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Company News, Business

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

SEC to raise $2bn from sukuk

Gross profit for the period reached $4.16 billion.
By Hilal Mir
April 4, 2023 6:59 pm
  • The firm offered a total of 10,000 bonds in the 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million.
  • The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.

Dubai, UAE — Saudi Electricity Company has wrapped up the $2-billion dollar-denominated green and conventional sukuk.

The company, majority owned by the kingdom’s sovereign wealth fund, PIF, Monday announced a 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million, offering a total of 10,000 bonds for a fixed profit rate of 4.6 percent for the 10-year tranche and 5.6 percent for the 30-year tranche.

The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.

In a Tadwaul disclosure, SEC said the issuance will be listed on the London Stock Exchange.

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