Saudi Aramco’s Luberef to start trading this week
Saudi oil giant Aramco’s base oil supplier Luberef will debut on the Saudi Stock Exchange (Tadawul) this week. The company will list and trade its shares on the main market on Wednesday, December 28, with the symbol 2223, Tadawul said. Luberef will have a daily price fluctuation limit of 30% during the first three days […]
Saudi: Bupa Arabia’s shareholders approve 25% capital raise
The shareholders of Bupa Arabia for Cooperative Insurance Company agreed to increase the capital by 25% to SAR 1.50 billion from SAR 1.20 billion. The Tadawul-listed firm will capitalise SAR 300 million from the retained earnings account by granting one bonus share for every four owned shares, according to a bourse disclosure. Meanwhile, […]
Saudi Aramco set to enter Kenya with Valvoline acquisition
Oil giant Saudi Aramco is set to enter the Kenyan market by acquiring US motor oil and lubricants group Valvoline, Business Daily reported. The Competition Authority of Kenya (CAK) has given its approval to Aramco Overseas Company, the investment arm of Saudi Aramco, to acquire the Kenyan operations of VGP Holdings as part of the global […]
Saudi: Edarat Communication mulls 100% capital raise via bonus shares
The board of Edarat Communication and Information Technology Company recommended a 100% capital increase to SAR 12.60 million from SAR 6.30 million, according to a bourse filing. In order to carry out the capital hike transaction, the company will capitalise SAR 6.30 million from the reserves and retained earnings accounts by granting one bonus share […]
Saudi Arabia, Japan sign 15 agreements to boost investments
Saudi Japanese Investment Forum witnessed on Monday the signing of 15 agreements between the two countries, according to Minister of Investment Khalid Al-Falih. The agreements included memorandums of understanding in the fields of artificial intelligence (AI), sports, finance, banking, polyester recycling, agriculture, food, industry, manufacturing, trade, energy, digitization, smart cities and personalization. On the sidelines […]