Latest news with #SaudiIndustrialInvestmentGroup
Reuters
7 days ago
- Business
- Reuters
Major Gulf markets mixed on Trump's tariff uncertainty
May 27 (Reuters) - Gulf stock markets were mixed on Tuesday, with Saudi Arabia's main Tadawul index (.TASI), opens new tab retreating 0.78% as investor sentiment remained fragile on the unpredictability of U.S. President Donald Trump's trade policies. Trump announced a postponement of his threatened 50% duties on the European Union on Sunday, providing a boost to futures markets. A deadline for July 9 has been set to allow for talks between Washington and the 27-nation bloc to produce a deal. Nasdaq futures rose 1.67% and S&P 500 futures climbed 1.49%. Oil prices - a catalyst for the markets in the Gulf - were little changed, with Brent crude futures up 11 cents, or 0.2%, by 0640 GMT, as markets await clarity on the OPEC+ group's next move at a meeting later this week. O/R In Saudi Arabia, Saudi Arabian Refineries Company ( opens new tab lost 3.44%, while Saudi Industrial Investment Group ( opens new tab was down 3.38%. But markets in the United Arab Emirates traded higher, with Abu Dhabi's benchmark index (.FTFADGI), opens new tab up 0.11% and Dubai's main share index (.DFMGI), opens new tab gaining 0.23%, and hitting its highest level since July 2008. Amlak Finance ( opens new tab was Dubai's biggest gainer, up 6.10%, after the company announced a board meeting later this week to discuss significant corporate actions, including asset sales and a potential exit from its real estate finance portfolio. Qatar's benchmark stock index (.QSI), opens new tab fell 0.29%, logging losses for a second straight session. Qatar National Bank ( opens new tab,the largest bank in the region by assets, was down 0.64%, and Qatar Fuel Company ( opens new tab retreated 0.67%.
Argaam
26-05-2025
- Business
- Argaam
Edaa applies capital reduction for SIIG
The Securities Depository Center Co. (Edaa) implemented today, May 26, a reduction in securities for Saudi Industrial Investment Group (SIIG) in the accounts of eligible shareholders. According to data available with argaam, SIIG shareholders approved on a 10% capital decrease to SAR 6.8 billion from SAR 7.5 billion, for exceeding business needs, during an extraordinary general meeting (EGM) held recently. Shareholders will be compensated for the cancelled shares by the distribution of SAR 754.8 million, at the rate of SAR 10 per cancelled share.
Zawya
07-02-2025
- Business
- Zawya
SIIG generates $53.6mln net profits in 2024, quarterly profit unchanged YoY
Riyadh: Saudi Industrial Investment Group (SIIG) registered net profits of SAR 201 million in 2024, a 79.46% year-on-year (YoY) increase from SAR 112 million. The earnings per share (EPS) rose to SAR 0.27 in 2024 from SAR 0.15 in 2023, according to the annual financial results. It is worth highlighting that the company follows the equity method when accounting for its investments in the joint venture companies; therefore, the sales/revenue and gross profit items do not appear in the profit/loss statement. Financials for Q4-24 In the fourth quarter (Q4) of 2024, SIIG's net profits stood at SAR 11 million, maintaining the same level when compared to Q4-23. On a quarterly basis, the Q4-24 net profit signalled a dropping of 88.77% from SAR 98 million in Q3-24. It is worth mentioning that during the first nine months (9M) of 2024, SIIG recorded net profits of SAR 190 million, marking an 88.11% increase from SAR 101 million in the same period of 2023.
Arab News
06-02-2025
- Business
- Arab News
Closing Bell: Saudi main index edges up to close at 12,433
RIYADH: Saudi Arabia's Tadawul All Share Index edged up on Thursday, gaining 19.18 points, or 0.15 percent, to close at 12,433.58. The total trading turnover of the benchmark index was SR6.88 billion ($1.83 billion), as 123 of the listed stocks advanced, while 96 retreated. The MSCI Tadawul Index increased by 2.23 points, or 0.14 percent, to close at 1,545.99. The Kingdom's parallel market Nomu also rose, gaining 135.68 points, or 0.43 percent, to close at 31,386.27. This comes as 40 of the listed stocks advanced, while 39 retreated. The best-performing stock was Almasane Alkobra Mining Co., with its share price surging by 7.49 percent to SR68.9. Other top performers included the Thimar Development Holding Co., which saw its share price rise by 5.76 percent to SR56.9, and Makkah Construction and Development Co., which saw a 4.42 percent increase to SR108.60. Mutakamela Insurance Co. saw the largest decline of the day, with its share price dropping 2.19 percent to SR18.72. The Tanmiah Food Co. saw a decline of 1.99 percent, with its share price dropping to SR127.80, while the Saudi Industrial Investment Group fell by 1.69 percent to SR17.40. On the announcements front, Saudi Industrial Investment Group reported its annual financial results for 2024, with net profits reaching SR11 million, matching the previous year's figure. Saudi Arabian Mining Co., known as Ma'aden, also announced the official launch of its US dollar-denominated trust certificates offering. The offering is available to eligible investors both in Saudi Arabia and internationally, as part of Ma'aden's strategic initiative to strengthen its financial position and expand investment opportunities. To facilitate the issuance, Ma'aden has appointed 10 companies as joint lead managers for the transaction, including Citigroup Global Markets Limited, HSBC Bank, Al Rajhi Capital Co., BNP Paribas, and GIB Capital. The other five include J.P. Morgan Securities plc, Natixis, Saudi Fransi Capital, SNB Capital Co., and Standard Chartered Bank. In a statement to Tadawul, the company stated that the sukuk will be issued in two tranches, with maturities of 5 and 10 years. The minimum subscription amount is set at $200,000, with the final value and terms of the offering to be determined based on market conditions. Following the announcement, Ma'aden's shares closed at SR48.15, up 4.05 percent in today's session.
