Corporate Actions

The OGM elected new board for the coming three years
19 April 04:11 PM Securities House to shrink capital by KWD 3m
Mubasher: The ordinary general meeting (OGM) of Securities House approved decreasing 6.25% or KWD 3 million of the paid-up capital. Securities House will shrink its capital to KWD 45 million from KWD 48 through cancelling 30 million shares, …
Saudi Binladin Group obtains $2.9bn gov’t loan
19 April 02:58 PM Saudi Binladin Group obtains $2.9bn gov’t loan
Riyadh – Mubasher: Construction giant Saudi Binladin Group (SBG) has obtained a SAR 10.88 billion ($2.9 billion) loan from the kingdom’s government to pay late wages of employees and bank creditors. Saudi Arabia’s biggest builder will also use the …
The remaining capital hike proceeds amounted to EGP 145.93m out of total EGP 992.93m
19 April 02:17 PM SODIC uses EGP 847m of capital hike proceeds end-March
Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) has used EGP 847 million from capital increase proceeds at the end of March 2018. The company has pumped EGP 400 million in 301-acre project at the end of December, the …
EBE aims to develop the credit rating systems
19 April 01:52 PM EBE partners with US S&P to apply IFRS9
Cairo – Mubasher: Export Development Bank of Egypt (EBE) has started a joint programme with Standard & Poor's Financial Services and Bluering company regarding applying the International Financial Reporting Standard 9 (IFRS9). Upon this step, the …
The project will provide a raft of healthcare services
19 April 01:46 PM Saudi German Hospital to build 100-bed hospital in UAE
Riyadh – Mubasher: Saudi-based Middle East Healthcare Company (Meahco) has signed a contract to establish a 100-bed hospital in Al Marjan Island, Ras Al Khaimah as part of its expansion plans in the UAE. The project will provide a raft of …
This stake may represent 5% to 10% of the American Multi-Cinema’s revenues
19 April 12:53 PM AMC eyes 50% share of Saudi cinema market – CEO
Riyadh – Mubasher: US-based movie exhibition company AMC Entertainment Holdings Inc. plans to acquire a 50% share of Saudi Arabia’s cinema market in the coming period, CEO Adam Aron said.  This stake may represent 5% to 10% of the American …
In March, the EGM had approved splitting stock by 1:3 ratio to become EGP 5
19 April 12:28 PM Eastern Co OKs EGP 750m capital hike
Cairo – Mubasher: The board of Eastern Co has approved to raise the company’s capital to EGP 2.25 billion, instead of EGP 1.5 billion through reserves. The top cigarette maker will finance the EGP 750 million increase through EGP 500 million from …
The adjusted appendix will ease the registration of the units
19 April 12:16 PM Porto Group’s arm inks amendments of Porto Dead Sea development deal
Cairo – Mubasher: Porto Dead Sea Co, a subsidiary of Porto Group Holding, has signed an adjusted appendix for the signed agreement with Jordan Free and Development Zones Group. As per the agreement, plots of land witnessing the construction work …
The company will finance the plan through EGP 1.8bn divestments
19 April 11:57 AM Pioneers Holding to invest EGP 2.9bn in 1-yr
Cairo – Mubasher: Pioneers Holding Company for Financial Investment’s board has approved an EGP 2.9 billion investment plan in a year. The company will finance the plan through EGP 1.8 billion divestments, Pioneers Holding said in a filing to the …
The new amendments will be put into effect as of Thursday 19 April 2018
19 April 11:47 AM QCSD raises non-Qatari ownership in QNB to 49%
Mubasher: Qatar Central Securities Depository (QCSD) on Thursday announced that it had amended non-Qatari ownership limit in Qatar National Bank (QNB) to 49% of the capital. QCSD also rose the maximum shareholder ownership limit in the largest …
Green Valley is considering a slew of options to launch some real estate projects in Abu Dhabi
19 April 11:22 AM UAE’s Green Valley implements 13 projects in 6 nations – Chairman
Abu Dhabi – Mubasher: Real estate developer Green Valley is currently carrying out 13 projects in six countries, namely Georgia, Bosnia and Herzegovina, Morocco, Lebanon, Turkey, and the UAE, chairman Wiaam Rabah has said. The Abu Dhabi-based …
The deal entails launching the first of Holiday Inn Express hotels in Saudi
19 April 10:34 AM Al Hokair to operate Holiday Inn Express hotels in Saudi
Riyadh – Mubasher: Saudi-based Abdul Mohsen Al Hokair Group for Tourism and Development Company has signed an agreement with Intercontinental Hotels Group to develop and exclusively operate Holiday Inn Express hotels in the kingdom. The deal …
KPMG eyes offering over 700 jobs in KSA, focuses on Saudis
18 April 04:08 PM KPMG eyes offering over 700 jobs in KSA, focuses on Saudis
Riyadh – Mubasher: KPMG Al Fozan and Partners plans to provide over 700 job opportunities during the coming five years in Saudi Arabia, with a main focus on Saudi employees, the global accounting firm said on Wednesday. KPMG has significantly …
The board also agreed on increasing capital by EGP 1.08 billion distributed over the shares’ par value
18 April 11:33 AM Pioneer Holding OKs 30% capital hike to EGP 4.68bn
Cairo – Mubasher: The board of Pioneers Holding Company for Financial Investment has approved raising issued capital by 30% of the company’s current capital to EGP 4.68 billion from EGP 3.6 billion. The board also agreed on increasing capital by …
Bupa will submit capital hike’s request to the CMA
18 April 11:00 AM Saudi SAMA nods to Bupa’s capital hike
Riyadh – Mubasher: Saudi Arabia-based Bupa Arabia for Cooperative Insurance has obtained the Saudi Arabian Monetary Authority's (SAMA) approval to raise its capital. Bupa will submit capital hike’s request to the Capital Market Authority (CMA), as …
A slew of companies, including EFG Hermes One, advises Bloom Holding on the potential share sale
18 April 10:29 AM Bloom Holding still mulls share sale – CEO
Abu Dhabi – Mubasher: UAE-based Bloom Holding is still considering offering a stake of its shares on the stock market, CEO Sameh Muhtadi has said. A slew of companies, including EFG Hermes One, advises Bloom Holding on the potential share sale, …
QNB’s profits rose 7% to QAR 3.4 billion during the first quarter of 2018
18 April 09:21 AM QNB raises non-Qatari ownership limit to 49%
Mubasher: Qatar National Bank (QNB) on Wednesday announced that its shareholders had approved increasing the ownership limit of non-Qatari investors in the group to 49% from 25% during an ordinary general meeting (OGM) held the previous day. The …
Qatar Fuel also raised maximum limit of individual ownership to 1% of the capital
17 April 04:59 PM Qatar Fuel raises non-Qatari ownership limit to 49%
Mubasher: Qatar Fuel (Woqod) on Tuesday announced that the company’s board had approved increasing the ownership limit of non-Qatari investors in the company to 49% from 25%. The state-run firm also raised maximum limit of individual ownership to …
The deal includes building a centre to accelerate digital solutions
17 April 04:03 PM Saudi Arabia inks deal with Devoteam to boost digital services
Riyadh – Mubasher: The Saudi Communications and Information Technology Ministry on Tuesday signed a cooperation protocol with France-based Devoteam in an effort to set up a digital infrastructure to boost development and achieving the Saudi Vision …
Kuwaiti Global advises major group on buying 27.2% stake in Alsoor
17 April 03:56 PM Kuwaiti Global advises major group on buying 27.2% stake in Alsoor
Mubasher: Global Investment House (Global) has completed advising a large Kuwaiti Group on acquiring a 27.2% stake in Alsoor International Holding Company (Alsoor). The total value of the takeover stood at KWD 15 million, the Kuwait-based regional …
TE would only sell their stake in Vodafone Egypt if it reaches a “critical mass” in the mobile operator market
17 April 12:50 PM TE not to sell stake in Vodafone Egypt
Cairo – Mubasher: Telecom Egypt (TE) has no urgent plans to exit from Vodafone Egypt as the state's landline monopoly deems it a very good investment, TE’s senior investor relations director Sarah Shabayek has said. TE would only sell their stake …
SEC, GE ink Saudi power sector digital transformation deal
17 April 12:48 PM SEC, GE ink Saudi power sector digital transformation deal
Riyadh – Mubasher: Saudi Electricity Company (SEC) on Tuesday announced signing a contract with General Electric (GE) to improve efficiency, performance, and reliability of the nation’s power sector. GE and SEC said they are planning to continue …
The project will include an international hotel and residential units
17 April 11:49 AM Amer Group to launch EGP 3bn tourism project in Port Said
Cairo – Mubasher: A subsidiary of Amer Group Holding Co has signed a contract to establish a commercial tourism residential project in the western gate of Port Said with an estimated investment worth around EGP 3 billion. The project will include …
In March 2018, NADEC had signed a final agreement to take over 100% of Al Safi Danone Co.
17 April 11:13 AM NADEC awaits regulatory approval to complete acquisition of Al Safi Danone
Riyadh – Mubasher: The Saudi General Authority for Competition (GAC) said that National Agricultural Development Company (NADEC) had submitted a request to obtain its approval on the economic concentration stemming from the dairy firm's …
Citigroup will support the Saudi Vision 2030
17 April 10:33 AM Citigroup returns to Saudi Arabia, opens new branch
Riyadh – Mubasher: The US-based Citigroup announced the inauguration of its new office in Kingdom Tower to re-enter Saudi Arabia after quitting the Saudi market in 2004. Citigroup’s expansion in the kingdom comes in line with its strategy to …