Latest news with #SNBCapital
Zawya
a day ago
- Business
- Zawya
ACWA Power's $1.9bln rights issue may include rump offering
Saudi utility giant ACWA Power's upcoming SAR 7.125 billion ($1.9 billion) rights issue may include a rump placement of unsubscribed shares to ensure the offering is fully subscribed. The Saudi-listed company announced on Wednesday the issuance of a preliminary prospectus for its plan to increase its capital via a rights issue, which is part of the company's strategy to consolidate its growth, including tripling its managed assets by 2030. If any of the shares remain unsubscribed, they will be offered to institutional investors and underwriters, according to the company's prospectus. The offering is meant to increase ACWA Power's capital from its current SAR 7.325 billion. The nominal value of the new ordinary shares to be issued is set at SAR 10 apiece. The offering is expected to commence three business days from the approval of the capital increase by the Extraordinary General Assembly, which is scheduled on June 30, 2025. Following the close of the initial subscription period, any remaining unsubscribed shares, referred to as 'rump shares', will be offered at no less than the offering price. Institutional investors can submit their offers, with allocation based on the highest bid. Any remaining rump shares will be offered to the underwriters, who will subscribe at the initial offering price on a pro-rata basis. SNB Capital, J.P. Morgan and Citigroup Saudi Arabia have been appointed as joint financial advisors for the rights issue. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
2 days ago
- Business
- Zawya
Saudi National Bank issues 5-year riyal sukuk worth $461mln at 6%
Saudi National Bank (SNB) issued 1.73 billion Saudi riyals ($461.3 million) in SAR-denominated Additional Tier 1 sukuk at a profit rate of 6%. The 5-year perpetual sukuk will be used to boost its capital in line with the Basel III framework SNB Capital was the sole bookrunner, lead arranger, and lead manager for the proposed offering. (Writing by Brinda Darasha; editing by Daniel Luiz)
Argaam
28-05-2025
- Business
- Argaam
List of receiving entities for flynas IPO
Retail investors began today, May 28, subscribing to 10.25 million shares of Saudi Arabia's budget airline flynas at SAR 80 per share, as determined through the book-building process. The company decided to float 51.3 million shares, or 30% of its share capital, at a nominal value of SAR 10 per share, data available with Argaam showed. The receiving entities are Derayah Financial, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Alinma Investment, Yaqeen Capital, Alkhabeer Capital, SAB Invest, ANB Capital, Sahm Capital and GIB Capital.
Argaam
25-05-2025
- Business
- Argaam
SMC postpones retail IPO until June 15, 2025
Specialized Medical Co. (SMC) postponed the individual subscription to its potential initial public offering (IPO) until June 15, 2025, said SNB Capital. SNB Capital is the joint lead manager, financial advisor, bookrunner, and underwriter for the potential IPO, along with EFG Hermes Saudi Arabia.
Zawya
08-05-2025
- Business
- Zawya
Saudi National Bank plans new sukuk
Saudi National Bank (SNB) intends to issue SAR-denominated sukuk to boost its capital in line with the Basel III framework, the lender has said. The board of directors approved the sukuk issue on November 11, 2024, which will be offered to eligible investors in Saudi Arabia. The amount and terms of the offer will be subject to market conditions. SNB Capital has been named the sole bookrunner, lead arranger, and lead manager for the proposed offering. The sukuk issuance is subject to regulatory approvals, the statement said. In November 2024, SNB raised SAR 6 billion by issuing SAR-denominated additional Tier 1 sukuk. (Editing by Seban Scaria
