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ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Al-Ittefaq plans an IPO

The company said the subscription study and preparation for the regulatory requirements may last until 2023. (Linkedin)
  • The value of the company is estimated at over $2 billion
  • A deal with the financial adviser to manage the company’s initial public offering is expected soon

Riyadh, Saudi Arabia— Al-Ittefaq Steel Products Co. is looking at an initial public offering, to be listed on Tadawul.

Jassim Al-Abbas, general manager of business development, sales and marketing, told Argaam the company is intending to offer part of its shares for public subscription on Saudi Arabia’s main market.

The value of the company is estimated at over $2 billion he said, adding that Hilal Al-Tuwairqi owns around 60 percent of the firm’s capital, while the remaining 40 percent is held by other investors.

A deal with the financial adviser to manage the company’s initial public offering is expected soon, the executive said, adding that the subscription study and preparation for the regulatory requirements may last until 2023.