Latest news with #SinadHolding
Zawya
2 days ago
- Business
- Zawya
Saudi's Sinad Holding buys 6.67mln shares of Dar Al Majed as cornerstone investor
Saudi Arabia's Sinad Holding Co. has committed to subscribe as a cornerstone investor for 6.67 million shares in the IPO of Dar Al Majed Real Estate Co. (AlMajdiah). The share purchase represents around 2.22% of Al Majdiah's capital, Sinad said. The allocation was approved by the selling shareholders in the company's supplementary prospectus, published on July 29. The move aligns with Sinad's objective to strengthen and diversify its investment portfolio by targeting opportunities that help maximise returns. AlMajdiah has set the price range for its IPO between 13.5-14 Saudi riyals ($3.60-3.73). Last week, the developer announced floating 30% of its share capital, or 90 million shares, on the Main Market (TASI). The book-building process commenced on July 29 and will close on August 4, 2025. All shares on offer were subscribed within minutes of the books opening, Bloomberg reported. Saudi Fransi Capital has been appointed as the financial advisor, lead manager, underwriter and bookrunner for the IPO.
Reuters
29-05-2025
- Business
- Reuters
Most Gulf markets rise in early trade tracking firmer oil prices
May 29 (Reuters) - Most Gulf stock markets rose in early trade on Thursday, tracking stronger oil prices, after a U.S. trade court blocked most of President Donald Trump's "Liberation Day" tariffs from going into effect. Oil prices - a catalyst for markets in the Gulf - rose by $1 on Thursday, with Brent crude futures rising 1.6% to $65.93 a barrel, as of 0630 GMT. The Court of International Trade on Wednesday ruled that Trump overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The ruling boosted risk appetite across global markets, which have been on edge about the impact of levies on economic growth. Analysts, however, say that the relief might be temporary given the Trump administration said it will appeal the ruling. Supply risks continue to persist, with Chevron (CVX.N), opens new tab terminating its oil production and other activities in Venezuela. Its key license was revoked by the Trump administration in March. Markets were also on the watch for a potential new U.S. sanctions curbing Russian crude flows alongside decision from OPEC+ on accelerating oil production hikes in July, expected in a meeting later this week. Saudi Arabia's benchmark stock index (.TASI), opens new tab was up 0.26% in early trade, with investment company Sinad Holding ( opens new tab advancing 4.62%. The kingdom's largest lender by assets Saudi National Bank ( opens new tab was up 1.01%. Markets in the UAE were subdued, with Abu Dhabi's benchmark index (.FTFADGI), opens new tab inching 0.14% lower and Dubai's main share index (.DFMGI), opens new tab down 0.49%. Maritime and shipping company Gulf Navigation Holding ( opens new tab was the top loser on the index in Dubai, falling 1.68%. Construction materials provider National Cement ( opens new tab was the top gainer, up 5.57%. The index is set to snap five consecutive sessions of gains. Qatar's benchmark stock index (.QSI), opens new tab was up 0.24% in early trade, with consumer goods conglomerate Industries Qatar ( opens new tab gaining 1.40%.
Zawya
13-05-2025
- Business
- Zawya
Saudi: Sinad Holding's losses shrinks in Q1-25
Riyadh – Sinad Holding Company suffered 80.71% lower net losses at SAR 2.70 million in the first quarter (Q1) of 2025, compared to SAR 14 million. The company's revenues dropped by 7.49% to SAR 412.10 million in Q1-25 from SAR 445.50 million a year earlier, according to the financial results. Loss per share reached SAR 0.02 as of 31 March 2025, compared to SAR 0.11 in Q1-24. Quarterly, the Q1-25 revenues plunged by 11.16% from SAR 463.90 million in the three-month period that ended on 31 December 2024. Meanwhile, the company turned to net losses against profits of SAR 7.90 million. Last year, Sinad Holding suffered net losses valued at SAR 3.90 million, lower by 97.06% than SAR 132.60 million in 2023. Source: Mubasher
Zawya
14-03-2025
- Business
- Zawya
Sinad Holding announces 97% decrease in 2024 net losses amid higher revenue
Riyadh – The net losses of Sinad Holding Company shrank by 97.06% to SAR 3.90 million in 2024 from SAR 132.60 million in 2023. The loss per share declined to SAR 0.03 as of 31 December 2024 compared with SAR 1.05 in the same period a year earlier, according to the income statements. Meanwhile, the company generated 6.96% higher revenue at SAR 1.75 billion in 2024 from SAR 1.63 billion in 2023. The higher sales were attributed to increase in the company's sales in Saudi Arabia as well as in export sales at the group level. This is in addition to sales geographical expansion through growing sales channels. During the first nine months (9M) of 2024, Sinad Holding posted lower net losses at SAR 11.80 million in addition to revenue worth SAR 11.80 million. Source: Mubasher
