Corporate Actions

Lulu Group will open five hypermarkets of 15 by the end of 2018
19 July 02:58 PM UAE retailer Lulu to pump $270m in Saudi Arabia by 2020
Mubasher: Lulu Group has revealed plans to invest SAR 1 billion ($270 million) in Saudi Arabia by 2020 through inaugurating 15 hypermarkets in the coming period. The UAE-based supermarket chain will open five hypermarkets of 15 by the end of 2018, …
Sultan Center will raise its capital to KWD 82.88 million
19 July 01:43 PM Sultan Center nods to capital hike, convertible bonds
Mubasher: The ordinary general meeting (OGM) of Sultan Center Food approved an increase of KWD 25 million in its authorised capital. Sultan Center will raise its capital to KWD 82.88 million from KWD 57.88 million, according to a bourse statement …
The two firms will discuss potential cooperation in digital solutions
19 July 12:09 PM Ma’aden, GE ink deal to boost mining sector’s digital solutions
Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) on Thursday announced siging a memorandum of understanding (MoU) with US conglomerate General Electric (GE) to consider the means of supporting digital transformation in the kingdom's …
The group indicated it has signed an agreement to acquire Abraaj’s stake in The Entertainer
19 July 09:48 AM Bahrain’s GFH denies exposure to Abraaj
Dubai – Mubasher: Bahrain-based GFH Financial Group has affirmed no exposure to the ailing private equity firm Abraaj Group. The group indicated it has signed an agreement to acquire Abraaj’s stake in The Entertainer, according to a statement to …
Aramco and PIF are still in early stage talks over a potential private sale
19 July 09:48 AM Aramco, PIF in talks over SABIC stake
Riyadh – Mubasher: State oil company Saudi Aramco, on Thursday announced starting negotiations with the Public Investment Fund (PIF) to purchase a stake in the Saudi Basic Industries Corporation (SABIC). Aramco and the Saudi Arabian sovereign …
KJO awards 5-yr engineering support contract to SNC-Lavalin
18 July 02:52 PM KJO awards 5-yr engineering support contract to SNC-Lavalin
Mubasher: Al Khafji Joint Operations (KJO) has announced awarding a five-year contract to SNC-Lavalin to provide engineering support services for the company’s projects. KJO is a joint venture (JV) between Aramco Gulf Operations Company Limited, …
The OGM has approved to boost capital by EGP 100 million
18 July 02:18 PM Arab Dairy OGM nods to EGP 100m capital hike
Cairo – Mubasher: The ordinary general meeting (OGM) of Arab Dairy Products Co. (Panda) has agreed to raise the company’s issued capital to EGP 160 million from EGP 60 million. The OGM has approved to boost capital by EGP 100 million, to be …
The meeting discussed potential petrochemical investment opportunities in the Yanbu Industrial City
18 July 01:28 PM China mulls petrochemical investment in Saudi Arabia
Riyadh – Mubasher: Head of the Royal Commission for Jubail and Yanbu Alaa Abdullah Nassif on Wednesday met with a Chinese government delegation, along with representatives from China-based Wanhua Chemical Gr Co and HQC chemicals. The meeting …
Ma’aden owns 74.9% in MBAC
17 July 02:44 PM Ma’aden’s unit amends financing deals’ procedures, replaces existing loans
Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) on Tuesday has announced that its subsidiary Maaden Bauxite and Alumina Company (MBAC) completed amending procedures for existing loan which worth SAR 3.75 billion ($1 billion) with Public …
The board also agreed to amend Article 11 of its articles of association
17 July 02:34 PM Alexandria Container OKs stock split
Cairo – Mubasher: The board of Alexandria Container and Cargo Handling Co has approved to split the nominal value of the share to EGP 0.50, instead of EGP 5. The board also agreed to amend Article 11 of its articles of association, the company …
DCAF will provide full flight operational aircraft management services, maintenance and hangar-parking
17 July 10:45 AM DC Aviation Al-Futtaim boosts jet fleet
Dubai – Mubasher: DC Aviation Al-Futtaim (DCAF) has announced increasing the managed aircraft fleet by adding a new Bombardier Challenger airplane. Under the management contract, DCAF will provide full flight operational aircraft management …
NBK is also looking to boost its banking activities through starting providing wealth management services
16 July 11:37 AM NBK eyes boosting footprint in Saudi Arabia – CEO
Mubasher: The National Bank of Kuwait (NBK)  is working on expanding in Saudi Arabia over the coming period after obtaining two licences to inaugurate branches in Riyadh and Eastern Province, CEO Isam Al Sager has said. Kuwait's largest commercial …
The estimated returns amounted to SAR 53 million before calculating taxes
16 July 10:01 AM Saudi Cable sells stake in Turkish unit at SAR 250m
Riyadh – Mubasher: Saudi Cable Co. has signed an agreement to sell its whole stake in Turkey-based Demirer Kablo to the Chinese firm, Jiangsu Zhongtian Technology Co. (ZTT) at a value of SAR 250 million ($66.7 million). Demirer Kablo is …
Abraaj had signed an agreement to sell some of its key funds
15 July 02:06 PM Eastern Co denies ties to UAE’s Abraaj
Cairo – Mubasher: Eastern Co, listed on the Egyptian Exchange (EGX), has denied any ties with the ailing private equity firm The Abraaj Group. The UAE’s public prosecutor office issued warrants against Abraaj’s founder Arif Naqvi and one of his …
CEO of Al Baraka Banking Group Adnan Yousif
12 July 03:54 PM Al Baraka Group eyes 15% market share by 2020
By: Islam Fadl Cairo – Mubasher: Al Baraka Banking Group is looking to boost its market share in the Egyptian private sector to 15% from 7% in the coming few years. The group seeks to raise its budget by EGP 39 billion to reach EGP 100 billion by …
NBE, EIB discuss $500m to $750m loan
12 July 01:27 PM NBE, EIB discuss $500m to $750m loan
Cairo – Mubasher: National Bank of Egypt (NBE) is in talks with the European Investment Bank (EIB) for financing ranging between $500 million and $750 million. NBE will also pump $150 million, around 20% of an international loan it signed last …
Danah Al Safat will reduce the capital to KWD 12.168 million
12 July 12:41 PM CMA nods to Danah Al Safat 18% capital cut
Mubasher: The Capital Markets Authority (CMA) approved for Danah Al Safat Foodstuff to shrink its capital by 18.2%. Danah Al Safat will reduce the capital to KWD 12.168 million from KWD 14.875 million to offset its accumulated losses, according to …
DBK Pharma is considering to offer about 25% stake on the two markets
12 July 11:43 AM DBK Pharma mulls dual-listing on EGX, Tadawul
Cairo – Mubasher: DBK Pharma is planning a dual-listing on the Egyptian Exchange (EGX) and the Saudi Stock Exchange (Tadawul) in the first half of 2019. The pharmaceutical firm is considering to offer about 25% stake on the two markets, sources …
Eastern Co will raise the price of six brands by EGP 1.5 to EGP 3
12 July 11:09 AM Eastern Co raises cigarette prices on new health insurance law
Cairo – Mubasher: Eastern Co will raise the prices of its cigarettes by a minimum of 150 piasters per pack as of Thursday, 12 June, chairman Mohamed Osman Haroun said. This increase in prices comes in regards to the new health insurance law, which …
Mazaya Qatar not to acquire Tornado Tower
12 July 10:52 AM Mazaya Qatar not to acquire Tornado
Mubasher: Mazaya Qatar Real Estate Development on Thursday announced that its subsidiary Granada Real Estate Investment Company has reached a final agreement with the two companies owning Tornado Company, whereby it will not proceed with its …
Al Khodari Sons renewed an Islamic facilities agreement with Riyad Bank worth SAR 231.377 million
12 July 09:57 AM Al Khodari Sons renews SAR 231m Islamic loan
Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons Company on Thursday said it has renewed an existing Islamic facilities agreement with Riyad Bank at a value of SAR 231.377 million ($61.7 million). The loan aims to provide bonding …
Barwa noted that Alaqaria has constructed these projects to be leased to QP
11 July 04:56 PM Barwa inks QAR 670m financial leasing deals with QP
Mubasher: Barwa Real Estate, a fully owned subsidiary Qatar Real Estate Investments Company “Alaqaria”, on Wednesday announced signing contract termination and discharge release for two financial leasing agreements with Qatar Petroleum (QP). The …
Beltone aims to begin Sarwa’s IPO roadshow by the end of the current summer season
11 July 01:21 PM Sarwa Capital to float 30% stake on EGX in Q4
Cairo – Mubasher: Beltone Financial Holding will manage the offering of around 30% stake in Sarwa Capital on the Egyptian Exchange (EGX) in the fourth quarter of 2018. The Egyptian investment bank aims to begin Sarwa’s initial public offering …
China eyes Saudi cooperation for Belt-and-Road initiative
11 July 12:56 PM China eyes Saudi cooperation for Belt-and-Road initiative
Riyadh – Mubasher: China has revealed plans to expand mutual cooperation with Saudi Arabia in the trillion-dollar Belt and Road initiative. China also seeks to support the Saudi Vision 2030, councilor and foreign minister Wang Yi said. “China and …
The deals are performed in a number of sectors, including food industries, retail, education, and health
11 July 11:59 AM Pharos Holding manages EGP 7bn deals
Cairo – Mubasher: Pharos Holding is managing 15 acquisition and restructuring transactions worth over EGP 7 billion, managing director Noha El Ghazaly said. The deals are performed in a number of sectors, including food industries, retail, …