In a statement, the company said that Awad Farouk Al-Desouki is no longer CEO at Saudi Fisheries, effective from 15 April 2024
The Saudi Exchange played a pivotal role in facilitating more than SAR11.9bn ($3.2bn) raised through IPOs on the Main Market in 2023
The IPO involved the offering of 24,549,600 shares, constituting 30 per cent of the company’s issued share capital
The GCC region is set to see more equity capital markets activity in 2024 as more companies are considering public listings amid a global slowdown
The IPO will offer 120,000,000 shares, representing 30 per cent of SMASCO’s total issued share capital
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Shares in regional broadcaster MBC Group soared 30 per cent on its debut on Saudi Arabia’s Tadawul stock exchange on Monday
These indices will serve as reference points for various investment products, aiding institutional investors in monitoring the performance of market segments
The offering will consist of 338.7 million shares, which will include the issuance of 237.1 million new shares through a capital increase
Saudi Arabia dominated the region in terms of the number of listings, with four listings on the Tadawul’s main market raising $0.8bn
The Luberef IPO marks the firm’s eighth private equity exit, and at SAR5bn the offering brings Jadwa’s aggregate private equity distributions to clients to SAR11bn
This step further enhances the Saudi Exchange’s appeal as an investment destination for investors and issuers, regionally and internationally
The Middle East is having a banner year for IPOs on the back of high oil prices, investor inflows and strong demand for share sales
The index will track the performance of companies listed as Shariah-compliant on the Saudi stock exchange
EFG Hermes has advised on other landmark listings such as ACWA Power’s offering on Tadawul and ADNOC Drilling’s milestone IPO on ADX
The initial public offering’s price range has been set at SAR65-SAR73
Tadawul set the price at SAR105 per share after an institutional book-building process
The offering could value it at between $3bn and $4bn
The listing is one of the largest offerings in the kingdom since Saudi Aramco’s IPO in 2019
ACWA Power is now valued at $14.2bn, making it one of the biggest listed companies in Riyadh
An IPO of Tadawul has been on the cards since at least 2016
The move widens the services Standard Chartered can offer in the country
SABIC hasn’t decided on a venue for the sale
The decision, taken by the Capital Market Authority, takes effect from January 1, 2021
Starting November 8, newly listed stocks will be allowed to rise or fall 30 per cent on their first three days of trading
Aramco will pay a dividend of $18.75bn for the quarter
The stock exchange is planning to complete its own share sale within the next 24 months
The offering will comprise of 27,180,000 ordinary shares
Globally, 235 IPOs raised $28.5bn in Q1 2020, compared to $15.1bn in Q1 2019
The kingdom needs an oil price of $84 to balance this year’s budget