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Management Decisions

The affected plant would fully be back to operating
25 July 03:03 PM Bawan receives SAR 10m as insurance for fire incident
Riyadh – Mubasher: Bawan Company has obtained SAR 9.6 million that represented part of the insurance claim covering the fire incident at a factory of its subsidiary Arnon Plastic Industries Company in Dammam city. The listed company did not expect …
Yansab closed the plants since 11 July
25 July 02:26 PM Yansab announces reopening of factories
Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) has completed all maintenance works at its temporarily closed plants and started operations at the facilities on 23 July, according to a bourse filing on Sunday. Yansab earlier …
Al Rashid and Khogeer will assume their positions until July 2024
25 July 01:32 PM Naseej International names Chairman, Vice Chairman
Riyadh – Mubasher: Naseej International Trading Company has appointed Wael Saad Abdulaziz Al Rashid as the Chairman of the company for a three-year term, according to a bourse filing on Sunday. The company also named Ahmed Sirag Abdulrahman …
Wafrah aims to raise the capital by SAR 154m
25 July 11:33 AM Wafrah appoints financial advisor for capital hike
Riyadh – Mubasher: Wafrah for Industry & Development Company has appointed Aljazira Capital to be the financial advisor that will manage the transaction of increasing the company’s capital through a rights issue, according to a bourse filing on …
The outstanding shares will be cancelled
15 July 12:30 PM Saudi Re’s shareholders nod to 10% capital raise; fluctuation limit announced
Riyadh – Mubasher: The shareholders of Saudi Re for Cooperative Reinsurance Co approved the board’s recommendation to increase the capital by 10% or SAR 81 million through bonus shares, according to a bourse filing on Thursday. The new capital …
Chubb Arabia will grant one bonus share for every two owned shares
15 July 12:21 PM Chubb Arabia’s shareholders approve capital hike; fluctuation limit announced
Riyadh – Mubasher: The shareholders of Chubb Arabia Cooperative Insurance Company have agreed to increase the capital by 50% or SAR 100 million through bonus shares, according to a bourse filing on Thursday. The new capital will stand at SAR 300 …
The number of shares after the capital hike will total 10 million
15 July 10:25 AM Thob Al Aseel’s board proposes 33% capital raise
Riyadh – Mubasher: The board of Thob Al Aseel Company has recommended a capital increase of 33.33% or SAR 100 million during its meeting on 14 July. The new capital is expected to stand at SAR 400 million, compared to SAR 300 million prior to the …
SABB owns 20% equity in the insurance company
14 July 05:45 PM SABB plans to exit Wataniya Insurance
Riyadh – Mubasher: The Saudi British Bank (SABB) intends to exit Wataniya Insurance Company to best serve the interest of the bank’s shareholders, according to a bourse filing on Wednesday. The bank is still considering the exit option as part of …
The rights will be deposited into the investors’ portfolios on 25 July
14 July 02:09 PM Raydan discloses shares trading, subscription period; fluctuation limit announced
Riyadh – Mubasher: Raydan Foods Company announced that the beginning of the rights issue trading and new shares subscription period will be on 9 August, according to a bourse filing on Wednesday. The end date for the rights issue period will be on …
The value of the offering will stand at SAR 112.5 million
14 July 01:43 PM Raydan’s shareholders approve capital hike through rights issue
Riyadh – Mubasher: The shareholders of Raydan Foods Company gave the green light for the board’s recommendation to increase the capital through a rights issue of 11.25 million ordinary shares at a par value of SAR 10 each. The value of the …
Tihama owns 51% stake in Intermarkets
13 July 04:56 PM Tihama liquidates Intermarkets on partners’ resolution
Riyadh – Mubasher: Tihama Advertising and Public Relations Company said its partners have decided to liquidate the International Advertising Services Company (Intermarkets), which has not been operating since 18 January 2012. Tihama owns 51% stake …
The capital will stand at SAR 30 million distributed over 3 million shares
12 July 05:05 PM CMA approves Development Works Food’s capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) gave the green light for Development Works Food Company’s request to increase the capital by SAR 5 million through bonus shares of one-for-every-five shares. The capital will stand at SAR …
The trading suspension has taken place for one session
12 July 03:46 PM Trading on AlAhli Takaful, Arabian Shield suspended – Tadawul
Riyadh – Mubasher: The Saudi Exchange (Tadawul) announced suspending trading on the stocks of both AlAhli Takaful Company and Arabian Shield Cooperative Insurance. The trading suspension has taken place for one session on Monday, 12 July, upon the …
Lopez has 30-year experience in the financial sector
12 July 03:21 PM Mashreq Bank appoints senior executive vice president, group head of retail banking
Dubai – Mubasher: Mashreq Bank has appointed Fernando Morillo Lopez as its new senior executive vice president and group head of retail banking. Lopez will manage the bank's strategy for the retail banking group (RBG), including its personal …
Fluctuation limit will be based on a share price of SAR 24.12
11 July 05:32 PM Alhokair Group’s shareholders approve changes to capital; fluctuation limit announced
Riyadh – Mubasher: The shareholders of Abdulmohsen Alhokair Group for Tourism and Development gave the green light for reducing the capital to offset accumulated losses then increasing it to raise solvency and lower borrowing rates. Alhokair Group …
Joa Capital offers seed and growth capital to select startups
11 July 04:40 PM Saudi CMA licenses Joa Capital
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has licensed venture capital firm Joa Capital Company to conduct managing investment activity in the securities business. This marked the completion of business requirements to operate in …
The amount will be reduced from the total accumulated losses of SAR 137,015
11 July 03:50 PM United Cooperative obtains SAMA’s nod to reduce accumulated losses
Riyadh – Mubasher: United Cooperative Assurance Company has received the Saudi Central Bank’s (SAMA) approval to offset part of its accumulated losses by SAR 31,944 from the statutory reserve. This amount will be reduced from the total accumulated …
Both Al Anzi and Khashoggi will assume their positions until 2023
11 July 01:02 PM Thimar appoints Chairman, Vice Chairman
Riyadh – Mubasher: National Agricultural Marketing Company (Thimar) has appointed Abdullah bin Odeh Al Anzi as the Chairman of the board for the term starting 4 July 2021. The company appointed Khalid bin Assad Khashoggi as the Vice Chairman of …
Fitaihi Holding’s will stand at SAR 275 million
8 July 12:12 PM Fitaihi Holding’s shareholders nod to SAR 275m capital decrease
Riyadh – Mubasher: The shareholders of Fitaihi Holding Group gave the green light for the board’s recommendation to reduce the capital by 50% or SAR 275 million. The company will write off 27.5 million shares at a par value of SAR 10 each by …
Chemanol succeeded to shrink its accumulated losses after reducing the capital
8 July 09:36 AM Chemanol announces decrease of accumulated losses
Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) announced that its accumulated losses have decreased to represent 0% of the capital as on 28 June 2021. Chemanol succeeded to shrink its accumulated losses after reducing the capital by SAR …
Al Khodari aims to offset the accumulated losses to be less than 50% of the capital
7 July 01:05 PM Al Khodari announces changes in capital on court’s nod
Riyadh – Mubasher: The Commercial Court of Dammam approved for Abdullah Abdul Mohsin Al Khodari Sons Company (Al Khodari) to covert SAR 1.25 billion of creditors’ debts into shares at a value of SAR 10 each. The capital will therefore stand at SAR …
GO intends to increase the financial solvency of the company
6 July 10:56 AM GO to consider capital restructuring to reduce accumulated losses
Riyadh – Mubasher: The board of Etihad Atheeb Telecommunication Company (GO) has authorised the executive management to study ways to restructure the company’s capital through a cut and subsequent increase to shrink the accumulated losses. GO has …
The regulations will also enable DIFC to boost innovation
6 July 10:17 AM DIFC enacts new Intellectual Property Regulations
UAE - Mubasher: Dubai International Financial Centre (DIFC) has enacted new Intellectual Property Regulations (IP Regulations), which will be effective from 5 July 2021. Introducing new regulations, issued under the Intellectual Property Law, DIFC …
Piaia is a well-known executive in the tourism and development sector
6 July 10:12 AM Emaar The Economic City names Piaia as CEO
Riyadh – Mubasher: Emaar The Economic City has appointed Cyril Piaia as the new CEO of the company, following the board’s resolution on 5 July. The new CEO will assume the position starting 1 September 2021, according to a bourse filing on …
Both Al Saud and Al Sulaiman will assume their positions until June 2024
5 July 10:46 AM Kingdom Holding appoints Chairman, Vice Chairman
Riyadh – Mubasher: Kingdom Holding Company has appointed Prince Al Waleed bin Talal bin Abdulaziz Al Saud as the Chairman of the board for the coming three years. The listed firm also appointed Lama Abdulaziz Al Sulaiman as the Vice Chairman of …