to foster its presence in the services sector
19 October 11:15 AM Orascom Construction mulls acquisition of three firms in Egypt
Cairo – Mubasher: The board of directors of Orascom Construction PLC, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, approved a proposal to consider the acquisition of up to 100% of Orascom Trading Company, National Equipment Company, and …
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19 October 10:23 AM Thimar announces resignation of CEO
Riyadh – Mubasher: The National Agricultural Marketing Company (Thimar) has accepted the resignation of its CEO, Sari bin Ibrahim Al Mayouf, on 18 October. Al Mayouf has submitted the resignation letter on 15 October, on which it will take effect, …
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18 October 05:06 PM Saudi Paper’s board proposes SAR 145m capital raise
Riyadh – Mubasher: The board of Saudi Paper Manufacturing Company has recommended on 18 October to increase the capital through a rights issue. The company plans to raise the capital by SAR 145 million to support its expansion plans and future …
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18 October 02:07 PM Tihama appoints Chairman, Vice Chairman
Riyadh – Mubasher: The board of Tihama Advertising and Public Relations Company has decided to appoint Sultan Salahuddin Abdul Azim as the Chairman of the company starting 14 October 2021. The board also named Ibrahim Mohammed Ibrahim Al Shabib as …
The company will start its operations upon the issuance of the required licences
18 October 12:00 PM Aspire Capital to set up micro-finance firm
Cairo – Mubasher: Aspire Capital Holding for Financial Investments, formerly known as Pioneers Holding Company for Financial Investment, announced the completion of the establishment of a micro-finance company.  The new firm will have an issued …
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17 October 05:52 PM SADAFCO plans to buy back 8.5% of shares
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) intends to buy back up to 8.46% of its own shares over the coming 12 months, according to a bourse filing on Sunday. SADAFCO intends a buyback of up to 2.74 million shares, noting …
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17 October 04:42 PM Al Naqool concludes establishment of Sadan Industry
Riyadh – Mubasher: Mohamed Hassan Al Naqool Sons Company has completed the issuance of the memorandum of association and commercial register for its subsidiary company under the name of Sadan Industry Company. Sadan Industry will be a 100% owned …
The 24-month deal will have a positive impact on financial results starting from Q4-21
17 October 01:29 PM Speed Medical inks COVID-19 drive-thru testing contract
Cairo – Mubasher: Speed Medical Company signed a contract with the owner of the rights of the COVID-19 drive-thru testing facilities in Egypt. Under the contract, the management and operation of drive-thru testing facilities and their revenues …
The issuance will be conducted by Sarwa Securitization
17 October 12:48 PM Palm Hills' board approves EGP 1.1bn securitisation issuance
Cairo – Mubasher: The board of directors of Palm Hills Developments (PHD) approved a securitisation issuance worth EGP 1.1 billion.  The board has authorised the Chairman individually or the two board members Ali Thabet Farghaly and Amr Hassan …
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17 October 12:28 PM United Cooperative’s board proposes capital hike through rights issue
Riyadh – Mubasher: The board of United Cooperative Assurance Company recommended a capital raise by offering a rights issue at a value of SAR 300 million. The proposed capital hike is expected to endorse the company’s business growth plan, …
The new firm will import used vehicles to be modified for persons with disabilities
14 October 02:59 PM Egytrans to establish $200,000 firm, rejects Hassan Allam's offer
Cairo – Mubasher: The board of directors of Egyptian Transport and Commercial Services Co (Egytrans) decided to establish a new company under the name of Egytrans for Logistics Solutions in the Suez Canal Economic Zone (SCZone) to handle storage …
Mostafa Hassan Mahmoud has been appointed as the company's liquidator
14 October 01:09 PM Hadisolb incurs EGP 590m loss in five months
Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Iron and Steel (Hadisolb) approved the financial position for the period ended 31 May and the liquidation balance from 1 January to 31 May with a net loss of EGP 590.31 million.  …
The company will cancel 5.68 million treasury shares
13 October 11:22 AM Raya Contact Center's board approves capital cut
Cairo – Mubasher: The board of directors of Raya Contact Center decided to reduce its capital by EGP 2.84 million by cancelling 5.68 million treasury shares.  Over the period from 18 March 2020 to 7 September 2020, the company purchased 10.4 …
Financial Regulatory Authority
12 October 10:30 AM FRA approves e-finance's share offering raise
Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved a request by Egypt's e-finance for Digital and Financial Investments to raise the number of the offered shares for sale to 417.77 million, representing 26.1% of the total shares, …
Shares will be listed on 11 October.
10 October 04:53 PM EGX approves listing shares of Pioneers Properties, Gadwa
Cairo – Mubasher: The listing committee of the Egyptian Exchange (EGX) decided to list the shares of Pioneers Properties for Urban Development and Gadwa for Industrial Development, the two resulting firms of the demerger process of Pioneers …
The company’s issued capital will be reduced to EGP 210.96 million
10 October 04:26 PM Pioneers Holding gets EGX's approval for capital cut, name change
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved a request to reduce the authorised capital of Pioneers Holding Company for Financial Investment to EGP 1 billion from EGP 10 billion. The committee also agreed on cutting …
The meeting was headed by the Chairman, Ziyad Mahmoud Khairallah Al Haji.
7 October 02:15 PM Sharjah Group's shareholders approve rebranding to ARAM Group
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Sharjah Group Company has approved a decision to change the company's name to ARAM Group Company.  In addition, the company's shareholders also greenlighted the addition of investment …
The last working day of the CEO will be on 14 December 2021
7 October 11:02 AM Natural Gas Distribution's CEO resigns
Riyadh – Mubasher: Natural Gas Distribution Co announced that its board of directors accepted the resignation of Abdul Rahman bin Rashid Al Balawi from his position as the CEO of the company. The last working day of the CEO, who cited personal …
Emaar Misr for Development logged net profits of EGP 1.33 billion in six months
6 October 02:02 PM Emaar Misr allows non-executive board members to contribute to similar companies
Cairo – Mubasher: The ordinary general meeting (OGM) of Emaar Misr for Development approved a decision to allow non-executive board members to invest, manage, and serve as executive or non-executive board members of other companies.  The decision …