Company Insights SNB Capital Banking & Finance SNB Capital News Markets MBC raises $390m with oversubscribed IPO Saudi media company MBC Group’s IPO on the Saudi stock exchange was 17.6 times oversubscribed, raising SAR1.46 billion ($390 million). A minimum of nine shares were allocated to each subscriber and the remaining shares were distributed pro rata, according to a statement on stock market website Tadawul by lead manager and advisor HSBC Saudi Arabia, […] December 22, 2023 Finance PIF’s Saudi Real Estate issues $933m sukuk Sukuk worth SAR3.5 billion ($933.17 million) to expand funding in Saudi Arabia’s real estate sector has been issued by the Saudi Real Estate Refinance Company. The offering from the company, which is wholly owned by the kingdom’s Public Investment Fund, makes up the final two tranches under its SAR20 billion government-guaranteed sukuk programme. The issuance […] November 23, 2023 Media & Advertising Saudi media company MBC Group to float 10% in IPO Saudi media major MBC Group plans to launch an initial public offering (IPO) on the Saudi Exchange (Tadawul). The announcement comes after the Capital Market Authority (CMA) approved the company’s plan to offer 33.25 million ordinary shares, representing 10 percent of its share capital. The offering price will be determined at the end of the […] November 22, 2023 Finance Saudi Arabia issues $9.6bn sukuk Saudi Arabia has issued new local currency sukuk worth SAR35.9 billion ($9.57 billion) after completing the early purchase of some of its SAR35.7 billion existing sukuk, the National Debt Management Center (NDMC) said. The sukuk redeemed early were set to mature in 2024, 2025 and 2026, state-run SPA reported, citing NDMC. The new issues were […] August 14, 2023 Transport SNB Capital invests $100m in South Korean EV battery maker Saudi asset manager SNB Capital has bought a $100 million stake in South Korean electric vehicle (EV) battery manufacturer SK On, it announced on Tuesday. The investment was made through SNB Capital EV Batteries, a sharia-compliant fund which aims for attractive returns related to the growing global demand for EVs. SK On is one of […] July 11, 2023 Markets Saudi’s first privatised mill to offer 30% stake in IPO First Milling Company, the first mill to be privatised in Saudi Arabia, is planning to launch an initial public offering (IPO) on the Saudi Exchange (Tadawul). The company will offload 16.65 million shares, resulting in a free float of 30 percent of the flour milling company’s share capital, it said in an IPO document. The […] May 18, 2023 Banking & Finance PIF-backed Saudi Electricity plans sale of dollar sukuk Saudi Electricity Company is planning to issue a green or conventional sukuk (Islamic bonds) denominated in US dollars. The banks will hold meetings with fixed-income investors starting Friday (March 31), the company said in a statement to the Saudi bourse. The issuance amount will be determined later based on market conditions and requirements. The company […] March 31, 2023 EXCLUSIVE Banking & Finance BNY Mellon reports 245% rise in net flows into GCC equities BNY Mellon clients’ net investments in GCC shares rocketed by 245 percent from 2019 through to the end of 2022, America’s oldest bank told AGBI. Over this three-year period, the bank’s clients have poured $1.2 billion into Gulf equities, “outpacing emerging developed markets and the Eurozone significantly”. The New York-headquartered bank did not supply yearly […] March 13, 2023 Energy Arabian Drilling plans to list 30% of shares on Saudi exchange Saudi Arabia-based oil and gas drilling contractor Arabian Drilling is planning an initial public offering (IPO) on the kingdom’s main exchange. The offer consists of a secondary offering of 19.89 percent of the company’s total share capital through the sale of 17.70 million shares and a primary offering of 10.11 percent via the issuance of […] September 19, 2022 Posts navigation Previous 1 2 3
Markets MBC raises $390m with oversubscribed IPO Saudi media company MBC Group’s IPO on the Saudi stock exchange was 17.6 times oversubscribed, raising SAR1.46 billion ($390 million). A minimum of nine shares were allocated to each subscriber and the remaining shares were distributed pro rata, according to a statement on stock market website Tadawul by lead manager and advisor HSBC Saudi Arabia, […] December 22, 2023
Finance PIF’s Saudi Real Estate issues $933m sukuk Sukuk worth SAR3.5 billion ($933.17 million) to expand funding in Saudi Arabia’s real estate sector has been issued by the Saudi Real Estate Refinance Company. The offering from the company, which is wholly owned by the kingdom’s Public Investment Fund, makes up the final two tranches under its SAR20 billion government-guaranteed sukuk programme. The issuance […] November 23, 2023
Media & Advertising Saudi media company MBC Group to float 10% in IPO Saudi media major MBC Group plans to launch an initial public offering (IPO) on the Saudi Exchange (Tadawul). The announcement comes after the Capital Market Authority (CMA) approved the company’s plan to offer 33.25 million ordinary shares, representing 10 percent of its share capital. The offering price will be determined at the end of the […] November 22, 2023
Finance Saudi Arabia issues $9.6bn sukuk Saudi Arabia has issued new local currency sukuk worth SAR35.9 billion ($9.57 billion) after completing the early purchase of some of its SAR35.7 billion existing sukuk, the National Debt Management Center (NDMC) said. The sukuk redeemed early were set to mature in 2024, 2025 and 2026, state-run SPA reported, citing NDMC. The new issues were […] August 14, 2023
Transport SNB Capital invests $100m in South Korean EV battery maker Saudi asset manager SNB Capital has bought a $100 million stake in South Korean electric vehicle (EV) battery manufacturer SK On, it announced on Tuesday. The investment was made through SNB Capital EV Batteries, a sharia-compliant fund which aims for attractive returns related to the growing global demand for EVs. SK On is one of […] July 11, 2023
Markets Saudi’s first privatised mill to offer 30% stake in IPO First Milling Company, the first mill to be privatised in Saudi Arabia, is planning to launch an initial public offering (IPO) on the Saudi Exchange (Tadawul). The company will offload 16.65 million shares, resulting in a free float of 30 percent of the flour milling company’s share capital, it said in an IPO document. The […] May 18, 2023
Banking & Finance PIF-backed Saudi Electricity plans sale of dollar sukuk Saudi Electricity Company is planning to issue a green or conventional sukuk (Islamic bonds) denominated in US dollars. The banks will hold meetings with fixed-income investors starting Friday (March 31), the company said in a statement to the Saudi bourse. The issuance amount will be determined later based on market conditions and requirements. The company […] March 31, 2023
EXCLUSIVE Banking & Finance BNY Mellon reports 245% rise in net flows into GCC equities BNY Mellon clients’ net investments in GCC shares rocketed by 245 percent from 2019 through to the end of 2022, America’s oldest bank told AGBI. Over this three-year period, the bank’s clients have poured $1.2 billion into Gulf equities, “outpacing emerging developed markets and the Eurozone significantly”. The New York-headquartered bank did not supply yearly […] March 13, 2023
Energy Arabian Drilling plans to list 30% of shares on Saudi exchange Saudi Arabia-based oil and gas drilling contractor Arabian Drilling is planning an initial public offering (IPO) on the kingdom’s main exchange. The offer consists of a secondary offering of 19.89 percent of the company’s total share capital through the sale of 17.70 million shares and a primary offering of 10.11 percent via the issuance of […] September 19, 2022
