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Arabian Drilling to pay $60m dividend
The firm said the total dividend for 2023 will be S120 million.
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EIC to pay $22m dividend
The company's board had decided 15% cash dividend for H2 2023. -
Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified investors inside and outside Saudi Arabia. The amount and terms of offer of the sukuk will be determined subject to market conditions, the bank said in a statement to Tadawul. This announcement... -
Saudi stock market hits 12,500 points, highest since August 2020
Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its highest level since August 2020. The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes. The gains... -
Kuwait leads GCC market gains amid regional tensions
Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse impacts on regional markets. -
UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both state-owned and private offerings. -
Retail investors on Tadawul rise to 6.05 million in third quarter 2023
Riyadh, Saudi Arabia -- The number of individual investors on the Saudi Exchange (Tadawul) reached 6.05 million by the end of Q3 2023, an increase of 117,000 compared with the previous quarter. Argaam reported that the number of male investors reached 4.48 million in Q3 2023, while the number of... -
UAE, Saudi Arabia lift up Arab stock markets, post US$493bn in gains in 2023
Abu Dhabi, UAE-- Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion, propelled by strong performances in the UAE and Saudi Arabia. The UAE led the charge, adding $117.5 billion to its market value, reaching $990.6 billion by the end of last... -
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations. -
BCI’s subsidiary secures US$100m loan from SIDF
RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi Industrial Development Fund (SIDF) to finance its project in Jubail Industrial City. The US$100 million (SAR 376 million) loan, secured on Sunday, has a duration of seven years and three... -
Tawzea, NWC ink pacts
The companies have signed two agreements. -
SNB Capital ignites Saudi derivatives revolution
SNB Capital's Single Stock Options debut marks a leap forward, enhancing liquidity and expanding investor choices. -
Al Rajhi Bank appoints Abdullah Al Rajhi as chairman
RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as chairman of the board of directors. The bank said in a regulatory filing on the Tadawul that it also named Ibrahim bin Mohammed Al Romaih as vice chairman. Al Rajhi... -
ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy
RIYADH, SAUDI ARABIA – ACWA Power Co said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority (DEWA) for phase two of concentrated solar power (CSP) Parabolic Trough (PT) 200 megawatts (MW) unit of Noor Energy 1, taking total capacity under operation to 717 MW. The second phase is part of a 950 MW solar CSP independent... -
TASI-listed firms report an aggregate net profit of $48.1bn in Q3 Â Â
RIYADH, SAUDI ARABIA - Tadawul-listed companies reported a US$48.1 billion (SAR 157.09 billion) aggregate net profit for the third quarter of 2023, a decline of 19 percent from US$52.2 billion (SAR 194.75 billion) in the year-ago period. This was also due to the decline of Aramco’s Q3 profit by more... -
Saudi Exchange to launch Single Stock Options contracts
Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts, the third derivatives product to be introduced in the Saudi Exchange. SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and... -
GFH Capital mulls listing on Saudi market, says CEO
RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH Group's plans are unchanged with regard to listing in other markets, CEO Razi Al Murbati said. The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and... -
UAE, Saudi stock exchanges surpass Arab peers with $167bn in gains
Abu Dhabi, UAE -- The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges during the third quarter of the current year, after achieving market profits of nearly $167 billion, according to the Arab Monetary Fund. The Fund, in its quarterly bulletin on Arab... -
Tadawul’s sukuk, bonds market sees $3.4bn negotiated deals in first 9 months of 2023
RIYADH, SAUDI ARABIA – The Saudi Exchange's (Tadawul) sukuk and bonds market witnessed 74 negotiated deals worth nearly SAR 12.77 billion in the first nine months of 2023. March recorded the highest number and value of deals, as 18 transactions were executed at a total value of US$853 million. KSA... -
Aramco, Cenomi see 4 negotiated deals
The $32.81 million deals were registered by Tadawul. -
PIF-backed oil driller ADES International Holding announces IPO
Riyadh, Saudi Arabia -- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF, has announced its intention to go public and list its shares on Saudi stock exchange (Tadawul), with the planned Initial Public Offering expected to reportedly fetch more than $1 billion.... -
Market capital in Arab bourses $4.5 trillion, says Arab Monetary Fund
Kuwait City, Kuwait -- The Arab Monetary Fund has said that the market capital in Arab bourses reached US$4.5 trillion at the end of last week's trade, climbing by 1.2 percent.The fund's weekly report said the market capital of BouKuwait amounted to US$137.5 billion, that of the Abu Dhabi stock... -
SAB sees $26m negotiated deal
The deal does not directly impact the last deal price. -
Al Rajhi Bank’s profit dips marginally
The decline was attributed to decrease in total operating income. -
Bank Albilad H1 profit up 14%
The H1 profit reached SAR 1.14bn ($303m) and Q2 profit SAR 585.9m. -
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars. -
ACWA Power okays dividend
The shareholders approved to distribute an 8.3% dividend. -
Jamjoom Tadawul debut on Jun 20
Jamjoon Pharma IPO was launched on May 25 at SAR 60 per share. -
Bupa renews contract with SABIC
It will provide health insurance to SABIC staff and their families. -
Foreign non-institutional investors’ ownership in Saudi equities up
Dubai, UAE -- Non-institutional foreign investors increased their ownership in Tadawul-listed equities, excluding Saudi Aramco, to SAR 310.80 billion ($82.87 billion), in the week that ended on June 1, Argaam reported. The ownership of non-institutional foreign investors is represented by swap agreements, residents, and qualified foreign investors (QFIs). However, it... -
Saudi Arabia’s RVCMC to hold biggest carbon credit auction in Nairobi
The event on Jun 14 aims to sell more than 2 million tons of high-quality CORSIA carbon credits registered with Verra, which manages a variety of carbon offset programs, including the Verified Carbon Standard. More than 15 companies from Saudi Arabia and other countries will participate in the auction. -
First Mills IPO price SAR60 per share
This implies a market capitalization of $888 million. -
Yanbu Cement to pay $62.93m in dividends
The cash dividend of SAR1.50 per share will be paid for H1 2023. -
East Pipes net profit $26.63m
The company had posted a loss of 3.2 million riyals the previous year. -
Tadawul-listed firms report 22% drop in first quarter net profit
Dubai, UAE -- A 22 percent drop in net profit was reported by Tadawul-listed companies in the first quarter of 2023, from SAR 186.24 billion ($49.66 billion) in the same quarter in 2022 to SAR 145.72 billion this year. Argaam reported the decline in net profit was due to a... -
Savola to pay $93m in dividends
The date of distribution will be announced later. -
Tadawul market cap vaults 477% to US$2.6trn over last 5 years: CMA
Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion during the last five years. According to Yazid Al-Dumaiji, the Capital Market Authority’s (CMA) Undersecretary for Strategic and International Affairs, the exchange takes the ninth place among the world’s stock... -
stc to sell stake in CCC
stc had in Jan signed sale and purchase pact with solutions. -
Americana net income up 27.1%
This was company's first financial result since dual listing. -
Saudi Steel Pipe’s profit up
Its profit shot up more than 5,000% to $14.45m in 2022. -
Boursa Kuwait, Tadawul sign pact
The deal is expected to boost capital markets in the region. -
Saudi Aramco subsidiary Luberef expects to raise $1.32 bn from IPO
Dubai, UAE---Luberef, a subsidiary of Saudi oil giant Aramco, expects to raise up to SAR 4.95 billion ($1.32 billion) from its Initial Public Offering (IPO), the company said. The company will sell nearly 30 percent of its share capital to individual and institutional investors, which translates into 50.045 million shares,... -
Saudi, UAE equities tank as global crude prices slide
The equities had a lackluster week owing to a decline in global crude oil prices amid fears that the surge in Covid-19 infections in China, the largest oil importer, will reduce demand. -
PIF sells 10 percent stake in Tadawul Group at $51 per share
The offering size was SAR 2.3 billion ($611 million), making it the second largest Accelerated Bookbuild Offering to ever take place in the Saudi market and the GCC region. It sold 12 million shares and its remaining stake is equivalent to 72 million shares or 60 percent of the Company's... -
PIF to sell Tadawul stake
It will sell 10% of its stake, amounting to 12m shares. -
UAE equities climb up while Saudi index drops
Propelled by sectors like telecommunications and utilities, the UAE stock exchanges posted gains this week, even as the Saudi equities took a tumble, pulled down by investment and finance. -
Americana to sell 30% stake in IPO
The company will list on ADX and Saudi Tadawul by Dec. 6. -
Banque Saudi Fransi net profit up 15%
The bank’s profit for the nine-month period peaked at $719m. -
Foreign firms can now get approval for dual listing on Tadawul
Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to Tadawul’s CEO. Mohammed Al-Rumaih told media that companies need finance to expand in particular industries, noting that the capital market aims to be the first partner to provide finance for... -
CMA approves 18 listings on Tadawul
Tadawul is also developing a market marker for the bourse. -
Tadawul market cap vaults
Its value is $2.8trn in the first nine months of the year.