Najran Cement completes 4.25M share buyback in Q1 2025
Najran Cement Co. said in a statement to Tadawul that it completed the first phase of its share buy-back process during the first half of 2025, and it will continue the buyback process during the second half of 2025, based on market conditions at the time.
Najran Cement repurchased 4.25 million shares, or 2.50% of the company's outstanding shares, at SAR 35.855 million, or SAR 8.44 each.
The company's board of directors recommended, on Sept. 25, buying back up to a maximum of 17 million treasury shares, Argaam reported. The buyback will be financed from the company's own resources using cash reserves or credit facilities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
27 minutes ago
- Argaam
Naf Nomu offering price set at SAR 76/shr
TeamOne Co., the financial advisor on the initial public offering (IPO) of Naf Company for Feed for Industry on the Nomu-Parallel Market, set the offer price at SAR 76 per share, according to a statement to Tadawul. The Capital Market Authority (CMA) approved, in March, Naf's application for direct listing on Nomu. The company plans to float 400,000 shares, representing 20% of its issued capital, according to Argaam 's data. For More IPOs The share sale will run from June 22-26. Incepted in 2015, the company was established in Riyadh as a branch of a sole proprietorship under the name "Naf Feed Factory for Industry Co.", before transforming into a closed joint-stock firm. Its current actual activity is the manufacturing and sale of feed products.
Argaam
27 minutes ago
- Argaam
Riyadh Air places order for 50 Airbus A350-1000 aircraft
Riyadh Air, Saudi Arabia's new national carrier and a Public Investment Fund (PIF) subsidiary, signed, today, June 16, an order for 50 Airbus A350-1000 aircraft. In a statement issued during the 55th edition of the Paris Air Show, the airline said the agreement includes a firm order for 25 aircraft, with options to purchase an additional 25. The Airbus A350-1000 offers an operational range of over 16,000 km, enabling Riyadh Air to reach the most distant global destinations and enhance air connectivity between major cities worldwide. The airline selected the A350-1000 to boost fleet efficiency, increase seating capacity, and improve operational performance, while also streamlining its fleet by reducing the number of aircraft types. With this latest order, Riyadh Air has now placed orders for a total of 182 aircraft, building a fleet that will consist of three main aircraft types when operations begin later in 2025. The airline also announced plans to introduce a newly designed first-class cabin on these aircraft, along with business, premium economy, and economy classes. Riyadh Air said that its fleet will be equipped with advanced digital features, including the latest in-flight entertainment and connectivity systems.
Arab News
an hour ago
- Arab News
PIF's AviLease to acquire up to 77 Airbus jets in expansion drive
RIYADH: Saudi Arabia's Public Investment Fund-owned AviLease has signed a deal to purchase up to 77 Airbus aircraft, further expanding its next-generation, fuel-efficient fleet to meet rising global demand across passenger and cargo operations. The agreement, announced at the Paris Air Show, includes 55 A320neo Family aircraft and 22 A350F freighters, with deliveries scheduled through 2033, according to a press release. This marks AviLease's first direct order with Airbus. The move aligns with the goals of the Saudi Aviation Strategy, which targets a rise in annual passenger capacity to 330 million and cargo throughput to 4.5 million tonnes by 2030, while enhancing the Kingdom's status as a regional aviation hub. 'This dual order reinforces AviLease's credentials as a leading lessor, and it demonstrates the broad appeal of our products among lessors and their airline customers,' said Benoit de Saint-Exupéry, executive vice president of sales for Airbus Commercial Aircraft. Edward O'Byrne, CEO of AviLease, said: 'We are proud to establish an Airbus order book, strengthening our position as a full-service, investment grade global lessor. The addition of these latest generation aircraft enhances our ability to offer modern, fuel-efficient fleet solutions to our airline partners in Saudi Arabia and around the world.' The A350F freighters were selected following consultations with local stakeholders and will support Saudi Arabia's expanding air cargo requirements. O'Byrne noted that AviLease has secured delivery slots in line with the Kingdom's Vision 2030 goals. 'We thank our local partners and Airbus for the strong long-term partnership we have established and look forward to placing these aircraft across our valued customer base,' he said. The A350F, according to Airbus, offers at least 20 percent lower fuel consumption, improved loading capabilities, and extended range. The new order follows AviLease's purchase of 30 Boeing 737 MAX aircraft in May—its first direct deal with a manufacturer—bringing its total new aircraft orders within two months to 107. 'In less than two months, AviLease has signed two major deals, reflecting its long-term ambition to become a top 10 global player in aircraft leasing and to strengthen its position as a national champion,' said Fahad Al-Saif, chairman of AviLease. As of March 31, AviLease had a portfolio of 200 aircraft leased to 48 airlines around the world. In April, the firm secured a $1.5 billion unsecured revolving credit facility to support its global expansion. The three-year facility attracted commitments from 20 international banks, including eight new lenders from Europe, Asia, and North America. The company holds investment-grade ratings of Baa2 (stable) from Moody's Ratings and BBB (stable) from Fitch Ratings.
