Fakeeh Care retracts recommendation to repurchase shares due to regulatory reasons
In a statement to Tadawul, the company said the decision was made to avoid reducing public ownership below the minimum regulatory threshold.
Fakeeh Care affirmed its continued commitment to full compliance with applicable laws and regulations.
The number of shares proposed for repurchase represented approximately 0.45% of the company's total outstanding shares, which amount to 232 million shares, with a nominal value of SAR 1 per share.
The company's board of directors recommended on April 9 the repurchase of up to 1.04 million of its ordinary shares to be retained as treasury shares, Argaam data showed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
9 hours ago
- Arab News
Closing Bell: Saudi main index closes in red at 10,770
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, shedding 21.98 points, or 0.20 percent, to close at 10,769.66. The total trading turnover on the main index reached SR4.08 billion ($1.09 billion), with 94 stocks advancing and 159 declining. The Kingdom's parallel market Nomu also fell, losing 91.69 points to close at 26,144.11, while the MSCI Tadawul Index edged down 0.26 percent to 1,391.13. The best-performing stock on the main market was Red Sea International Co., whose share price jumped 9.96 percent to SR45.72. BAAN Holding Group Co. rose 4.98 percent to SR2.32, while Astra Industrial Group gained 4.71 percent to SR149. The share price of Methanol Chemicals Co. dropped by 9.92 percent to SR10.62. On the announcements front, Saudi Electricity Co. reported a net profit attributable to common shares of SR1.86 billion after deducting profit attributable to Mudaraba instruments for the second quarter, up 113 percent from SR0.87 billion a year earlier. The company's net profit before Mudaraba payments stood at SR6.25 billion, compared to SR5.24 billion in the same quarter of 2024, reflecting a 19.26 percent increase. The utility's share price slipped 0.61 percent to SR14.61. First Milling Co. announced it had completed the acquisition of a 100 percent stake in Jeddah-based Al Manar Feed Co. in a deal valued at SR77 million. In a Tadawul filing, the company said the acquisition aligns with its strategy to boost feed production capacity. With the purchase, First Milling Co. will add a daily production capacity of 450 tonnes in the feed segment, bringing its total feed output to 1,350 tonnes per day. The company's share price rose 0.28 percent to SR53.20.
Argaam
16 hours ago
- Argaam
Trading halt placed on SIDC shares on non-disclosure of financials
The Saudi Exchange (Tadawul) announced placing a trading halt on shares of Saudi Industrial Development Co. (SIDC) today, Aug. 12 as the company failed to disclose its financial statements for the period ended June 30, 2025 during the specified period mentioned in the rules on the offer of securities and continuing obligations. The company's shares will resume trading for 20 trading sessions as of Aug. 13, following the one-day suspension, and is required to announce its financial statements before the end of Tuesday, Sept. 9, 2025. In case the company fails to announce its financial statements for the specified period, a trading halt will be placed on shares as of Sept. 10, 2025, until the financials are disclosed.
Argaam
a day ago
- Argaam
CMA seeks public input on public offering of investment funds
Logo of Capital Market Authority (CMA) The Capital Market Authority (CMA) invited all interested parties to submit their views on enabling investors in the Saudi Exchange to invest in investment funds, which were previously offered privately through the regulatory framework for investment funds. The consultation period is 30 days, ending on September 10, 2025. The proposed draft aims to develop the regulatory framework for investment funds and provide new products in Tadawul by allowing investment funds established for engaging in direct and indirect financing activities to offer their units in a public offering. This will help provide an additional financing channel that supports economic growth and meets its financing needs, and will enable the growth of the asset management industry, increase the total assets under management, and diversify the investment assets available to all investors in Tadawul, the regulator said, in a statement. It indicated that the key elements of the proposed draft include providing additional structures for finance investment funds, by publicly offering and listing them on the Main Market (TASI) and the Nomu-Parallel Market, as their offering is currently limited to private placements.
