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23 June 10:47 PM

Stocks News

UAE’s Depa Limited to carry out SAR 82m transport project in Saudi Arabia
20 June 05:19 PM UAE’s Depa Limited to carry out SAR 82m transport project in Saudi Arabia
Mubasher: UAE-based Depa Interiors has announced that its subsidiary, Depa Limited, won a SAR 81.9 million (more than AED 80 million) contract to implement a large transport project in Saudi Arabia. The deal is considered Depa Limited’s second …
Corporate Actions
The capital reduction aims at amortising accumulated losses
11 June 10:34 AM Saudi Enaya OKs 50% capital cut
Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company (Enaya) on Monday announced that its shareholders had approved the board’s recommendation to trim capital by 50% during an extraordinary general meeting (EGM) held the previous day. …
Management Decisions
Both parties are in talks with Saudi regulators
10 June 05:10 PM Shuaa Capital inks MoU to expand in Saudi Arabia
Dubai - Mubasher: Shuaa Capital and National Bonds signed a memorandum of understanding (MoU) to create a joint venture (JV) in Saudi Arabia and inject investments into the kingdom. The collaboration between the financial service firm National …
Companies Investments
GOSI unit to sell stake in National Medical Care to NMC Saudi Arabia
10 June 11:55 AM GOSI unit to sell stake in National Medical Care to NMC Saudi Arabia
Riyadh – Mubasher: The National Medical Care Company on Sunday revealed that Hassana Investment Company, a subsidiary of the General Organization for Social Insurance (GOSI), is planning to sell its stake in the company to NMC Saudi Arabia …
Companies Investments
eXtra’s capital will grow to SAR 500 million
10 June 10:50 AM eXtra’s board proposes 19.05% capital hike
Riyadh – Mubasher: The board members of United Electronics Co (eXtra) has recommended on 7 June an increase of 19.05% in capital through issuing bonus shares, according to a bourse statement on the Saudi Stock Exchange (Tadawul). Following the …
Board of Directors
Sahara Petrochemicals gets SAR 450m loan
10 June 10:36 AM Sahara Petrochemicals gets SAR 450m loan
Riyadh – Mubasher: Sahara Petrochemicals on Sunday announced signing an agreement for an SAR 450 million ($120 million) loan with Alrajhi Bank. The one-year facility, which extends from 7 June 2018 until 7 June 2019, will be used to finance …
Banking and Finance
SAFCO's board has recommended a cash dividend of SAR 416.7 million for H1-18
10 June 09:34 AM SAFCO recommends SAR 416.7m dividends for H1
Riyadh – Mubasher: The Saudi Arabian Fertilizer Company’s (SAFCO) board of directors has recommended a cash dividend to shareholders for the first six months of 2018. The distribution will involve SAR 1 per share for a total of 416.666 million …
Cash Dividends
The capital cut accounts for 18.37% of the company’s capital
10 June 09:09 AM United Cooperative Assurance EGM nods to capital cut
Riyadh – Mubasher: The extraordinary general meeting (EGM) of United Cooperative Assurance Co has approved to decrease its capital to SAR 400 million from SAR 490 million that will be distributed over 40 million shares. The capital cut accounts …
Corporate Actions
The facility will be allocated to repay the Murbaha deal which was signed on 4 September 2014
7 June 11:49 AM Fawaz Abdulaziz Alhokair obtains SAR 1.25bn Murabaha facility
Riyadh – Mubasher: Saudi Arabia-based Fawaz Abdulaziz Al Hokair Company has signed a seven-year agreement with some domestic and regional banks to obtain a Murabaha loan at a value of SAR 1.25 billion ($333 million). The facility will be allocated …
Banking and Finance
Photo Archive
6 June 04:47 PM SPIMACO sells 2.6 million Yansab shares
Riyadh - Mubasher: Saudi Pharmaceutical Industries and Medical Appliances (SPIMACO) has announced selling 2.6 million shares in Yanbu National Petrochemicals (Yansab). SPIMACO said in a statement on Wednesday that the transaction was carried out …
Trading Activities
HSBC has been authorised to arrange the coming bond issue
6 June 10:23 AM SABIC in talks with banks for potential bond issue
Riyadh – Mubasher: The Saudi Basic Industries Corporation (SABIC) is in conversations with a number of banks for a potential dollar-denominated bond sale, banking sources have said. HSBC has been authorised to arrange the coming bond issue, …
Bonds
The capital will increase to SAR 1 billion, from SAR 500 million
4 June 10:48 AM Saudi Mouwasat Medical OKs capital hike via bonus shares
Riyadh – Mubasher: Mouwasat Medical Services on Monday announced that its shareholders had approved to raise capital by 100% through bonus shares during an extraordinary general meeting (EGM) held the previous day. The capital will increase to SAR …
Management Decisions
The OGM also endorsed audited financial statements
3 June 12:11 PM GASCO OKs moving SAR 20m to retained earnings
Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) on Sunday announced that its shareholders had approved transferring SAR 20 million from the statutory deposit to retained earnings account during an ordinary general meeting …
Corporate Actions
GACO inks deal to establish dried dates unit
3 June 10:55 AM GACO inks deal to establish dried dates unit
Riyadh – Mubasher: Al Gassim Investment Holding Company (GACO) has signed a memorandum of understanding (MoU) to establish a new company specialised in the manufacturing and marketing of dried dates. The new company, in which GACO will be the …
Companies Investments
Saudi Al Akaria has signed an SAR 650 million loan with Riyad Bank
3 June 08:25 AM Saudi Al Akaria inks SAR 650m loan with Riyad Bank
Riyadh – Mubasher: Saudi Real Estate (Al Akaria) on Sunday announced signing an Islamic long-term loan with Riyad Bank worth SAR 650 million. The deal, signed on Thursday, 31 May, will extend for a duration of seven years, effective on the day the …
Companies Investments
Musharaka REIT Fund secures SAR 400m facility from Al Rajhi Bank
31 May 11:57 AM Musharaka REIT Fund secures SAR 400m facility from Al Rajhi Bank
Riyadh – Mubasher: Musharaka REIT Fund has announced signing an agreement with Al Rajhi Bank to obtain an SAR 400 million loan with +1.85% SIBOR cost for six months. The seven-year facility will be compliant with the Islamic sharia, according to a …
Real estate
Moody's assigns A3 IFSR rating to Chubb Arabia Cooperative Insurance Co; outlook stable
30 May 01:53 PM Moody's assigns A3 IFSR rating to Chubb Arabia Cooperative Insurance Co; outlook stable
Riyadh – Mubasher: Moody’s Investors Services has assigned A3 insurance financial strength rating (IFSR) rating to Chubb Arabia Cooperative Insurance Company, with ‘stable’ outlook. Saudi Arabia-based Chubb Arabia Cooperative Insurance Co is a …
Ratings
Al Tayyar noted that it had financed the loan repayments from its self-financing sources
30 May 10:45 AM Al Tayyar repays SAR 800m tranches of long, short-term loans
Riyadh – Mubasher: Saudi Arabia-based Al Tayyar Travel Group has repaid some tranches of its long-term loans which worth SAR 307 million. The tranches of the SAR 307 million loans mature in 2019, 2020, and in the first half of 2021. The Kingdom's …
Corporate Actions
Alsakkaf will receive his new position on Friday
30 May 10:20 AM Saudi NCB names Alsakkaf as new CEO
Riyadh – Mubasher: Saudi Arabia-based National Commercial Bank (NCB) on Wednesday announced that its board of directors had approved appointing Faisal Alsakkaf as the CEO for the bank during a meeting held the previous day. Alsakkaf will receive …
Board of Directors
ABK has acquired Piraeus Bank Egypt in 2015
29 May 01:57 PM ABK considers acquisitions in GCC – CEO
Mubasher: Al Ahli Bank of Kuwait (ABK) is currently mulling over acquisition deals in the Gulf area to endorse its revenues from international operations, CEO Michel Accad said in an interview with Bloomberg. “We can consider anything at the right …
Corporate Actions
Al-Khodari’s capital will increase to SAR 1.02 billion
29 May 10:22 AM Saudi CMA nods to Al-Khodari capital hike via debt conversion
Riyadh – Mubasher: Saudi Capital Market Authority (CMA) has approved raising capital of Abdullah A. M. Al-Khodari Sons Company through debt conversion. Al-Khodari’s capital will increase to SAR 1.02 billion, from SAR 557.81 million, according to …
Management Decisions
Al Hammadi unit inked an SAR 125 million loan with Samba
28 May 05:29 PM Al Hammadi unit inks SAR 125m loan with Samba
Riyadh – Mubasher: Al Hammadi Company for Development and Investment on Monday announced that one of its subsidiaries has signed an Islamic Financing Facilities Agreement with Samba Financial Group. Pharma Serve, which signed the deal, is a …
Companies Investments
MCDC’s operating profits dropped 17.24% to SAR 48 million
28 May 05:17 PM Makkah Construction & Development posts SAR 47m net profit in Q1
Riyadh – Mubasher: Makkah Construction and Development Company (MCDC) reported a 16.07% year-on-year decline in its net profit during the first quarter of the fiscal Hijri year 1439/1440, registering SAR 47 million. MCDC’s operating profits …
Real estate
TMG Holding will carry on the project's studies
28 May 12:25 PM TMG Holding denies halting talks with Saudi gov’t over housing project
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) on Monday has denied suspending negotiations with the Saudi Arabian housing ministry regarding a housing project in the Kingdom. The Egyptian property developer will carry on the …
Companies Investments
The deal was signed on Sunday
28 May 11:25 AM Saudi Batic acquires SAR 200m real estate assets
Riyadh – Mubasher: Saudi Arabia-based Batic Investments and Logistics Co has signed a final agreement to take over real estate assets and land plots at an initial combined value of SAR 200 million ($53.3 million). The deal was signed on Sunday, 27 …
Mergers and Acquisitions