Corporate Actions

Moon Capital raises stake in GTH to 5.1%
10 January 01:10 PM Moon Capital raises stake in GTH to 5.1%
Cairo – Mubasher: Global Telecom Holding (GTH) on Thursday said that Moon Capital Partners Master and Moon Capital Master Fund Limited hold around 240.9 million shares in it, accounting for 5.1% of the company’s total capital. Moon Capital …
Osoul Investment announced the settlement of some of its due debts owed by GMG.
9 January 03:59 PM Bahrain’s GMG settles $143,500 debt for Kuwait’s Osoul Investment
Mubasher: Osoul Investment on Wednesday announced the settlement of some of its due debts owed by the Bahraini unlisted Gulf Monetary Group (GMG). The debt settlement amounted to about KWD 43,400 ($143,500), the company said in a statement to …
FAB received complaints from customers on social media over the past few days
8 January 09:05 AM UAE's FAB to repay $47 fee to customers
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) announced it will refund customers who have been charged with AED 175 ($47.70) on their accounts by mistake. Accordingly, the UAE's largest bank has received complaints from customers on social …
Aviation Lease and Finance Co. (ALAFCO) is currently planning to increase its aircraft fleet to 100
3 January 01:49 PM ALAFCO eyes 100 aircraft by early 2020 - CEO
Mubasher: Aviation Lease and Finance Co. (ALAFCO) is currently planning to increase its aircraft fleet to 100 by the beginning of the next decade, said vice chairman and CEO Ahmad Abdullah Alzabin. The Kuwait-based company currently owns 60 …
The Saudi giant now holds 100% of shares in ARLANXEO
31 December 2018 06:40 PM Aramco fully-acquires ARLANXEO from Germany’s LANXESS
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco), and LANXESS AG, a German chemicals company, on Monday announced the completion of Aramco’s acquisition of LANXESS‘s 50%-shares of ARLANXEO Holding B.V., a Netherlands-based specialty …
Pioneers Holding has sold 12 million shares of El Kahera Housing at a total value of EGP 168 million
31 December 2018 01:03 PM Pioneers Holding cuts stake in El Kahera Housing to 53.7%
Cairo – Mubasher: Pioneers Holding Company for Financial Investment on Monday announced it has reduced its stake in El Kahera Housing to 53.7% from 67.03%. The company has sold 12 million shares of El Kahera Housing at a total value of EGP 168 …
Empower will have zero debt in its books at the end of 2018
25 December 2018 02:04 PM Empower settles AED 2.6bn debts before maturity
Abu Dhabi – Mubasher: Emirates Central Cooling Systems Corporation (Empower) on Tuesday announced that it has settled AED 2.67 billion ($728 million) million in loans before their due. “This reflects the robustness and sustainability of our …
The state-run firm ascribed the decision to the underpriced offers presented by the bidders
25 December 2018 00:37 PM Egypt Gas not to sell land plot on underpriced offers
Cairo — Mubasher: Egypt Gas has backtracked on the sale of a land plot located in Smouha, Alexandria in an auction held on 24 December. The state-run firm ascribed the decision to the underpriced offers presented by the bidders, Egypt Gas said in …
Burgan bank closed Sunday’s session 0.7% lower at 282 fils
23 December 2018 03:38 PM Burgan Bank approves capital hike to KWD 400m
Mubasher: Burgan Bank announced that its extraordinary general meeting (EGM) approved the board’s recommendation to increase the authorised capital to KWD 400 million from KWD 250 million, according to a press release on Sunday. This capital raise …
UPAC closed Sunday’s session 8.55% higher at 635 fils
23 December 2018 03:21 PM CMA nods to UPAC’s capital hike prospectus
Mubasher: United Projects Company for Aviation Services (UPAC) announced that the Capital Markets Authority (CMA) approved the rights issue prospectus, according to a bourse disclosure on Sunday. UPAC will disclose the duration of the subscription …
The MoU was signed on Saturday, 22 December
23 December 2018 10:46 AM Saudi National Building to sell 65% stake in unit for SAR23m
Riyadh – Mubasher: National Building and Marketing Co on Sunday announced the signing of a memorandum of understanding (MoU) with Fahd bin Saad Al Madbal to sell its 65% stake in Scientific Company for Pharmaceutical Products Ltd for SAR 23 …
The credit facilities will be raised to KWD 2.85 million
23 December 2018 10:04 AM Metal and Recycling to raise credit facilities to KWD 3m
Mubasher: The board members of Metal and Recycling approved, during their meeting on 20 December, to increase the credit facilities granted from the Industrial Bank of Kuwait. The credit facilities will be raised to KWD 2.85 million instead of KWD …
The transaction has been carried out through 15.9 million shares at a value of EGP 6.3 per share
20 December 2018 04:04 PM Polyserve Fertilizers acquires Ferchem Misr for EGP 100.8m
Cairo – Mubasher: Polyserve For Fertilizers & Chemicals has implemented the mandatory purchase offer on the shares of Ferchem Misr for Fertilizers and Chemicals at a value of EGP 100.8 million. The transaction has been carried out through 15.9 …
The new board includes Mohammed Al Hubail representing Al Zad Real Estate
18 December 2018 05:54 PM Kuwait’s Global names new chairman
Mubasher: Global Investment House announced that its ordinary general meeting (OGM) has elected a new board of directors for the coming three years, according to a recent press release. Faisal Sarkhou, representing KAMCO Investment, was elected as …
Warba Bank has a capital of KWD 150 million
18 December 2018 05:48 PM Warba Bank capital hike subscribed 206%
Mubasher: Warba Bank has announced on Monday that the procedures for raising its capital were subscribed 205.8%, Al Anbaa Newspaper reported. The rights issue value stood at KWD 185.2 million and was closed on 9 December 2018 after 500 million …
Chatti worked with different luxury brands including Cartier, Piaget, and Montblanc
18 December 2018 10:29 AM Damas appoints Hamdi Chatti as executive chairman
Dubai – Mubasher: Dubai-based jewellery group Damas announced that it has appointed Hamdi Chatti as its new executive chairman of the board. Damas, which is one of the first to introduce international jewellery brands to the UAE market, said that …
The repurchased sukuk will be delivered to Bank of New York Mellon in due course for effecting cancellation
16 December 2018 08:58 AM Dana Gas buys back $12m sukuk
Abu Dhabi – Mubasher: The Sharjah-based Dana Gas on Sunday announced a buyback of around $12 million of 4% Nile Delta Sukuk Ltd Certificates– Reg S of the Issuer in December. The repurchased sukuk will be delivered to the principal paying agent …
GIH closed Thursday’s session 1.14% higher at 17.7 fils
13 December 2018 03:43 PM GIH nods to KWD 34m capital hike
Mubasher: The extraordinary general meeting (EGM) of Gulf Investment House (GIH) approved offsetting about KWD 343,090 as part of the accumulated losses as registered on 31 December 2017, according to a bourse statement on Thursday. GIH’s …
Fouad Khan has been elected deputy chairman
13 December 2018 01:00 PM Kuwait’s Amwal names new chairman
Mubasher: Amwal International Investment has elected a new board of directors for the coming three years, according to a bourse disclosure on Thursday. The Boursa Kuwait-listed company has named Badr Al Rezaihan as the new chairman, with the …
KIPCO closed Monday’s session 0.95% lower at 208 fils
10 December 2018 04:03 PM KIPCO elects KAMCO as legal representative for KWD 100m bonds
Mubasher: Kuwait Projects Holding (KIPCO) announced its first meeting for the bondholders committee of KWD 100 million bonds that will be matured in November 2023. The bondholders committee of KIPCO has elected KAMCO Investment as its legal …
AXA Egypt provides 200,000 of those who are benefiting from the Lead Foundation’s financings with life and medical insurance
10 December 2018 08:59 AM AXA Egypt indemnifies 8,000 borrowers with EGP21m in year
By: Fahd Omran Cairo – Mubasher: AXA Egypt, a subsidiary of the French multinational insurance firm AXA, has indemnified around 8,000 borrowers from the Lead Foundation with EGP 21 million a year after signing the contract. The leading global …
The cancellation of the deal didn't have any financial impacts on the firm's financial results
6 December 2018 05:32 PM BATIC cancels asset acquisition deal
Riyadh – Mubasher: BATIC Investment and Logistics Company on Thursday announced that it has inked a cancelation and final settlement agreement with UAE-based companies Abdullah Abbar & Sons Cold Stores (ACS), Dar Al Abbar Ltd. and its subsidiary …
The move is a fruit of the growing partnership with Emirates
4 December 2018 01:13 PM Flydubai begins flights from Dubai International’s Terminal 3
Dubai — Mubasher: Dubai's budget carrier Flydubai announced the beginning of operating flights from  Terminal 3 at Dubai International (DXB) with 11 destinations moving from Terminal 2. The move is a fruit of the growing partnership with Emirates, …
The financial impact of restructuring the loans cannot be determined in the current time
4 December 2018 11:24 AM Noor in talks to restructure KWD 23m loans
Mubasher: Noor Financial Investment is currently in negotiations with two banks to renew and restructure loans valued at KWD 23.26 million ($76.6 million). The Boursa Kuwait-listed company noted that the loans were matured in previous dates, …
The move is aimed at boosting the emirate’s economy
3 December 2018 04:47 PM Dubai's DEWA spurs investors with new decisions
Dubai — Mubasher: The Dubai Electricity and Water Authority (DEWA) on Monday announced that it has waived new connection charges for connections of up to 150 Kilowatts (kW) for commercial and industrial customers for the next two years. The move …