Latest news with #capitalincrease
Argaam
3 days ago
- Business
- Argaam
ARTEX approves SAR 15.6M subscription in affiliate capital raise
ARTEX Industrial Investment Co. 's board of directors approved on July 24, subscribing to the capital increase of Red Sea Cables Co. to preserve its 27% ownership stake. The subscription amounts to SAR 15.55 million through 864,000 shares. In a statement on Tadawul, ARTEX said the move aligns with its strategy to preserve value-generating investments and support the growth of high-performing affiliates. Red Sea Cables has shown positive financial indicators and operational expansion, the company noted. The statement also clarified that ARTEX's Chairman Sulaiman Al-Abdullatif, also serves as Red Sea Cables Chairman. The decision was made in accordance with the company's conflict-of-interest policy, with the related party abstaining from voting, and no preferential terms were involved. ARTEX added that it will disclose any material developments related to this matter in due course.
Bloomberg
23-07-2025
- Business
- Bloomberg
Iberdrola's Share Sale Draws €19 Billion in Investor Orders
Iberdrola SA 's capital increase attracted orders for about 3.8-times the stock available, suggesting robust appetite for European stock sales. The Spanish energy firm raised about €5 billion ($5.9 billion) on Wednesday by selling more than 331 million new shares at €15.15 each, a 4.7% discount to its last closing price. It was Europe's largest stock sale this year, according to data compiled by Bloomberg. The level of demand, which was disclosed in a company statement, represented roughly €19 billion of investor orders.
Argaam
23-07-2025
- Business
- Argaam
National Building raises subsidiary's capital to SAR 300M
National Building and Marketing Co. (NBM) increased the capital of its subsidiary, Ajeej Steel Manufacturing Co. (a closed joint stock company), from SAR 180 million to SAR 300 million. In a statement to Tadawul, NBM said the subsidiary's share capital will be raised from 180 million to 300 million ordinary shares under this transaction. The SAR 120 million capital increase was covered from the shareholders' current account, it added. This step is a part of supporting the growth and expansion plans of its subsidiary, which will strengthen NBM's financial position and positively reflect on its consolidated results.
Yahoo
23-07-2025
- Business
- Yahoo
Iberdrola Starts €5 Billion Share Sale for Grid Investment
(Bloomberg) -- Iberdrola started a €5 billion ($5.9 billion) capital increase, the biggest share sale in Europe so far this year, to bolster investments in power networks and further its US and UK expansion. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The indicative price guidance for the Spanish energy giant's accelerated bookbuild was €15.10 per share to market, according to terms seen by Bloomberg. Iberdrola's closing price was €15.895 on Tuesday, bringing the stock's gains to 20% this year. Indicative investor interest exceeds of the size of the offer, with the company's shares suspended in early Madrid trading. Iberdrola is one of a handful of companies cashing in on the unprecedented demand to build out power grids as countries work to decarbonize and meet rising electricity demand. The company expects to invest some €55 billion globally over the next six years, an increase of 75% compared with the previous six years. The Spanish utility will maintain its focus on the US and UK, saying tariff frameworks for transmission and distribution activities in the two markets represent 'an unprecedented investment opportunity.' By contrast, Iberdrola sees little incentive to invest in its home market of Spain. Antitrust regulator CNMC has proposed increasing network returns to 6.46%, but that remains below the level of other European countries. That proposal gives 'a clearly negative signal to the market,' Iberdrola Chairman Ignacio Galan said Wednesday on an earnings call. The reliability of the Spanish power network has also been questioned in the wake of the nationwide blackout that left millions of people without electricity at the end of April. Iberdrola expects its regulated asset base to triple to more than €90 billion in 2031 from the level in 2020. While investments will grow almost fourfold in the UK and near double in the US, the company's Spanish assets are projected to shrink by 10% to €3.5 billion. --With assistance from Bre Bradham and William Mathis. (Updates with details throughout) Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
23-07-2025
- Business
- Wall Street Journal
Iberdrola to Raise Almost $6 Billion to Support Investments
Iberdrola IBE 0.89%increase; green up pointing triangle said it plans a capital increase of 5 billion euros ($5.88 billion) to support its upcoming investments. The Spanish energy company said Wednesday that it plans an accelerated bookbuilding offering of new shares, with the amount of shares and price to be determined.
