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21 November 10:04 PM

Corporate Actions

Raya Holding suffered net losses of EGP 58.16 million in nine months
02:10 PM Raya Holding considers delisting from EGX – Chairman
By: Heba El-Kordy Cairo – Mubasher: Raya Holding for Financial Investment (Raya Holding) might delist from the Egyptian Exchange (EGX) if the negative performance of the market persists, the company’s chairman and managing director Medhat Khalil …
Corporate Actions
The board recommended raising the company’s capital to SAR 25 million
11:02 AM Al Samaani recommends 66.7% capital hike, 5% dividends
Riyadh – Mubasher: Al Samaani Factory for Metal Industries Company announced on Thursday that its board of directors has recommended increasing capital through the distribution of bonus shares. The 66.67% hike will raise the company’s capital from …
Corporate Actions
The Annual Audit Plan for 2020 was approved
20 November 12:05 PM Dana Gas comments on Egypt, UAE, Kurdistan's operations
Abu Dhabi – Mubasher: The status of Dana Gas’ operations in the UAE, Egypt, and the Kurdistan Region of Iraq have seen a tangible improvement in the collection of outstanding receivables in Egypt as well as Kurdistan Region of Iraq. The firm’s …
The insurer logged a net profit of EGP 145.04 million in FY18/19
18 November 11:59 AM Mohandes Insurance’s shareholders approve EGP 0.90/shr dividend for FY18/19
Cairo – Mubasher: The ordinary general meeting (OGM) of Mohandes Insurance approved a cash dividend distribution of EGP 0.90 per share for fiscal year 2018/2019. The company’s shareholders greenlighted the distribution of EGP 54 million as …
Cash Dividends
The deal involved the sale of 35.289 million shares
17 November 01:40 PM Ezz Steel sells subsidiary to Al Ezz Dekheila Steel for $356m
Cairo – Mubasher: Ezz Steel announced that its shares in Al Ezz Flat Steel Co (EFS) have been sold over the counter (OTC) to Al Ezz Dekheila Steel – Alexandria for $356.066 million (EGP 5.74 billion). The deal involved the sale of 35.289 million …
Corporate Actions
Financial Regulatory Authority
14 November 03:15 PM Egypt’s FRA mulls acquisition offer for Americana Egypt
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) has received a mandatory tender offering (MTO) from Americana Group for Food and Touristic Projects to acquire a 9.65% stake in the Egyptian Company for International Touristic …
Mergers and Acquisitions
Vice chairman of Mubasher Capital Ehab Rashad
14 November 11:42 AM MubasherTrade eyes 200% capital raise – Interview
By: Mahmoud Gamal Mubasher: Mubasher International Trade for Securities (MubasherTrade) aims to increase its capital in the coming period by 200% to EGP 63 million ($1.3 million) from EGP 21 million ($3.9 million), vice chairman of Mubasher …
Macroeconomics
The sale of 31 million shares will raise GBP 160 million
13 November 04:14 PM Emirates NBD confirms sale of 31m Network International shares
Dubai – Mubasher: Emirates NBD Bank on Wednesday announced the sale of 31 million ordinary shares in the share capital of Network International Holdings, according to the lender’s official statement. The sale will be made through the means of an …
Corporate Actions
Financial Regulatory Authority
13 November 03:59 PM FRA approves Arabia Investments Holding’s capital hike
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved to increase the capital of Arabia Investments Holding to EGP 404.7 million from EGP 144.16 million. The number of the company’s shares will be increased by 868.4 million …
Corporate Actions
The deal is valued at a total of SAR 36.7 million
13 November 12:01 PM NCLE concludes Al-Ghad School acquisition
Riyadh – Mubasher: The National Company for Learning and Education (NCLE) has signed a final agreement to fully acquire Al-Ghad National School limited company for SAR 36.7 million. NCLE will purchase all the shareholders' stakes, as per a …
Mergers and Acquisitions
Saudi Paper's net losses reached SAR 24.22 million in Q3-19
12 November 09:16 AM Saudi Paper trims accumulated losses to 7.84% of capital
Riyadh – Mubasher: Saudi Paper Manufacturing Company trimmed its accumulated losses by 7.84% to SAR 7.2 million of its capital, according to a bourse statement on Tuesday. The Saudi-based firm suffered SAR 24.22 million losses during the third …
The new exchange is expected to launch in the first half of 2020
11 November 05:18 PM New platform for 1st Murban crude futures contracts to be launched in ADGM
Abu Dhabi – Mubasher: Intercontinental Exchange on Monday announced that it will launch of a new exchange, ICE Futures Abu Dhabi (IFAD), in Abu Dhabi Global Market (ADGM) to host the first future contracts based on Abu Dhabi National Oil Company’s …
Corporate Actions
Six Flags Qiddiya will be one of the key assets to be unveiled as part of the first phase of Qiddiya
11 November 05:17 PM Six Flags Entertainment names Machamer as new president
Riyadh – Mubasher: Six Flags Entertainment Corporation, the world’s largest regional theme park company, has appointed Brian Machamer as the Park President of Six Flags Qiddiya, Saudi Gazette reported on Monday. “This is the opportunity of a …
Dividends are for the period between 4 April 2018 and 30 September 2019
11 November 04:37 PM Arab Co. Asset Management’s shareholders approve EGP 0.14/shr dividends
Cairo – Mubasher: The ordinary general meeting (OGM) of Arab Co. for Asset Management and Development approved the board of directors’ proposal to distribute cash dividends for the period between 4 April 2018 and 30 September 2019. The company’s …
Corporate Actions
A total of 32.8 million shares will be issued
11 November 01:55 PM Middle East Glass’ shareholders approve EGP 32.8m capital raise
Cairo – Mubasher: The extraordinary general meeting of the Middle East Glass Manufacturing Co. approved increasing the company’s issued capital by EGP 32.8 million to EGP 83.12 million from EGP 50.32 million.   A total of 32.8 million shares will …
General Assembly
IFA will receive KWD 3.023 million from a consortium partner
11 November 01:11 PM IFA to collect $10m receivables
Mubasher: International Financial Advisors (IFA) announced that it will collect part of its receivables from one of the partners forming the consortium that was awarded Umm Al-Hayman project contract. IFA will receive KWD 3.023 million ($10 …
Corporate Actions
Arzan aims to diversify the assets that will be transferred to the new subsidiary
11 November 12:23 PM Arzan reveals motives behind capital cut - Report
By: Mohamed Farouk Mubasher: Arzan Financial Group for Financing and Investment has released on Monday a disclosure to Boursa Kuwait on the goals of its capital cut. The first goal is to separate current non-strategic long-term low-yield …
The offer includes buying 89.89 million shares
7 November 04:03 PM Al Ezz Dekheila gets FRA’s approval on procedures to acquire ERM
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved to publish the disclosure form of the mandatory tender offer (MTO) submitted by Al Ezz Dekheila Steel – Alexandria to fully acquire El Ezz Rolling Mills (ERM), owned by …
Mergers and Acquisitions
Photo Archive
7 November 10:24 AM Kuwait’s CMA approves Sultan Center capital cut
Mubasher: The Kuwaiti Capital Markets Authority (CMA) has approved the capital reduction of Sultan Center Food to KWD KWD 28.941 million, according to a bourse filing on Thursday. The company’s board of directors previously recommended cutting the …
Corporate Actions
CIB also served as bookrunner and underwriter of the transaction
6 November 06:07 PM GB Auto’s unit concludes 1st EGP 425m securitised bond offering
Cairo – Mubasher: Ghabbour Auto (GB Auto) announced that its subsidiary Drive Finance has concluded its first securitised bond offering worth EGP 425 million. Proceeds from the offering will be directed to “deleverage Drive’s balance sheet and …
Corporate Actions
The real estate developer seeks to raise its authorised capital to EGP 1.5 billion
6 November 02:58 PM FRA mulls Heliopolis Housing’s capital hike request
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) announced that Heliopolis Company for Housing and Development has submitted a request to increase its issued capital to EGP 333.7 million from EGP 111.25 million through bonus …
Real estate
The board approved amendments to articles of association.
6 November 12:30 PM Al Shams Housing’s board approves EGP 60.5m capital hike
Cairo – Mubasher: The board of Al Shams Housing and Urbanization has approved the increase of the company’s issued capital to EGP 121 million from EGP 181.5 million through the issuance of bonus shares. The company’s capital will be increased by …
Corporate Actions
The company’s issued capital will be increased to EGP 404.7 million
6 November 11:22 AM Arabia Investments Holding’s capital raise covered by 90.3%
Cairo – Mubasher: Arabia Investments Holding announced that the first and second phases of its rights issue to increase its issued capital were covered by 90.37% involving 868.4 million shares. The number of unsubscribed shares in the first phase …
Corporate Actions
Revenues of the Saudi firm grew by 6.14% to SAR 585.2 million in Q3-19
6 November 10:54 AM Saudi Catering generates SAR 1.6bn revenues in 9M
Riyadh – Mubasher: Net profits of Saudi Airlines Catering Company (Saudi Catering) inched down by 0.42% year-on-year to SAR 142 million during the third quarter of 2019. Revenues of the Saudi firm grew by 6.14% to SAR 585.2 million in Q3-19, …
Corporate Actions
Alasmak’s board amended proposed hike to SAR 400m
6 November 09:11 AM Alasmak submits capital hike request to Saudi CMA
Riyadh – Mubasher: Saudi Fisheries Company (Alasmak) has submitted a request for the increase of its capital by offering right issues to the Capital Markets Authority (CMA), according to a bourse statement released on Wednesday. Last month, …
Corporate Actions