Corporate Actions

The OGM has also agreed to extend the maturity date of the ongoing financing worth $39 million
21 March 11:54 AM ADIB Egypt OGM nods to $30m financing
Cairo – Mubasher: Abu Dhabi Islamic Bank Egypt’s (ADIB) ordinary general meeting (OGM) has approved a $30 million financing from Abu Dhabi-listed ADIB. The financing has a maturity of seven years at an expected interest rate of 9.88% to be …
The board has elected Mohamed Khalifa Mubarak as the new chairman
21 March 10:37 AM Aldar Properties names Khlifa Mubarak new chairman
Abu Dhabi – Mubasher: Aldar Properties, Abu Dhabi’s largest property developer, on Thursday announced that its board has elected Mohamed Khalifa Mubarak as the new chairman. The board has also appointed Waleed Ahmed Salem Almokarrab Al Muhairi as …
Temasek Holdings mulls over selling a 10% stake in A.S. Watson for around $3 billion
21 March 09:05 AM UAE’s Mubadala weighs bid for $3bn A.S. Watson stake
Mubasher: Abu Dhabi-based Mubadala Investment Company and Chinese internet-based technology company Tencent Holdings Ltd. are considering bids for part of Singaporean Temasek Holdings Pte’s stake in global retailer A.S. Watson Group, people …
KAMCO's board proposed capital hike to KWD 34.23 million
20 March 06:13 PM KAMCO’s board proposes capital hike to KWD 34m
Mubasher: The board members of KAMCO Investment have recommended, to the extraordinary general meeting (EGM), raising the issued and paid-up capital after a reduction process, according to a bourse statement on Wednesday. KAMCO’s board proposed …
The board recommended distributing cash dividends for the first quarter of 2019 at 70 halalas per share
20 March 12:25 PM Advanced Petrochemical proposes SAR 137.8mn dividends for Q1-19
Riyadh – Mubasher: Advanced Petrochemical on Wednesday announced that its board of directors recommended distributing cash dividends for the first quarter of 2019 at 70 halalas per share to shareholders.  The total value of dividends amount to SAR …
Total cash dividends amounted to AED 55 million
20 March 11:09 AM NMDC board proposes 22 fils/shr dividends for 2018
Abu Dhabi – Mubasher: National Marine Dredging (NMDC) on Wednesday revealed that its board has recommended distributing a cash dividend of 22 fils per share, or 22% of the share’s par value, for the year ended 31 December 2018. Total cash …
The newly-appointed CEO will continue to serve as the managing director of Aamal
19 March 01:46 PM Aamal names Mohamed Bin Faisal as new CEO
Mubasher: Aamal Company on Tuesday announced that its board of directors appointed Sheikh Mohamed Bin Faisal Al Thani as its new CEO as of 26 February. The newly-appointed CEO will continue to serve in his current position as the managing director …
The Qatari firm’s EGM raised its capital to QAR 26.525 billion, distributed over 26.525 billion shares
19 March 12:32 PM Ezdan Holding’s EGM approves stock split
Mubasher: Ezdan Holding Group on Tuesday announced the split of the share’s nominal value to QAR 1 from QAR 10 during an extraordinary general meeting (EGM) held on the previous day. The Qatari firm’s EGM also approved amending its articles of …
The Kuwaiti lender’s EGM approved raising capital to 6.977 billion shares
19 March 12:14 PM KFH’s OGM approves KWD 125m dividends for 2018
Mubasher: Kuwait Finance House (KFH) on Tuesday announced that its shareholders had approved distributing a cash dividend of 20% of the share’s nominal value, or 20 fils per share, with a total value of KWD 125.1 million for 2018 during an …
KIPCO will raise its capital to KWD 200 million
18 March 05:15 PM KIPCO receives CMA approval for 29% capital hike
Mubasher: The Capital Markets Authority (CMA) of Kuwait approved for Kuwait Projects Holding (KIPCO) to increase its issued and paid-up capital by 29.3% of the current issued capital. KIPCO will raise its capital to KWD 200 million from KWD 154.72 …
The company also aims to invest around EGP 3.8 billion into its network in 2019
18 March 04:13 PM Orange Egypt mulls refloating stake on EGX in 2019
Cairo – Mubasher: Orange Egypt for Telecommunications is considering floating a stake on the Egyptian Exchange (EGX) again, the company’s CEO and managing director said. The telecom Egyptian subsidiary of France-based Orange has invested around …
The new board will consist of global digital and e-commerce industry experts
18 March 02:47 PM Emaar Malls names Hadi Badri as Namshi’s chairman
Dubai – Mubasher: Emaar Malls, a unit of Dubai's largest listed developer Emaar Properties, on Monday announced that it has appointed Emaar’s chief strategy officer Hadi Badri as the chairman of e-commerce fashion website Namshi. The new board …
Jet Airways did not give further details on whether the flight suspension is temporary or permanent.
18 March 12:44 PM Jet Airways suspends flights to Abu Dhabi for operational reasons
Abu Dhabi – Mubasher: India’s embattled Jet Airways revealed that it has suspended its flights to Abu Dhabi due to operational reasons. On Thursday 14 March, the Indian carrier cancelled some of its flights from Dubai to Delhi and Mumbai, due to a …
Both firms will take the required measures to allocate their dues and implement the ruling
18 March 12:30 PM Porto Group, Amer Group to get $39.9m payment after court ruling
Cairo – Mubasher: Porto Group Holding and Amer group Holding on Monday announced that the final arbitral ruling of Antaradus for Touristic Development’s lawsuit has been issued. Upon the ruling Amer Syria Company and Amer Holding will be …
Cash dividend worth $30 million will be distributed
18 March 11:21 AM No price adjustment on GFH stock after bonus issue
Mubasher: GFH Financial Group announced that its ordinary general meeting (OGM) has received confirmation from Bahrain Bourse (BHB), the Dubai Financial Market (DFM), and Boursa Kuwait over the price of its stock. The three stock exchanges, on …
Ithmaar incurred a loss of $24 million in FY18
17 March 02:40 PM Ithmaar mulls $300m capital hike
Mubasher: Ithmaar Holding plans to increase its capital by $300 million during the second half of 2019, according to a recent bourse statement. The board members of Ithmaar, listed on Boursa Kuwait, the Bahrain Bourse (BHB), and the Dubai …
The board has also approved to raise the authorised capital to EGP 1 billion from EGP 500 million
17 March 01:41 PM Acrow Misr proposes capital hike via bonus shares
Cairo – Mubasher: Acrow Misr for Scaffolding and Formwork’s (ACRO) board of director has proposed the distribution of a 2-for-3 basis bonus shares for fiscal year 2018. This recommendation was made in order to raise the company’s issued and …
Kucera replaced Jose-Luis De La Fuente
17 March 12:57 PM Continental names Karel Kucera as new MD for Mideast, Africa operations
Dubai - Mubasher: German auto parts and tyremaker Continental on Sunday announced that it has appointed Karel Kucera as the company’s new managing director (MD) for the Middle East and Africa operations, effective from 1 March. Kucera replaced …
Al Harbi has been named as the CEO, effective on 14 April.
17 March 11:31 AM Viva names Al Harbi as new CEO
Mubasher: Kuwait Telecommunication Co (Viva) announced the appointment of Maziad Nasser Al Harbi as the new CEO of the telecom company, according to a bourse disclosure on Sunday. Viva noted that Al Harbi has been named as the CEO, effective on 14 …
The remaining sum of the proceeds amounts to EGP 35 million out of total EGP 100 million
14 March 04:30 PM Raya Contact Center uses EGP 65m of capital hike proceeds
Cairo – Mubasher: Raya Contact Center on Thursday announced it has used EGP 65 million of the proceeds of the capital hike subscription listed in November 2017 by the end of 2018. The company has used part of the proceeds to prepare high-quality …
The shareholders also nodded to distribute a cash dividend of 27.38% for the full-year 2018
14 March 11:26 AM ADIB appoints new board of directors
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) on Thursday announced that its shareholders have approved appointing a new board of directors. “We are pleased to announce ADIB’s new Board of Directors, with strong representation from the …
Network International is the largest payment processing firm across the Middle East and Africa
14 March 11:15 AM Emirates NBD’s payment processing unit to go public on LSE
Dubai – Mubasher: Network International, an affiliated associate of Emirates NBD Group, on Thursday announced that it plans to proceed with an initial public offering (IPO) on the London Stock Exchange (LSE). If Network International’s …
The ban aims at protecting public safety in the air and on the ground
13 March 06:43 PM GCAA bans Boeing 737 MAX on Ethiopian crashes
Abu Dhabi – Mubasher:  The UAE General Civil Aviation Authority on Wednesday announced that it has issued a safety decision banning the operation of all Boeing 737 MAX models in the UAE's airspace. The decision, which follows the Ethiopian Airways …
The Qatari firm’s capital reaches QAR 1.86 billion
11 March 01:29 PM Gulf International’s EGM nods to stock split
Mubasher: Gulf International Services (GIS) on Monday announced that its shareholders had approved the split of the share’s nominal value to QAR 1 from QAR 10 during an extraordinary general meeting (EGM). The Qatari firm’s capital reaches QAR …
The deal allows Qatar National Cement to use Qatar Primary Materials’ facilities, silos, and platforms
11 March 01:03 PM Qatar National Cement inks deal with Qatar Primary to boost exports
Mubasher: Qatar National Cement on Monday announced signing a memorandum of understanding (MoU) with Qatar Primary Materials Company to expand in cement export operations. The deal allows Qatar National Cement to use Qatar Primary Materials’ …