The bank’s board has approved the issuance of a Tier 2 instrument worth up to $900 million and a $300 million Tier 1 capital increase.
Integrated Diagnostics Holdings priced its offering of 65.2 million shares at an $4.45 per ordinary share.
The bank made a net profit attributable to equity holders of $40 million in the three months ending March 31.
However, officials did not give any time frame for VAT to be introduced or specify the likely tax rate.
Steve Bertamini has been appointed chief executive effective from May 18, the lender said in a bourse statement.
So far, MSCI only had provisional indexes covering the $570 billion Saudi stock market, which is set to open to foreign investors in June.
Capital raised from the IPO will be used to expand the company’s waste management and mass accommodation services for workers on construction projects.
Saudi consumer prices rose two per cent from a year earlier in March.
The airline’s Chairman and CEO Sheikh Ahmed bin Saeed al-Maktoum said lower oil prices had saved Emirates around Dhs2 billion during the financial year.
In total, shares worth OMR53.28 million were bid for under the capital increase, which saw 228.8 million new shares sold to investors.
It did not provide any details such as a timeline or a potential sale price of the unit.
Jadwa, Saudi’s largest private investment firm, expects inflows to reach between $40 billion and $50 billion in the medium to long term.
Saudi Ground Services Co, a unit of national carrier Saudi Arabian Airlines, plans to sell 30 per cent of its shares.
Tabreed said the bond buyback will be financed through a new loan it secured during a debt refinancing last year.
Partnerships with governments have helped the company boost card numbers in the region, a senior official said.
Both individuals are traders of CME Group Inc’s gold and silver futures contracts on its Comex exchange in New York.
Saudi Arabia’s fourth-largest lender by assets, plans to issue 4 billion riyals ($1.07 billion) of bonds.
Adel al-Ghamdi said he believed 10 companies might be possible candidates for privatisation
Sources told Reuters last month that the firm could raise between $750 million and $1 billion from the senior unsecured Reg S/Rule 144A issue.
A single foreign investor will be able to hold no more than 5 per cent of any listed company, while total foreign ownership of a firm will be limited to 20 per cent.
The budget assumed an oil price of $60 a barrel, forecasting a budget deficit of about BD1.47 billion for 2015.
Burgan made a net profit of KD17.54 million ($58.2 million) in the first quarter of 2015.
The deal will help Abyat expand into the wider Gulf region, with Al Muhaidib Group benefiting from an increased presence in the sector.
ADIB made a net profit of Dhs450.8 million ($122.8 million) in the first quarter of 2015.
The firm is looking for what bankers termed “incremental finance”, sources said.
Lower oil prices had only a minor impact on UAE credit conditions, with no effect on demand for business loans or credit standards, a new survey shows.
Brent crude hit a new 2015 high of $66.93 per barrel on Thursday before easing slightly on Friday.
Currently, a fixing is scheduled for every day other than Friday.
Net profit in the three months to March 31 was KD12 million.
The investment will produce an average semi-annual cash return of 12 per cent, GFH said.