Corporate Actions

Alinma Fund’s termination agreement was signed on 12 November 2020

15 April 12:30 PM Al Akaria liquidates Alinma Fund within two months

Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) is working on liquidating and terminating Alinma Fund within two months, according to a disclosure to Tadawul on Thursday. The company is also planning to transfer the ownership of …

The Aldar-led alliance offered to acquire at least 51% of SODIC

15 April 12:03 PM SODIC hires financial advisors to study acquisition offer by Aldar Properties

Cairo – Mubasher: The board of directors of Six of October Development and Investment (SODIC) approved the appointment of EFG Hermes and an international investment bank as financial advisors to study the preliminary acquisition offer submitted by …

Aldrees aims to meet the size of its business

15 April 11:05 AM Aldrees’ shareholders approve SAR 150m capital hike

Riyadh – Mubasher: The shareholders of Aldrees Petroleum and Transport Services Company gave the green light for increasing the capital by 25% or SAR 150 million, according to a bourse disclosure on Thursday. The company will raise the capital to …

Board of Directors

Al Jazira Capital has been appointed as the financial advisor for the offering

15 April 10:38 AM Batic seeks SAR 300m capital raise

Riyadh – Mubasher: The board of Batic Investments and Logistics Company on 14 April recommended a capital increase by SAR 300 million through the offering of a rights issue, according to a disclosure to Tadawul on Thursday. Batic aims to finance …

Management Decisions

Tasnee will implement periodic maintenance to the plants

14 April 02:23 PM Tasnee to temporarily close plants; financial impact seen at SAR 90m

Riyadh – Mubasher: The National Industrialization Company (Tasnee) plans to temporarily shut down the ethylene and polyethylene plants for 27 days starting 23 May, according to a disclosure to Tadawul on Wednesday. Tasnee will implement periodic …

Corporate Actions

EFG Hermes will own 51% of the bank

14 April 01:31 PM aiBANK's FV estimated at EGP 1.1bn ahead of acquisition deal

Cairo – Mubasher: The board of directors of the Egyptian Financial Group Hermes Holding (EFG Hermes) approved an acquisition deal in partnership with the Sovereign Fund of Egypt to purchase 76% of the Arab Investment Bank (aiBANK). The acquisition …

Banking and Finance

Saudi Re will raise the capital to SAR 891 million

14 April 01:06 PM Saudi Re receives SAMA nod for SAR 81m capital raise

Riyadh – Mubasher: Saudi Re for Cooperative Reinsurance Company obtained on 13 April the Saudi Central Bank’s (SAMA) approval to increase the capital by SAR 81 million, according to a disclosure to Tadawul on Wednesday. Saudi Re will raise the …

Corporate Actions

Photo Archive

14 April 12:54 PM Telecom Egypt, Sudatel ink MoU to enhance international connectivity

Cairo – Mubasher: Telecom Egypt and Sudatel Telecom Group (STG) signed a memorandum of understanding (MoU) to enhance cooperation in international connectivity between Egypt and Sudan. The MoU aims to develop and make the best use of the network …

Corporate Actions

The company will also distribute EGP 57.6 million worth of bonus shares

14 April 12:08 PM MNHD announces dividend payments to shareholders

Cairo – Mubasher: The ordinary general meeting (OGM) of Madinet Nasr Housing and Development (MNHD) approved distributing cash dividends in instalments for the year ended 31 December 2020. A cash dividend of EGP 648 million or EGP 0.45 per share …

The company’s issued and paid-up capital will be increased by $25.61 million

14 April 11:12 AM EGX approves listing Egypt Kuwait Holding’s capital raise shares

Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of Egypt Kuwait Holding’s (EKH) capital raise shares. The company’s issued and paid-up capital will be increased by $25.61 million to $281.72 million from …

Corporate Actions

Al Shayea has 20 years of experience in the insurance field

13 April 12:46 PM Gulf Union Al Ahlia appoints Al Shayea as CEO

Riyadh - Mubasher: Gulf Union Al Ahlia Cooperative Insurance Company has appointed Mesheal Ibrahim Al Shayea as the CEO of the firm effective from 15 June 2021. The appointment resolution followed the Saudi Central Bank’s (SAMA) approval. Al …

Board of Directors

Raya Holding suffered consolidated net losses of EGP 45.68 million in 2020

13 April 12:43 PM Raya Holding not to distribute dividends for 2020

Cairo – Mubasher: The ordinary general meeting (OGM) of Raya Holding for Financial Investments decided to cancel dividends for 2020, according to a bourse disclosure on Tuesday. During 2020, Raya Holding suffered consolidated net losses of EGP …

Corporate Actions

Sadara confirmed that downstream production units have been fully restored

13 April 12:29 PM Sadara resumes operations of mixed feed cracker

Riyadh – Mubasher: Sadara Basic Services Company said its parent company, Sadara Chemical Company, has recommenced operations of its mixed feed cracker earlier this week, according to a disclosure to Tadawul. This followed the completion of …

Corporate Actions

The group is currently negotiating the terms of the letter of intent with CI Capital

13 April 11:38 AM Cleopatra Hospitals Group intends to acquire 51.5% of Alexandria New Medical Center

Cairo – Mubasher: Cleopatra Hospitals Group (CHG) announced its intention to acquire Abu Dhabi Commercial Bank’s (ADCB) 51.5% stake in Alexandria Medical Services - Alexandria New Medical Center. The group submitted an initial non-binding letter …

Corporate Actions

Nadec appointed Abdulateef Alrajhi as the vice chairman

12 April 06:02 PM Nadec appoints new Chairman, Vice Chairman

Riyadh – Mubasher: National Agricultural Development Company (Nadec) announced on 12 April the appointment of Abdulaziz Saleh Alrebdi as the Chairman of the Board. Nadec has also appointed Abdulateef Abdullah Alrajhi as the Vice Chairman of the …

Corporate Actions

Listing on the main market is subject to shareholders and market's approvals

12 April 05:29 PM National Building’s board approves listing on main market

Riyadh – Mubasher: The board of the National Building and Marketing Company nodded on 12 April to move its trading activities to the main market of the Saudi Exchange (Tadawul), according to a disclosure on Monday. Listing on the main market is …

Markets Regulations

Farid Ibrahim has been the Acting CEO over the past period

12 April 02:22 PM Shams Tourism Enterprises appoints new CEO

Riyadh – Mubasher: Shams Tourism Enterprises Company announced the appointment of Ali Abdullah Al Selham as the new CEO starting 11 April 2021, according to a disclosure to Tadawul on Monday. Farid Ibrahim has been the Acting CEO over the past …

Corporate Actions

Maharah's MoU was concluded on 11 April

12 April 11:18 AM Maharah to acquire majority stake in Spectra Support Services

Riyadh – Mubasher: Maharah Human Resources Company signed a non-binding memorandum of understanding (MoU) to acquire a 90% majority interest in Spectra Support Services Company. The MoU was concluded on 11 April, while a pre-conditions period will …

Corporate Actions

The determining factor in the decision is the market’s capacity to absorb multiple offerings

12 April 11:03 AM Macro Capital delays IPO

Cairo – Mubasher: Macro Pharmaceuticals Group (Macro Capital) announced the postponement of its initial public offering (IPO) on the Egyptian Exchange (EGX). After coordinating and consulting with regulatory authorities, the company decided to …

Corporate Actions

MIS aims to raise the capital to SAR 250 million

12 April 10:28 AM MIS’ shareholders nod to 25% capital hike

Riyadh – Mubasher: The equityholders of Al Moammar Information Systems Company (MIS) approved a 25% capital increase by capitalising SAR 50 million from the reserves and retained earnings. MIS aims to raise the capital to SAR 250 million from SAR …

Corporate Actions

The e-payment firm will increase its issued capital by EGP 400 million

11 April 05:30 PM EGX approves Fawry's rights issue

Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the rights issue of Fawry for Banking Technology and Electronic Payments for 800 million shares to be traded separately from the original stock. The e-payment firm will …

Corporate Actions

Advanced Petrochemical's plants underwent periodic scheduled maintenance

11 April 02:32 PM Advanced Petrochemical announces resumption of two plants

Riyadh – Mubasher: Advanced Petrochemical Company said operations of its propylene and polypropylene plants have resumed on 11 April after completing all required routine and preventive maintenance, according to a disclosure to Tadawul on Sunday. …

Corporate Actions

The company logged net profits of EGP 88.26 million in 2020

11 April 01:56 PM October Pharma's shareholders approve dividends, delay bonus issue

Cairo – Mubasher: The ordinary general meeting (OGM) of October Pharma approved a cash dividend of 30% of the capital or EGP 3 per share for 2020. The shareholders also decided to postpone the issuance of bonus shares for further consideration, …

The company reported net profits of EGP 36.48 million in 2020

11 April 01:38 PM Raya Contact Center's board approves capital cut via treasury stock cancellation

Cairo – Mubasher: The board of directors of Raya Contact Center approved the commencement of procedures to cancel some of its treasury stocks. A total of 4.272 million treasury stocks will be cancelled by reducing capital by EGP 2.14 …

General Assembly

An offer has been submitted to CI Capital to start the negotiation process

11 April 01:18 PM Speed Medical's unit inks alliance deal to acquire Alexandria New Medical Center

Cairo – Mubasher: Speed Medical Company announced that its 80.25%-owned subsidiary Speed Hospitals signed an alliance agreement with medical investment-specialised LimeVest Fund and Tawasol, a subsidiary of the Saudi Elaj Group, for the …

Corporate Actions