Latest news with #UmmAlQura
Argaam
17-05-2025
- Business
- Argaam
Saudi Arabia approves amendments to CCC integrated customs tariff
Mohammed Al-Jadaan, Minister of Finance and Chairman of the Zakat, Tax and Customs Authority (ZATCA), approved amendments to the CCC integrated customs tariffs. The decision will take effect from June 1, 2025, the data of its publication on the official gazette Umm Al-Qura. The updates include revised tariff rates on several goods, most notably natural honey products and chemicals. A 5% customs duty was applied to filtered Manuka honey as well as other types of natural honey, whether filtered or containing wax pieces. Additionally, a 2% customs duty was imposed on several chemicals such as acetophenone, propiophenone, methyl acetophenone, benzophenone, and butyl dimethyl acetophenone. A 5% tariff will also apply to compounds including methyl naphthyl ketone and benzylidene acetone.
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
12-05-2025
- Business
- Zawya
Saudi: Umm Al Qura's net profits witness 3,219% leap in Q1-25
Riyadh – Umm Al Qura for Development and Construction generated 3,219% year-on-year (YoY) higher net profits at SAR 159.66 million in the first quarter (Q1) of 2025, versus SAR 4.81 million. The company's revenues hiked by 172.17% year-on-year (YoY) to SAR 501.98 million in Q1-25 from SAR 184.43 million, according to the financial results. Earnings per share (EPS) hit SAR 0.120 as of 31 March 2025, compared to SAR 0.004 a year earlier. Quarterly, the Q1-25 net profits dropped by 15.76% from SAR 189.55 million in Q4-24, while the revenues plunged by 36.97% from SAR 796.46 million. As of 31 December 2024, the company's net profits hiked by 57.29% YoY to SAR 498.61 million from SAR 317 million. Source: Mubasher
Arabian Business
06-05-2025
- Business
- Arabian Business
MENA IPOs raised $2.4bn in Q1 2025, top markets and sectors revealed
MENA markets saw 14 IPOs during Q1 2025, raising $2.4bn in proceeds, according to the EY MENA IPO Eye Q1 2025 report. When compared year-on-year to the Q1 2024 listings, the number of IPOs increased by four, with a significant rise in proceeds of 106 per cent. The IPOs in Q1 2025 were listed across Saudi Arabia, UAE and Oman. MENA IPO 2025 The listing for Umm Al Qura for Development and Construction raised the highest proceeds in the quarter, contributing 22 per cent of the overall IPO proceeds, followed by Almoosa Health, which contributed 19 per cent. Both companies are listed on the Tadawul Main Market in KSA. In terms of MENA stock exchange performance, the Boursa Kuwait Premier Market Index emerged as the top performer, recording a gain of 10.7 per cent, followed by the Egyptian Exchange (EGX30), which saw an 8 per cent gain. At the end of the quarter, 11 out of the 14 MENA IPOs showed a positive return compared to their IPO price. Brad Watson, MENA EY-Parthenon Leader, said: 'This year started on a positive note. MENA capital markets continue to show resilience, with the total IPO value more than doubling compared to the same period last year. '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.' In Saudi Arabia, the Tadawul Main Market welcomed the largest offering in the MENA region for Q1 2025 with Umm Al Qura for Development and Construction raising $523m and contributing 22 per cent of the overall IPO proceeds. This was followed by Almoosa Health Group, which accounted for 19 per cent with $450m, and Derayah Financial with $400m. In the first quarter of the year, KSA led the region in IPO activity again, accounting for 12 out of the 14 listings. During this period, five IPOs took place on the Tadawul Main Market, generating total proceeds of $1.8bn, while the remaining seven IPOs listed on the Tadawul Nomu Parallel Market totalled $69m. The Kingdom also witnessed one direct listing on the Tadawul Nomu Parallel Market with Twareat Medical Care Company (TMC). The IPO funds raised in KSA during Q1 2025 came from diverse sectors, with the largest contributions from: Real estate management: 28 per cent Healthcare equipment and services: 24 per cent Financial services: 21 per cent Consumer discretionary distribution and retail: 17 per cent During Q1 2025, the UAE saw one IPO listed on the Abu Dhabi Securities Exchange (ADX) with Alpha Data PJSC, a company in the software and IT services sector, raising $163m. Oman's Muscat Stock Exchange (MSX) witnessed one IPO, with Asyad Shipping Company SAOG raising $333m. Gregory Hughes, EY MENA IPO and Transaction Diligence Leader, said: 'The increased demand for MENA listings has led to developments in market infrastructure through new products, enhanced governance standards, and a focus on transparency and accountability. 'The upward trajectory in the number of IPOs across the region reflects a wider trend of sector diversification, with investors and companies increasingly looking beyond traditional oil-based industries. 'In 2025, we can potentially expect to see an increase in IPOs from the technology sector, including online retail, FinTech, foodtech, and classifieds.' The outlook for MENA IPOs for the rest of 2025 remains positive, with 21 companies intending to list on the region's exchanges across various sectors. KSA remains the frontrunner, with 17 companies having received approval from the Capital Market Authority (CMA). In the UAE, three companies have announced their plans to list and outside the GCC, Egypt has announced one IPO.
Arab News
06-05-2025
- Business
- Arab News
Saudi Arabia leads 106% rise in MENA IPO proceeds across Q1: EY
RIYADH: Proceeds from initial public offerings across the Middle East and North Africa saw a 106 percent annual rise in the first quarter of 2025, fueled by Saudi Arabia, according to an analysis. In its latest report, professional services networking firm EY said the MENA region raised $2.1 billion through 14 IPOs — a year-on-year rise of four — in the three months to the end of March. Over the period, 12 of the 14 listings happened in the Kingdom, with five IPOs taking place on the Tadawul benchmark index, and seven occurring on Saudi Arabia's parallel market, Nomu. In recent years, the Kingdom has emerged as a hotspot for listings, fueled by robust economic reforms, diversification efforts away from oil dependence, and growing interest from regional and international investors. In January, a separate report released by Kamco Invest said that Saudi Arabia led the GCC IPO market in 2024, earning a global ranking of seventh in total IPO proceeds. Commenting on activities in the first quarter, Brad Watson, MENA EY-Parthenon leader, said: 'This year started on a positive note. MENA capital markets continue to show resilience, with the total IPO value more than doubling compared to the same period last year.' He added: 'Saudi Arabia 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.' According to the latest report, the Kingdom's Tadawul main market welcomed the largest offering in the MENA region during the first quarter of this year, with Umm Al Qura for Development and Construction Co. raising $523 million, contributing to 22 percent of the overall IPO proceeds. This was followed by Almoosa Health Group, which accounted for 19 percent with $450 million, and Derayah Financial with $400 million. Overall, the Tadawul main market generated $1.8 billion in total proceeds, while Nomu raised $69 million. EY revealed that 28 percent of the IPO funds raised in Saudi Arabia came from the real estate management sector, followed by healthcare equipment and services at 24 percent, financial services at 21 percent, and consumer discretionary and retail at 17 percent. In the first quarter of this year, the UAE witnessed one IPO on the Abu Dhabi Securities Exchange, with Alpha Data PJSC raising $163 million. Oman's Muscat Stock Exchange saw one IPO, with Asyad Shipping Co. raising $333 million. 'The increased demand for MENA listings has led to developments in market infrastructure through new products, enhanced governance standards, and a focus on transparency and accountability,' said EY MENA IPO and Transaction Diligence Leader, Gregory Hughes. He added: 'The upward trajectory in the number of IPOs across the region reflects a wider trend of sector diversification, with investors and companies increasingly looking beyond traditional oil-based industries.' EY further said that the outlook for MENA IPOs for the rest of 2025 remains positive, with 21 companies intending to list on the region's exchanges across various sectors. According to EY, Saudi Arabia remains the frontrunner in this pipeline, with 17 companies already receiving approval from the Kingdom's Capital Markets Authority. In the UAE, three companies have announced their plans to list, and outside the GCC, Egypt has announced one IPO. 'In 2025, we can potentially expect to see an increase in IPOs from the technology sector, including online retail, fintech, foodtech, and classifieds,' said Hughes.
