Latest news with #SAR1.5
Trade Arabia
06-04-2025
- Business
- Trade Arabia
Miahona achieves financial close for $400m Saudi sewage plant
Miahona, a Saudi pioneer in water and wastewater infrastructure development, has announced that its consortium comprising Besix and Marafiq Company has achieved financial close for the SAR1.5 billion ($400 million) Al Haer Independent Sewage Treatment Plant (ISTP) coming up in the kingdom. To be developed on a build, own, operate and transfer (BOOT) model, the plant once completed will boast a treatment capacity of 200,000 cu m/day. Miahona has a 45% stake in the consortium. It will also include treated sewage effluent special facilities (TSESF), consisting of 32 km-long Treated Sewage Effluent (TSE) transmission system with a capacity of 400,000 cu m/day, a TSE Pumping Station, and TSE storage tanks with a capacity of 200,000 cu m/day. Miahona said the facilities agreements were sealed with the group of financiers comprising Banque Saudi Fransi (BSF), Apicorp and Riyad Bank. The commercial operation of the project will kick off in the fourth quarter of 2026, with the agreement spanning 25 years to guarantee sustained service delivery and effectiveness. -TradeArabia News Service
Trade Arabia
17-03-2025
- Business
- Trade Arabia
Entaj lists shares on Saudi Exchange after IPO
Arabian Company for Agricultural and Industrial Investment (Entaj), one of the leading poultry brands in Saudi Arabia, announced today the listing of its shares on the main market of the Saudi Exchange. This follows the successful completion of its initial public offering (IPO). The company is now trading under the ticker symbol: 2287. The IPO consisted of 9,000,000 ordinary shares, with 90% of the offer shares allocated to institutional investors. The orders recorded during the institutional book-building exceeded SAR93 billion ($25 billion), representing a coverage of 208.4 times. The number of shares that were allocated to the individual investors tranche was 900,000, representing 10% of the total offer shares. The offering saw 499,021 individual investors place orders totaling SAR1.4 billion, reflecting a subscription coverage of 30.2 times for this tranche. The final offer price was set at SAR50 per share, which is at the top end of the previously announced price range for IPO, with the Company successfully raising gross proceeds of SAR450 million with an implied market capitalisation of SAR1.5 billion at listing. Ziyad Al Sheikh, Vice Chairman, commented: "Today marks a historic milestone for Entaj as we officially list on the Saudi Exchange's Main Market, a testament to two decades of growth, innovation, and expansion. The overwhelmingly positive investor reception underscores the strength of Entaj's investment case and the trust in our vision. As we step into this new chapter, we remain steadfast in our commitment to excellence, transparency, and accelerating strategic growth in the Kingdom's dynamic poultry sector. Our focus will continue to be on delivering long-term value for our shareholders while advancing the Vision 2030 goals of food security and local production." Raja M Alharbi, CEO, said: 'The successful completion of our IPO reinforces Entaj's position as a leading force in Saudi Arabia's highly competitive poultry sector. This milestone provides us with enhanced visibility, credibility, and access to resources, positioning us to drive sustainable growth in the years ahead. As a high-growth company, we remain focused on scaling production, expanding our distribution network, and enhancing operational efficiencies to meet the growing demand for fresh, locally produced poultry. We are deeply grateful to our employees, customers, and partners for their unwavering support in making this achievement possible, and we thank our investors for their trust and confidence in our growth story." -
Trade Arabia
05-03-2025
- Business
- Trade Arabia
Entaj completes allotment of shares following IPO
Arabian Company for Agricultural and Industrial Investment (Entaj), one of the leading poultry brands in Saudi Arabia has announced the successful completion of the individual investor offering period and the final allotment of the offered shares in relation to the company's initial public offering (IPO). Following the completion of the institutional book-building period, which set the final offer price at SAR50 per share and resulted in an oversubscription of 208.4 times of the total offered shares, the individual investors offering took place from February 26 to 27. The number of shares that were allocated to the Individual Investors tranche was 900,000, representing 10% of the total offer shares. The offering saw 499,021 individual investors place orders totaling SAR1.4 billion, reflecting a subscription coverage of 30.2 times for this tranche, the company said. The company allocated a minimum of 1 share to each individual investor, with the remaining shares allocated on a pro-rata basis, based on the size of demand, with an average allocation factor of 1.5%. Based on the results of the retail subscription process, the shares allocated to participating parties will be reduced to 8,100,000 shares, representing 90% of the total offer shares. The final offer price of SAR50 implies a market capitalisation of SAR1.5 billion (approximately $400 million) at listing. Following the listing, the company is expected to have a free float of 30% (9,000,000) of its total shares (30,000,000).
Trade Arabia
03-03-2025
- Business
- Trade Arabia
Saudi Fund completes delivery of 330 housing units in Tunisia
The Saudi Fund for Development (SFD) has announced the successful handover of 330 residential units under its social housing development project in the Ben Arous governorate in Tunisia. The initial phase of the project, spanning several governorates in Tunisia, encompasses the delivery of 4,715 social housing units, supported by concessional financing from the SFD amounting to $150 million. Saudi Ambassador to Tunisia Dr Abdulaziz Al-Saqr and Tunisian Minister of Equipment and Housing Sarah Zaafrani oversaw the delivery of these housing units. Lauding the Saudi leadership for its unwavering support, Zaafrani said the social housing projects such as these - which are designed to provide decent housing for Tunisian citizens - showed the Saudi government's steadfast commitment to Tunisia. Al Saqr, extending his congratulations to the families benefiting from the project, said this move demonstrates KSA's support for initiatives that promote growth and development in Tunisia, particularly in the housing and health sectors, facilitated by funds provided through the SFD. The SFD, established in 1974, is involved in as many as 3,750 projects in 71 different countries across the globe. Till date, it has contributed SAR1.5 billion ($411 million) in financial assistance to more than 21 countries in Europe, South America, and the Caribbean. Last week, SDF signed a deal for the implementation of the grant provided to Somalia under the fifth phase of the Saudi Program for Drilling Wells and Rural Development in Africa. The signing ceremony was attended by Owais Haji Yusuf Ahmed, Ambassador of Somalia to the Kingdom of Saudi Arabia. The program aims to support access to clean water in rural areas of Somalia by drilling wells and establishing water supply networks powered by solar energy. This programme will contribute to providing safe drinking water, combating desertification, enhancing water and food security, and supporting the agricultural sector, while also reducing diseases and epidemics caused by contaminated water. As part of the program, the SDF has supported the drilling and equipping of more than 10,000 wells across 21 African countries, benefiting over 5 million people, with a total value of $330 million, said the statement from SDF.
Zawya
03-03-2025
- Business
- Zawya
Saudi Fund completes delivery of 330 housing units in Tunisia
The Saudi Fund for Development (SFD) has announced the successful handover of 330 residential units under its social housing development project in the Ben Arous governorate in Tunisia. The initial phase of the project, spanning several governorates in Tunisia, encompasses the delivery of 4,715 social housing units, supported by concessional financing from the SFD amounting to $150 million. Saudi Ambassador to Tunisia Dr Abdulaziz Al-Saqr and Tunisian Minister of Equipment and Housing Sarah Zaafrani oversaw the delivery of these housing units. Lauding the Saudi leadership for its unwavering support, Zaafrani said the social housing projects such as these - which are designed to provide decent housing for Tunisian citizens - showed the Saudi government's steadfast commitment to Tunisia. Al Saqr, extending his congratulations to the families benefiting from the project, said this move demonstrates KSA's support for initiatives that promote growth and development in Tunisia, particularly in the housing and health sectors, facilitated by funds provided through the SFD. The SFD, established in 1974, is involved in as many as 3,750 projects in 71 different countries across the globe. Till date, it has contributed SAR1.5 billion ($411 million) in financial assistance to more than 21 countries in Europe, South America, and the Caribbean. Last week, SDF signed a deal for the implementation of the grant provided to Somalia under the fifth phase of the Saudi Program for Drilling Wells and Rural Development in Africa. The signing ceremony was attended by Owais Haji Yusuf Ahmed, Ambassador of Somalia to the Kingdom of Saudi Arabia. The program aims to support access to clean water in rural areas of Somalia by drilling wells and establishing water supply networks powered by solar energy. This programme will contribute to providing safe drinking water, combating desertification, enhancing water and food security, and supporting the agricultural sector, while also reducing diseases and epidemics caused by contaminated water. As part of the program, the SDF has supported the drilling and equipping of more than 10,000 wells across 21 African countries, benefiting over 5 million people, with a total value of $330 million, said the statement from SDF. The program aims to mitigate the impact of drought in various rural regions of the African continent, it added.-TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
