Latest news with #AlmoosaHealth
Arab News
27-05-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 10,925
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 150.78 points, or 1.36 percent, to close at 10,925.18. The total trading turnover of the benchmark index was SR5.11 billion ($1.36 billion), with 21 stocks advancing and 227 declining. The Kingdom's parallel market, Nomu, also shed 188.50 points to close at 26,592.04. The MSCI Tadawul Index dropped by 1.27 percent to 1,398.58. United Cooperative Assurance Co. was the top performer on the benchmark index, with its share price rising 3.16 percent to SR7.50. Bonyan REIT Fund also advanced, gaining 1.63 percent to SR9.35. Jahez International Co. for Information System Technology saw its shares climb 1.33 percent to SR25.15. Conversely, Almoosa Health Co. saw its share price edge down by 6.90 percent to SR143.00. United Carton Industries Co., which debuted on the main market on Tuesday, also declined, with its share price falling 1.50 percent to SR49.25. On the announcements front, Gas Arabian Services Co. disclosed that it had signed two contracts worth SR830.64 million with Saudi Power Procurement Co. According to a statement on Tadawul, the first contract, valued at SR504.32 million, covers the construction of gas pipeline networks to supply the Nairyah Independent Power Project. The second contract, worth SR326.32 million, involves building gas pipeline infrastructure for the Rumah IPP. Gas Arabian Services said the financial impact of these agreements will be reflected in its financial statements from 2025 through 2027. Following the announcement, the company's share price slipped 0.51 percent to SR15.70.
Argaam
27-05-2025
- Business
- Argaam
UCIC debuts on TASI today at SAR 50/share
United Carton Industries Co. (UCIC) starts trading on the Main Market (TASI) today, May 27, under the symbol 1323 and ISIN Code SA16AGP0KLH7, at a price of SAR 50 per share. The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply. For More IPOs UCIC is the sixth listing on TASI in 2025 after Almoosa Health Co. on Jan. 7, Nice One Beauty Digital Marketing Co. on Jan. 8, Derayah Financial Co. on March 10, Arabian Company for Agricultural & Industrial Investments (Entaj) on March 17 and Umm Al Qura for Development and Construction Co. (UQDC) on March 24. In 2024, 13 companies listed on Tadawul, in addition to Alistithmar AREIC Diversified REIT Fund. Following UCIC listing, the number of companies listed on TASI reached 235, along with 19 real estate traded funds. The company offered 12 million shares, or 30% of its capital, on TASI. It allocated 80% of the shares on offer to institutional investors, while the remaining 20% was set aside for retail investors. The retail IPO was 8.9x covered, with retail requests of nearly SAR 1.07 billion. Meanwhile, institutional IPO was 126x oversubscribed. A minimum of six shares was allocated to each investor, while the remaining shares will be allocated on pro rata, with an average allocation factor of 0.1072%. Company info UCIC is a closed joint-stock company in Saudi Arabia, established in 1988 in Jeddah. The company's capital is SAR 400 million, divided into 40 million shares at a par value of SAR 10 per share. Company Shareholders Shareholders Before IPO After IPO Number of Shares (mln) Ownership (%) Number of Shares (mln) Ownership (%) Zamil Group Holding* 12.00 30.0 % 8.40 21.0 % Omar Kassem Alesayi & Co. 12.00 30.0 % 8.40 21.0 % Frimex Investment 12.00 30.0 % 8.40 21.0 % Zamil Group Investment Co. 2.00 5.0 % 1.40 3.5 % Eastern Industrial Investment** 2.00 5.0 % 1.40 3.5 % Public -- -- 12.00 30.0 % Total 40.00 100 % 40.00 100 % *Zamil Group Holding fully owns Zamil Group Investment Co.
Zawya
14-05-2025
- Business
- Zawya
SMC opens up to $501mln IPO with cornerstone backing: IFR
Books opened on Sunday for the SR1.8bn–SR1.88bn (US$479.9m–$501.2m) Tadawul IPO of Specialized Medical Company. A total 75m secondary shares are on offer at SR24–SR25 each, valuing the company at SR6bn–SR6.25bn off a 30% free-float. Insurance company Tawuniya has agreed to subscribe for nearly 5.9m shares to give it a 2.4% stake in the company. SMC works with Tawuniya and the region's other large insurers Bupa Arabia and Medgulf. Tawuniya was a cornerstone on the SR1.69bn IPO of Almoosa Health at the end of 2024, taking a combined 22% of the deal with conglomerate Alfozan Holding. In common with many recent Saudi deals, SMC is positioned as a growth story with plans to add three hospitals by 2029 to the two it has already, more than doubling the number of beds to 1,276 from 578, though it isn't raising funds in the IPO. Its capacity puts it behind peers such as Fakeeh Care Group, Dr Sulaiman Al Habib Medical Services, Middle East Healthcare Company and Mouwasat Medical Services Company, which have between 952 and 2,965 beds. They have market capitalisations between SR5.89bn and SR94.5bn and trade at 11.8–30.2 times 2025 EV/Ebitda, with Dr Sulaiman trading at the highest multiple. Institutional books close on Thursday, pricing will be announced on May 26 and a retail offer for up to 20% of the deal will be open on May 28–29. Final allocations will be announced on June 4 and excess subscriptions refunded the same day. Total expenses of the offering are expected at SR41m. SNB Capital is lead manager, and joint bookrunner with EFG Hermes, with the two banks underwriting 82.9% and 17.1%, respectively.
Gulf Business
13-05-2025
- Business
- Gulf Business
MENA region saw 14 IPOs valued at $2.1bn in Q1; Saudi leads the lot
Image: Getty Images Initial public offerings (IPOs) in the Middle East and North Africa (MENA) region are off to a robust start in 2025, with 14 listings raising a combined $2.4bn in the first quarter — more than doubling the proceeds recorded during the same period last year, according to the latest EY MENA IPO Eye Q1 2025 report. Saudi Arabia once again emerged as the undisputed leader in regional IPO activity, accounting for 12 of the 14 listings during Q1. The kingdom's Tadawul Main Market hosted the region's biggest deal of the quarter — Umm Al Qura for Development & Construction — which raised $523m, or 22 per cent of total MENA IPO proceeds. Almoosa Health and Derayah Financial followed with $450m and $400m raised, respectively. Beyond Saudi Arabia, the UAE and Oman recorded one IPO each. Alpha Data debuted on Abu Dhabi Securities Exchange (ADX), raising US$163 million in the software and IT services space. Oman's Asyad Shipping Company SAOG raised $333m via the Muscat Stock Exchange (MSX). Saudi IPOs this quarter spanned a mix of industries — signalling growing diversification away from oil-centric sectors. Real estate management: 28 per cent of proceeds Healthcare: 24 per cent Financial services: 21 per cent Retail: 17 per cent 'This year started on a positive note. MENA capital markets continue to show resilience,' said Brad Watson, MENA EY-Parthenon leader. 'Saudi Arabia continues to dominate in both activity and proceeds.' Gregory Hughes, IPO pipeline The pipeline for 2025 remains promising. At least 21 companies have announced intentions to go public. Of these, 17 are based in Saudi Arabia and have secured approval from the Capital Market Authority (CMA). The UAE expects three listings, and Egypt is preparing one. With Saudi Arabia at the helm, MENA's IPO market is building momentum in 2025 — buoyed by sectoral diversity, investor appetite, and a healthy listing pipeline. The region's capital markets are positioning for continued strength through the rest of the year. At a glance: Q1 2025 IPOs in MENA: 14 Total proceeds: $2.4bn Y-o-Y increase in proceeds: 106 per cent Saudi Arabia listings: 12 Tadawul Main Market: 5 IPOs, $1.8bn Tadawul Nomu (Parallel Market): 7 listings (including one direct), $69m Top performing exchanges: Boursa Kuwait Premier Market Index: +10.7 per cent EGX30 (Egyptian Exchange): +8 per cent Positive post-IPO returns: 11 out of 14 IPOs Read:
Zawya
07-05-2025
- Business
- Zawya
Saudi IPOs top MENA; proceeds double to $2.4bln in Q1 2025
Proceeds of initial public offerings (IPOs) in the Middle East and North Africa (MENA) region have more than doubled on the back of significant activity in Saudi Arabia, according to EY. Total proceeds during the first quarter of the year reached $2.4 billion, up by 106% year-on-year, as the number of listings rose to 14, from 10 in Q1 2024. Saudi Arabia led in both activity and proceeds, recording 12 of the 14 listings in the region and with five offerings on the Saudi Stock Exchange (Tadawul) generating $1.8 billion and seven listings on the Nomu Parallel Market securing $69 million. 'KSA continues to dominate the MENA region's market in terms of activity as well as proceeds. In addition, the IPO pipeline for the rest of the year remains robust across various sectors and multiple countries,' said Brad Watson, MENA EY-Parthenon Leader. Saudi Arabia-listed Um Al Qura for Development & Construction led with the largest IPO, raising $523 million, accounting for 22% of the total proceeds. Almoosa Health followed with $450 million, accounting for 19% of total proceeds, and Derayah Financial with $400 million. The UAE saw one IPO during the quarter with Alpha Data raising $163 million on the Abu Dhabi Securities Exchange (ADX), while Oman's Muscat Stock Exchange (MSX) had one IPO with Asyad Shipping Company raising $333 million. (Writing by Cleofe Maceda; editing by Seban Scaria)
