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06 December 12:52 AM

Management Decisions

Saudi Capital Market Authority
5 December 11:17 AM CMA approves Ash-Sharqiyah capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Ash-Sharqiyah Development Company’s request to increase its capital from SAR 75 million to SAR 120 million. The capital hike will be through the issuance of 4.5 million …
Management Decisions
Saudia Dairy and Foodstuff Company
4 December 10:31 AM SADAFCO approves share purchase
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) has approved the purchase of up to 2.75 million company shares to be used as treasury shares. During the company’s extraordinary general assembly meeting (EGM), held on Tuesday, the …
General Assembly
The capital increase will be through a SAR 250 million rights issue
3 December 10:25 AM CMA approves Saudi Cable capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Saudi Cable Company’s request to increase its capital through a rights issue valued at SAR 250 million. The increase will be limited to the shareholders who are registered in …
Management Decisions
The ownership transfer is subject to Boursa Kuwait’s approval
2 December 03:55 PM First Dubai inks settlement deal with Al Mazaya Holding
Mubasher: First Dubai for Real Estate Development has signed a partial settlement agreement with its parent company, Al Mazaya Holding, to reduce its liability by KWD 1.341 million ($4.42 million). The reduction will be carried out in return for …
Real estate
Capital Market Authority
2 December 11:08 AM Tabuk Agricultural seeks CMA approval for capital cut
Riyadh – Mubasher: Tabuk Agricultural Development Company filed a capital reduction request to the Saudi Capital Market Authority (CMA), according to a statement to the Saudi Stock Exchange (Tadawul). The company’s board of directors has recently …
Management Decisions
The OGM approved the board’s report for fiscal year ended August 2019
1 December 11:56 AM Cairo Investment’s OGM approves EGP 0.042/shr dividend
Cairo – Mubasher: The ordinary general meeting (OGM) of Cairo For Investment and Real Estate Development company approved the financial statements and dividend distribution for the previous fiscal year that ended August 2019. The OGM consented to …
Management Decisions
Accumulated losses amounted to SAR 77.84 million
28 November 05:26 PM Alhokair Tourism to offset SAR 71.7m accumulated losses
Riyadh – Mubasher: The board of Abdulmohsen Alhokair Group for Tourism and Development company has approved utilizing the company’s SAR 71.7 million statutory reserves to offset accumulated losses. The company’s accumulated losses amounted to SAR …
he proposed cut will reduce the capital from SAR 196 million to SAR 15 million
26 November 10:55 AM Anaam Holding board recommends 92% capital cut
Riyadh – Mubasher: The board of Anaam International Holding Group has recommended reducing the company’s capital by 92.35% to offset the company’s accumulated losses. The proposed cut will reduce the capital from SAR 196 million to SAR 15 million, …
Board of Directors
The company’s accumulated losses reached SAR 59.59 million
21 November 11:25 AM SAMA orders ACIG to raise statutory deposit
Riyadh - Mubasher: Allied Cooperative Insurance Group (ACIG) announced that it has received a letter from the Saudi Arabian Monetary Authority (SAMA) obligating the company to increase the statutory deposit ratio to 15% of capital. This was …
Markets Regulations
The board recommended raising the company’s capital to SAR 25 million
21 November 11:02 AM Al Samaani recommends 66.7% capital hike, 5% dividends
Riyadh – Mubasher: Al Samaani Factory for Metal Industries Company announced on Thursday that its board of directors has recommended increasing capital through the distribution of bonus shares. The 66.67% hike will raise the company’s capital from …
Board of Directors
The board recommended an ordinary general meeting
19 November 04:32 PM Injazzat Real Estate’s CEO resigns
Mubasher: Injazzat Real Estate Development’s board has accepted the resignation of the company’s CEO Faisal Fahad Al-Shaya, according to a bourse statement released on Tuesday. The board recommended an ordinary general meeting for the election of …
Board of Directors
Photo Archive
17 November 01:05 PM Saudi Aramco excludes board members from IPO eligibility
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has issued some amendments to the guidelines of its initial public offering (IPO). The company has excluded board members from the eligibility to participate in the IPOs, only senior …
Management Decisions
The capital hike will be through offering right issues
17 November 11:26 AM Al-Kathiri Holding board plans capital hike
Riyadh - Mubasher: Al Kathiri Holding Company announced the Board of Directors’ recommendation to increase the capital to SAR 45.2 million, according to a correcting announcement to the Saudi Stock Exchange (Tadawul) on Sunday. The capital hike …
General Assembly
Al-Mubaraki will oversee the development of the team
16 November 08:28 PM KIB hires new deputy general manager for wholesale banking
Mubasher: Kuwait International Bank (KIB) has appointed Hesham Ahmad Al-Mubaraki as deputy general manager of wholesale banking – head of domestic commercial banking, according to a bank statement released on Saturday. Al-Mubaraki will oversee the …
Banking and Finance
The company plans to cut capital by 46.27%
14 November 11:57 AM Tabuk appoints Wasatah Capital as capital cut manager
Riyadh – Mubasher: Tabuk Agricultural Development Company has appointed Wasatah Capital as a financial advisor to manage its capital reduction, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday. Tabuk further revealed that …
The capital hike will be through issuing 24.7 million ordinary shares
13 November 05:08 PM CMA approves Al-Ahsa Development capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) announced approving Al-Ahsa Development Company’s request to increase its capital from SAR 490 million to SAR 737.32 million. The capital hike will be carried out by issuing about 24.7 …
The company will buy shares worth SAR 15 million
13 November 11:30 AM Bupa Arabia approves buying SAR 15m LTIP shares
Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company announced that its Extraordinary General Assembly Meeting (EGM) on Tuesday approved the company’s purchase of long-term incentive plan (LTIP) shares. The company will buy shares …
Management Decisions
Al-Sudairi was SEC's CFO and Acting CEO
13 November 10:38 AM Saudi Electricity appoints new CEO
Riyadh – Mubasher: Saudi Electricity Company (SEC) has announced the appointment of Fahad bin Hussein Al-Sudairi as CEO. The company’s board of directors decided on the appointment on Tuesday 12 November, with the decision being effective starting …
Management Decisions
Arzan aims to diversify the assets that will be transferred to the new subsidiary
11 November 12:23 PM Arzan reveals motives behind capital cut - Report
By: Mohamed Farouk Mubasher: Arzan Financial Group for Financing and Investment has released on Monday a disclosure to Boursa Kuwait on the goals of its capital cut. The first goal is to separate current non-strategic long-term low-yield …
Board of Directors
Al Sharif appointment is subject to competent authorities' approval
5 November 02:27 PM Takaful Emarat hires new CEO
Dubai – Mubasher: The board of Takaful Emarat – Insurance has approved the appointment of Wael Al Sharif as new CEO. The appointment of Al Sharif is subject to the approval of the competent authorities, the company said in a bourse statement …
Management Decisions
The company’s board of directors approved the proposed split in February
4 November 05:53 PM Arzan Group reveal asset valuation before split
Mubasher: Arzan Financial Group for Financing and Investment announced that it has received the evaluation for assets that will be moved into the new company that will result from the expected split. Assets were evaluated at around KWD 51.21 …
The OGM also approved H1-19’s financial statements
28 October 10:54 AM Acrow Misr to distribute EGP 1.75/shr dividend
Cairo – Mubasher: The ordinary general meeting (OGM) of Acrow Misr for Scaffolding and Formwork Company approved to distribute EGP 1.75 per share as cash dividends to its shareholders. The dividends total EGP 96.34 million distributed on 55.05 …
Management Decisions
The decision facilitates the initial investment and set-up policies
22 October 12:25 PM Ajman Media City abolishes eChannel deposit requirement for investors
Mubasher: Sheikh Abdul Aziz bin Humaid Al Nuaimi, the chairman of Ajman Media City Free Zone (AMC), announced removing the mandatory e-channel deposit for the entrepreneurs establishing businesses in the AMC. The decision is a significant boost …
Management Decisions
Farsakh holds a Master of Science in civil engineering
22 October 09:09 AM Arabtec Construction’s CEO resigns
Dubai - Mubasher: Arabtec Holding, a leading contractor for social and economic infrastructure, on Tuesday announced that the CEO of its wholly-owned subsidiary, Arabtec Construction, Boyd Merrett has resigned. Accordingly, the group chief …
The Saudi firm plans a rights issue of SAR 300 million
20 October 05:12 PM Gulf General appoints FALCOM to advise on capital raise
Riyadh – Mubasher: Gulf General Cooperative Insurance Co. announced the appointment of FALCOM Financial Services as a financial advisor to manage the subscription to the company’s capital raise through a rights issue. Any further developments …
Corporate Actions