Latest news with #AlRajhiCapital
Zawya
a day ago
- Business
- Zawya
Saudi oil revenues likely down in Q2: report
Saudi Arabia's oil revenues are expected to be down 16 per cent y-o-y in the second quarter of 2025, according to an Al Rajhi Capital Research report. Oil production averaged around 9.18 mmbpd during the second quarter of 2025, while crude oil prices averaged around $65.2/bbl vis-à-vis $74.3/bbl in the first quarter of 2025, the report said. Brent prices were down in Q2 2025 due to tariff related uncertainty and production increase. The upstream business is expected to be impacted by lower crude oil prices and the possibility of absence of premium over Brent, partly offset by higher production, said the report. On the other hand, downstream business should benefit from the improvement in the refining margins, it said. "In this backdrop, we anticipate Q2 2025 revenues to be down 16% y-o-y (-8% q-o-q). Adjusted profits (income before minority) are also expected to be lower 17.1% y-o-y and 10.4% q-o-q at SAR88.5 billion ($23.6 billion). "Overall, weaker crude oil prices to weigh on upstream performance, albeit partly offset by improvement in downstream owing to better refining margins," it said. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Argaam
23-07-2025
- Business
- Argaam
Al Rajhi Capital sees no changes to MSCI Standard Index in August
Al Rajhi Capital said it does not expect any Saudi company to be added to the MSCI Saudi Arabia Standard Index but flagged Saudi Kayan Petrochemical Co. as a potential deletion and downgrade to the Small Cap Index. The firm cited Saudi Kayan's SAR 6.9 billion market cap as below the required threshold, adding that that the company's adjusted free float market cap also falls short. A removal could trigger outflows of about SAR 248 million. The MSCI review will be announced on Aug. 7, with changes effective Aug. 27. The firm said Umm Al Qura for Development and Construction Co. (Masar) and Riyadh Cables Co. exceed the total paid-up capital threshold but remain below the free float requirement, adding that Riyadh Cables could become eligible if its share price rises by about 25% and meets the adjusted threshold before the November review. Astra Industrial Group and Aldrees Petroleum and Transport Services Co. may become eligible if their shares rise more than 30%, assuming the current minimum thresholds remain unchanged, the brokerage added.
Argaam
08-07-2025
- Business
- Argaam
List of receiving entities for Sport Clubs IPO
Retail investors began today, July 8, subscribing to 6.86 million shares of Sport Clubs Co. at SAR 7.5 per share, as determined through the book-building process. The company stated that the retail subscription period will be limited to just one day. Sport Clubs plans to offer 34.32 million shares, representing 30% of its SAR 250 million share capital, at nominal value of SAR 1, according to data compiled by Argaam. The receiving entities are Derayah Financial, Al Rajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Alinma Investment, Yaqeen Capital, Alkhabeer Capital, SAB Invest, ANB Capital, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes Saudi Arabia, Osool & Bakheet Investment, and Awaed Capital.
Argaam
15-06-2025
- Business
- Argaam
List of receiving entities for SMC IPO
Retail investors began today, June 15, subscribing to 15 million shares of Specialized Medical Co. (SMC) at SAR 25 per share, as determined through the book-building process. Retail investors subscription period was initially scheduled to begin on May 28 and end on May 29, before the postponement was announced. For More IPOs The company decided to float 75 million shares, or 30% of its share capital valued at SAR 250 million, divided into 250 million shares, at a nominal value of SAR 1 per share, data compiled by Argaam showed. The receiving entities are Derayah Financial, Al Rajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Alinma Investment, Yaqeen Capital, Alkhabeer Capital, SAB Invest, ANB Capital, Sahm Capital, and GIB Capital.
Zawya
03-06-2025
- Business
- Zawya
Riyadh needs 130,000 houses per year
The Saudi capital Riyadh needs to build nearly 130,000 houses per year to face a rapid increase in demand due to high population growth, the Gulf Kingdom's Municipalities and Housing Minister said on Monday. Majid Al-Hogail said the world's dominant oil exporter is highlighting housing project opportunities to global investors at Cityscape show underway in Britain. In an interview with the Saudi news broadcaster Al-Arabiya, Hogail said his Ministry is working to develop mortgage facilities to ensure sufficient funds for housing projects. 'There is a high demand for housing in Saudi Arabia, especially in Riyadh.…we estimate that the city needs nearly 130,000 housing units every year,' he said. Officials have said Saudi Arabia would present new housing projects to investors during Cityscape Global to be held in Riyadh in November. The Saudi Al-Rajhi Capital financial service company said in a study last month that demand for houses in Saudi Arabia will largely outstrip supply by 2030 due to high population growth and government incentives to citizens. Demand is projected at around 1.2 million houses but nearly 800,000 units are expected to be delivered in 2030, the study said. The report showed that housing ownership by Saudis has surged from around 46 per cent in 2016 to nearly 63.7 per cent at the end of 2023, adding that the ratio is expected to swell in the next years. Early this year, the Real Estate General Authority said it has qualified nearly 1,000 local and foreign developers within a drive to building affordable homes for citizens. (Writing by Nadim Kawach; Editing by Anoop Menon) (
