Corporate Actions

Bilateral investments between Adnoc and Saudi parties will expand to Enhanced Oil Recovery (EOR)
3 hours ago Adnoc, Saudi KFUPM partner to boost R&D
Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (Adnoc) has signed an agreement with Saudi Arabia-based King Fahd University of Petroleum and Minerals (KFUPM) to explore cooperation opportunities in research and development (R&D), along …
Al Kaabi replaced Mohammed al-Sada
14 November 03:39 PM Qatar appoints Al Kaabi as new head of OPEC delegation
Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday announced that Qatar has named Saad Al Kaabi as head of the country’s OPEC delegation. Al Kaabi replaced Mohammed al-Sada, according to OPEC’s statement. Earlier …
The decision will be effective as of 30 November
14 November 01:47 PM MSCI removes Mopco from Global Small Cap Index
Cairo – Mubasher: MSCI Inc announced it has removed Misr Fertilizers Production Co (Mopco), listed on the Egyptian Exchange (EGX), from its the MSCI Global Small Cap Index. The decision will be effective as of 30 November, according to the index …
The postponement reason was not revealed.
14 November 01:12 PM Marseilia Group postpones EGX listing to Q1-19
By: Abdullah Bedier Cairo – Mubasher: Marseilia for Real Estate Investment has decided to postpone its shift from the Nile Stock Exchange (NILEX) to the Egyptian Exchange (EGX), the group’s chairman said. The Egyptian real estate group was …
DSI’s shareholders voted to allow the Dubai-listed firm to continue business
14 November 12:48 PM DSI appoints new restructuring advisors
Dubai — Mubasher: Drake and Scull International (DSI) on Wednesday announced hiring new international advisors to implement a fresh restructuring process, along with setting up a full-fledged operational and fiscal plan in collaboration with the …
Adnoc is in discussion with further potential partners for the remaining 15% of the available 40% stake in Ghasha concession
13 November 10:18 AM Italy’s Eni wins 25% stake in Adnoc’s offshore gas concession
Abu Dhabi: The Abu Dhabi National Oil Company (Adnoc) has awarded Italy’s oil and gas company Eni a 25% stake in its offshore ultra-sour gas megaproject. The Ghasha Concession comprises of the Hail, Ghasha, Dalma and other offshore fields. Adnoc …
Bonds will be issued with a five-year tenor
12 November 03:41 PM CMA OKs Burgan Bank’s KWD 150m unsecured bond issue
Mubasher: Burgan Bank on Monday announced that it has received the approval of the Capital Market Authority (CMA) to issue a KWD 150 million ($495 million) senior unsecured bonds in the local market. Bonds will be issued with a five-year tenor, …
This contradicts with the independence condition stipulated in the FRA's  2017 decision.
12 November 11:29 AM Naeem Holding’s unit not to set Global Telecom’s FV
Cairo – Mubasher: Global Telecom Holding on Monday announced that Naeem Financial Investments, a subsidiary of Naeem Holding, has apologised to prepare the fair value (FV) report of the company’s shares for the capital increase. Naeem has declined …
Dina Abo-Onoq, A&M’s new chief country manager for Saudi Arabia
12 November 10:48 AM A&M appoints 1st Saudi woman as chief country manager
Riyadh – Mubasher: Alvarez & Marsal (A&M) has appointed the first Saudi Woman, Dina Abo-Onoq, as a chief country manager for Saudi Arabia. Abo-Onoq is one of the Saudi women who held a slew of leading positions in international consulting …
Al Khalifa replaces Ali Al Kuwari
11 November 04:33 PM QNB names Abdulla Mubarak as acting CEO
Mubasher: Qatar National Bank (QNB) on Sunday announced that it has appointed Abdulla Mubarak Al Khalifa as acting interim CEO of the largest bank in the Middle East and Africa. Al Khalifa replaces Ali Al Kuwari, who was named as the trade and …
The general assembly also agreed to finance the capital increase to fund the company’s motivation and reward system
11 November 01:36 PM Orascom Development OKs EGP 22.16m capital hike
Cairo – Mubasher: Orascom Development Egypt on Sunday said that its extraordinary general meeting (EGM) had agreed to raise the company’s issued and paid-up capital to EGP 1.13 billion from EGP 1.10 billion. The EGM approved an EGP 22.16 million …
The company will first post its results for the first half of 2018.
11 November 11:42 AM Al Khodari to delay disclosure of Q3 results
Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons Company on Sunday announced that it will disclose its financial results for the third quarter of 2018 in November. The earnings statement will not be released on time as the company is still …
Maintenance works are expected to be completed within 30 days
11 November 11:16 AM Sahara shuts down Al Waha Petrochemical on technical defect
Riyadh – Mubasher: Sahara Petrochemical Company (Sahara) on Sunday announced that it has closed its subsidiary Al Waha Petrochemical Company due to a technical defect in the cold box unit on Friday. The company revealed that it is prepared for the …
Chairman of Marseilia Group Sherif Heliw
11 November 10:33 AM Marseilia Group eyes listing on EGX end-2018
By: Abdullah Bedier Cairo – Mubasher: Marseilia for Real Estate is looking to shift from the Nile Stock Exchange (NILEX) to the Egyptian Exchange (EGX) by the end of 2018, after meeting the listing prerequisites, chairman Sherif Heliw told …
Naeem Investments will evaluate the company’s shares fair value
8 November 03:30 PM Global Telecom appoints Naeem Investments as financial advisor
Cairo – Mubasher: Global Telecom Holding on Thursday announced that it has appointed Naeem Financial Investments Company, a subsidiary of Naeem Holding, to be its financial advisor.    Naeem Investments will evaluate the company’s share fair value …
Agility Investment Holding is a subsidiary of Agility Public Warehousing Company
8 November 02:27 PM NREC nods to KWD 31m loan conversion from Agility
Mubasher: National Real Estate Company (NREC) approved the conversion of the KWD 31 million loan pledged from Agility Investment Holding into 272.8 million shares in the NREC's share capital at the nominal value of 100 fils per share and share …
The company’s issued capital will reach EGP 233.11 million
8 November 01:00 PM Cairo Investment to raise capital to EGP 233m
Cairo – Mubasher: Cairo Investment and Real Estate Development on Thursday announced that its board has approved increasing the company’s capital by 35 million shares at EGP 6 per share, bringing the total value of the increase to EGP 210 million. …
Ajman Bank issued 419.67 million shares at an issuance price of AED 1 per share to raise its capital to AED 2.1 billion
7 November 04:43 PM Ajman Bank ends capital hike via rights issue Wednesday
Dubai – Mubasher: Ajman Bank said that the subscription period of increasing capital through right issue shares ended on Wednesday, 7 November. Last week, the UAE-based lender listed on the Dubai Financial Market (DFM) announced the extension of …
The second and last debt installment is worth KWD 30.732 million
7 November 03:36 PM Noor repays KWD 19m debt installment
Mubasher: Noor Financial Investment has signed a settlement agreement with two out of four creditor banks for repaying its debt. The Boursa Kuwait-listed company has repaid a first debt installment valued at KWD 18.786 million ($62 million), …
IIB generates an investment return rate (IRR) of 18% from the deal.
7 November 03:34 PM IIB exits from Airbus aircraft investment
Dubai – Mubasher: International Investment Bank (IIB) on Wednesday announced that it has successfully exited from its investment in an Airbus wide-body aircraft leased to a European airline, generating an investment return rate (IRR) of 18%. The …
The transaction is expected to take place prior to mid-2019
7 November 01:28 PM Qalaa’s unit inks MoU to exit from Algerian Zahana Cement
Cairo - Mubasher: Qalaa Holdings on Wednesday said that its subsidiary, Asec Cement, has signed a memorandum of understanding (MoF) with Groupe industriel des ciments d'Algérie (GICA) to exit from the Algeria-based Zahana Cement Factory. Upon the …
Al Seddiqi’s appointment comes following the resignation of Adel Al Awadhi
7 November 12:34 PM Jassim Al Seddiqi joins Dana Gas’ board
Abu Dhabi - Mubasher: Dana Gas announced the appointment of Jassim Al Seddiqi as a member of its board of directors, according to a recent statement. The UAE-based energy producer noted that the new position will be effective on Wednesday, 7 …
Time Hotels currently has three projects in the UAE
6 November 05:10 PM Time Hotels boosts footprint in UAE, Egypt - Interview
By: Enas Bahgat Dubai – Mubasher: Dubai-based Time Hotels has invested AED 614,090 ($167,210) in its TIME Nozha Aqua Park Hotel & Resort in Egypt, in partnership with Cairo-based Nozha Group, CEO of Mohamed Awadalla said on Tuesday. The new hotel …
Al-Mansoori’s statement came on the sidelines of a consultative meeting organised by the bourse
6 November 05:04 PM QSE to roll out unified E-system for disclosures – CEO
Mubasher: The Qatar Stock Exchange (QSE) is planning to introduce a new electronic system to help listed companies produce unified disclosure format, Rashid bin Ali Al-Mansoori, the Qatari bourse’s CEO, announced on Tuesday. Al-Mansoori’s …
Work will be resumed on Monday, 19 November
6 November 04:25 PM UAE cabinet announces Prophet's Birthday holiday
Abu Dhabi – Mubasher: The UAE Cabinet has announced that Sunday, 18 November will be a public holiday for ministries and federal authorities, instead of Tuesday 20 November on the occasion of celebrating the Prophet’s Birthday. As for the private …