Corporate Actions

Riyadh – Mubasher: The board of Chubb Arabia Cooperative Insurance Company accepted the resignation of Talal Omar Bahafi, the company’s CEO. Bahafi resigned on 12 September 2024 due to personal reasons, yet it will be effective on 30 September, …

Riyadh – Mubasher: Al Baha Investment and Development Company submitted an application file to the Capital Market Authority (CMA), on 11 September 2024, to lower its capital. The Saudi firm aims to reduce the company's capital from SAR 297 million …

Riyadh – Mubasher: The board members of Qomel Company proposed a 100% capital raise to SAR 70 million from SAR 35 million, according to a bourse disclosure. The firm will capitalise SAR 32.62 million from the balance of share premium and SAR 2.40 …

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Saudi Enaya Cooperative Insurance Company to raise its capital by SAR 150 million. The insurance firm aims to increase its capital to SAR 380 million from SAR 230 …

Riyadh – Mubasher: The board members of Emaar The Economic City (EEC) approved a transformative business strategy in line with Saudi Vision 2030, according to a press release. This strategy covers a SAR 8.70 billion capital optimisation plan (COP) …

Riyadh – Mubasher: Abdullah bin Sulaiman Al Juraish resigned from his position as the Acting CEO of Saudi Advanced Industries Company (SAIC) on 5 September 2024. The board members accepted Al Juraish’s request to leave the position due to personal …

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Jabal Omar Development Company to raise its capital by converting debt worth SAR 547.49 million. The listed company submitted the increase application file to the CMA …

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company unveiled the appointment of Serge Michel Osouf as the Chairman of the board for the new three-year term. The company also announced Steve Brian Dixon as the Vice Chairman and Abdulaziz …

Riyadh – Mubasher: Siemens Mobility has announced Frank Hagemeier as its new CEO for Saudi Arabia, according to a press release. Hagemeier previously served as the CEO of Siemens Mobility Division in the Netherlands and China, bringing his …

Cairo - Mubasher: Egypt's Prime Minister, Mostafa Madbouly, reappointed Ahmed El-Sheikh as the Chairman of the Egyptian Stock Exchange (EGX). Meanwhile, Heba El-Serafi was announced as the Vice Chairman for a one-year term, according to an …

Riyadh – Mubasher: Moath Qasem Al Khasawneh resigned from his position as the CEO and Managing Director of Yaqeen Capital Company on 22 August 2024. Al Khasawneh’s resignation will become effective on 30 September 2024, according to a bourse …

Cairo – Mubasher: Suez Canal Authority (SCA) increased its equity ownership in Suez Canal Bank to 3.42% from 0.001%, according to a bourse disclosure. SCA purchased 15.76 million shares in the EGX-listed lender for EGP 238.87 million, at an …

Cairo – Mubasher: Arab Developers Holding suffered consolidated net losses valued at EGP 11.41 million in the first half (H1) of 2024, compared to profits worth EGP 53.38 million as of 30 June 2023. The sales plummeted by 82% year-on-year (YoY) to …

Cairo – Mubasher: Egypt Gas posted year-on-year (YoY) higher net profits at EGP 167.61 million in the first half (H1) of 2024, compared to EGP 122.81 million. The revenues increased to EGP 3.01 billion as of 30 June 2024 from EGP 2.10 billion in …

Riyadh – Mubasher: The board of Fawaz Abdulaziz Al Hokair Company (Cenomi Retail) approved the appointment of Salim Fakhouri as the company’s CEO, which became effective on 14 August 2024. Fakhouri served as the Acting CEO of Cenomi Retail since …

Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) appointed Saad bin Abdulrahman Al Sadhan as the Acting CEO, effective from 13 August 2024. Sultan bin Abdulaziz Al Dughaither, the CEO of Zain KSA, passed away on 6 …

Mubasher: GTN, a global fintech redefining investing and trading for all, has named Ahmad Abouardini as Middle East Relationship Manager, according to a press release. Abouardini has an experience of more than eight years at Saxo Bank, where he …

Dubai - Mubasher: National Central Cooling Company (Tabreed) achieved AED 269.02 million worth of net profits attributable to the shareholders during the first half (H1) of 2024 compared with AED 386.39 million in H1-23. The basic and diluted …