Saudi's Anmat Tech sets IPO price, seeks $12.7mln
At the set price, the multi-sector company aims to raise SAR 47.5 million. Anmat intends to float 5 million shares, representing 11.63% of the post-IPO capital.
The share offering will run from May 22 to May 27, 2025, according to lead advisor Darb Altujjar Financial Company (Merchants Capital). Minimum subscription is pegged at 100 shares, with a maximum of 2 million shares per subscriber.
The company has appointed Alinma Investment as the lead manager for the offering. Qualified investors can subscribe through Alinma's online platform, as well as the electronic platforms of other authorised receiving entities.
Anmat operates in multiple sectors, offering IT solutions and telecommunications services to businesses, as well as architectural design and project management in the construction industry.
(Writing by Cleofe Maceda; editing by Seban Scaria)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
7 minutes ago
- The National
Manus on Markets: Poor US jobs data spooks markets
From tariff turmoil and stock shocks to market meltdowns, the global financial system has never been in such flux. Manus Cranny, The National's geo-economics editor, cuts through the noise and presents insights from the stories making headlines around the world.
Zawya
37 minutes ago
- Zawya
Jordan: US tariff adjustments enhance Jordan's export competitiveness — minister
AMMAN — The US' recent decision to impose additional customs duties had given Jordan a competitive edge in the American market, according to Minister of Industry, Trade and Supply Yarub Qudah. Qudah said that while Jordanian exports were subject to a 15 per cent tariff, it remains significantly lower than the tariffs imposed on other competing countries, boosting the relative competitiveness of Jordanian products, according to Al Mamlaka TV. Over the past few months, Jordan had engaged in negotiations with Washington, ultimately securing the lowest tariff increase among countries with free trade agreements or trade surpluses with the US, Qudah said. The minister also emphasised that Jordan's Free Trade Agreement (FTA) with the US was crucial in securing this preferential treatment, with Jordan's tariff rate capped at the lowest level, while other countries face tariffs ranging from 15 to 40 per cent. Qudah also said "The new 15 per cent tariff would be applied on top of existing duties. However, because Jordan previously enjoyed zero tariffs under the FTA, the full 15 per cent now applies, still more favourable than the compounded tariffs faced by other countries." He added that this tariff difference provides Jordanian exporters with a clear competitive advantage across multiple sectors in the US market. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Khaleej Times
a day ago
- Khaleej Times
Opec+ makes another large oil output hike in market share push
Opec+ agreed on Sunday to raise oil production by 547,000 barrels per day for September, the latest in a series of accelerated output hikes to regain market share, as concerns mount over potential supply disruptions linked to Russia. The move marks a full and early reversal of Opec+'s largest tranche of output cuts plus a separate increase in output for the UAE amounting to about 2.5 million bpd, or about 2.4 per cent of world demand. Eight Opec+ members held a brief virtual meeting, amid increasing US pressure on India to halt Russian oil purchases — part of Washington's efforts to bring Moscow to the negotiating table for a peace deal with Ukraine. President Donald Trump said he wants this by August 8. In a statement following the meeting, Opec+ cited a healthy economy and low stocks as reasons behind its decision. Oil prices have remained elevated even as Opec+ has raised output, with Brent crude closing near $70 a barrel on Friday, up from a 2025 low of near $58 in April, supported in part by rising seasonal demand. 'Given fairly strong oil prices at around $70, it does give Opec+ some confidence about market fundamentals,' said Amrita Sen, co-founder of Energy Aspects, adding that the market structure was also indicating tight stocks. The eight countries are scheduled to meet again on September 7, when they may consider reinstating another layer of output cuts totalling around 1.65 million bpd, two Opec+ sources said following Sunday's meeting. Those cuts are currently in place until the end of next year. Opec+ in full includes 10 non-Opec oil producing countries, most notably Russia and Kazakhstan. The group, which pumps about half of the world's oil, had been curtailing production for several years to support oil prices. It reversed course this year in a bid to regain market share, spurred in part by calls from Trump for Opec to ramp up production. The eight began raising output in April with a modest hike of 138,000 bpd, followed by larger-than-planned hikes of 411,000 bpd in May, June and July, 548,000 bpd in August and now 547,000 bpd for September. 'So far the market has been able to absorb very well those additional barrels also due to stockpiliing activity in China,' said Giovanni Staunovo of UBS. 'All eyes will now shift on the Trump decision on Russia this Friday.' As well as the voluntary cut of about 1.65 million bpd from the eight members, Opec+ still has a 2-million-bpd cut across all members, which also expires at the end of 2026. 'Opec+ has passed the first test,' said Jorge Leon of Rystad Energy and a former Opec official, as it has fully reversed its largest cut without crashing prices. 'But the next task will be even harder: deciding if and when to unwind the remaining 1.66 million barrels, all while navigating geopolitical tension and preserving cohesion.'
