Latest news with #TASI
Argaam
2 days ago
- Business
- Argaam
SMC retail IPO 1.5x covered; 10 share/subscriber
Specialized Medical Co. (SMC) successfully completed of its retail subscription for listing on the Main Market (TASI), SNB Capital said in a statement to Tadawul. SNB Capital and EFG Hermes KSA are the lead manager, financial advisor, bookrunner, and underwriter for the potential initial public offering (IPO). As many as 317,820 retail investors subscribed to the offering at a final price of SAR 25 per share, with total retail requests of nearly SAR 542.2 million. The IPO was 1.45x covered. Individual investors will receive a minimum of 10 shares each, while rump shares will be allocated on a pro-rata basis based on the size of each individual investor's request compared to the total remaining subscribed shares, at an average allocation factor of 63.9%. According to data compiled by Argaam, retail investors subscribed during June 15-16, to 15 million shares of SMC at SAR 25 per share, which was determined through the book-building process. SMC offered 75 million shares, representing 30% of the company's SAR 250 million capital divided into 250 million shares at SAR 1 each, on the Main Market (TASI).
Arabian Post
2 days ago
- Business
- Arabian Post
Saudi CMA Sets Stage for Three Exclusive IPOs
Saudi Arabia's Capital Market Authority has greenlit three initial public offerings on the Tadawul Parallel Market, signalling sustained investor interest and broadening of the kingdom's capital markets. The regulator authorised offerings for Zahr Al Khuzama Aluminium Company, Quality Education Company and Sahat Almajd Company Trading on 18 June 2025. The combined volume of shares to be sold stands at approximately 6.175 million, constituting stakes ranging from 11 to 20 per cent in the respective firms. Zahr Al Khuzama will float 300,000 shares, Quality Education 2.5 million, and Sahat Almajd 4.375 million shares. Each IPO is exclusively targeted at qualified investors, with prospectuses scheduled for publication ahead of the offers. The approvals, valid for six months, reflect the CMA's intent to diversify offerings while maintaining regulatory oversight. ADVERTISEMENT Nomu has attracted increasing interest as a gateway for smaller and mid‑cap companies to access Saudi capital. This latest round of approvals follows 11 offerings already listed or in the pipeline this year, marking a notable shift in focus toward smaller enterprises beyond the main exchange, Tadawul. The Zahr Al Khuzama float presents an opportunity to inject fresh capital into the aluminium sector, aiding its expansion and supporting the kingdom's industrial ambitions under Vision 2030. Its 20 per cent stake opening is likely to appeal to investors seeking exposure to commodities and D‑rated industries known for cost‑efficiency. Quality Education's offering, also at 20 per cent, underscores Saudi Arabia's emphasis on educational infrastructure and services. As the kingdom continues investing in human capital, this listing responds to rising demand for quality educational provisions. Meanwhile, the 11.11 per cent offering by Sahat Almajd Company Trading—whose operations lie in trading goods and services—may serve as a bellwether for investor appetite in more diversified commercial ventures transitioning toward public ownership. Regulatory constraints limit participation to qualified investors, aiming to ensure market stability and prevent speculative retail activity. This aligns with other recent IPO frameworks, including the Hawyia Auction Co float, which resulted in daily price fluctuation limits and standard listing protocols on Nomu. The prospectuses, expected to provide comprehensive financial, operational and ownership disclosures, are anticipated to feature standard risk disclosures and corporate governance details. As an approved offering does not equate to an investment endorsement, the CMA is ensuring that qualified investors are aware of their due‑diligence obligations. Markets reacted cautiously. Nomu's index has experienced slight downward variance amid global economic headwinds, but the IPO pipeline may inspire renewed investor confidence. The main index, TASI, closed at approximately 10,591 points—a decline of 1.15 per cent, while Nomu Composite dropped 0.96 per cent on 19 June. Analysts note that the six‑month validity window compels issuers toward timely execution. As such, these companies must complete their share sales and listings before December. Those delays could result in approvals being rescinded. Industry observers interpret this episode as part of a broader strategic push to deepen the Saudi capital market ecosystem, encouraging stronger participation from mid‑tier entities. In parallel, main market IPO activity continues to draw global interest, with high‑profile offerings such as those launched by Umm Al Qura, Entaj and Derayah Financial earlier this year collectively generating over US$1 billion. The parallel market serves a complementary function, offering flexibility and attractively priced entry points for investors comfortable with slightly higher risk profiles in exchange for growth potential. With each qualifying investor required to conduct thorough due diligence, the system reinforces regulatory robustness while supporting ambition among a broader swathe of companies seeking public-market financing. Saudi Arabia's capital markets continue evolving in line with Vision 2030 goals, with both infrastructure and regulatory frameworks maturing to support a more inclusive investor base. The inclusion of newer sectors, such as education and commodities trading, diversifies the market's profile—appealing to both domestic and international investors pursuing new growth corridors amid global volatility.
Argaam
3 days ago
- Business
- Argaam
flynas to make debut on TASI tomorrow
Shares of Saudi Arabian low-cost carrier flynas will begin trading on the Main Market (TASI) tomorrow, June 18, under the symbol 4264 and ISIN Code SA16AH822K19. The stock will trade in the first three days with a daily price fluctuation limit of +/-30% and +/-10% static price fluctuation limits, Tadawul said in a statement. In a separate statement, the Securities Depository Center Co. (Edaa) deposited flynas' subscribed securities into the accounts of eligible shareholders today, June 17. The budget airline offered 51.3 million shares, or 30% of its SAR 1.70 billion capital, to the public. The offered shares represent 33.4% of flynas' pre-increase capital, which amounts to SAR 1.53 billion, divided into 153.43 million shares at a nominal value of SAR 10 each, Argaam earlier reported. The institutional offering was nearly 100x covered, with orders of more than SAR 409 billion. The retail offering was almost 349.7% oversubscribed. The company allocated 10 shares minimum per individual subscriber. The remaining shares were allocated pro rata, at an allocation factor of 12.3%.
Argaam
3 days ago
- Business
- Argaam
flynas to make debut on TASI today
Shares of Saudi Arabian low-cost carrier flynas will begin trading on the Main Market (TASI) tomorrow, June 18, under the symbol 4264 and ISIN Code SA16AH822K19, with a price of SAR 80 apiece. The stock will trade in the first three days with a daily price fluctuation limit of +/-30% and +/-10% static price fluctuation limits, Tadawul said in a statement.
Saudi Gazette
6 days ago
- Business
- Saudi Gazette
Gulf stock markets tumble amid Israel-Iran escalation
Saudi Gazette report RIYADH — Financial markets across the Arabian Gulf and Egypt plunged sharply on Sunday, as escalating military tensions between Israel and Iran triggered widespread selloffs and heightened volatility across the region's stock exchanges. The downturn followed a weekend of intensified hostilities, with both sides exchanging airstrikes since Friday, rattling investor confidence and driving oil prices up nearly 7% by the close of trading on Friday. In Saudi Arabia, the Tadawul All Share Index (TASI) opened down by around 3%, before recovering slightly to close 1.81% lower at 10,647 points. Trading volumes exceeded SR2 billion. Despite the overall market drop, shares in Saudi Aramco rose 1.76%, buoyed by the oil price surge, peaking at SR25.50 on a trading value of more than SR357 million. The Kuwait Stock Exchange experienced the steepest losses, initially falling by 5%, which triggered a temporary trading ended the session down 3.9% at 8,507 points, shedding 348 points. Total trading exceeded 446 million shares, valued at KWD 127.7 stock market suffered one of its worst single-day losses in recent benchmark EGX 30 index fell 6.26% to 30,475 points, while market capitalization lost more than EGP 120 billion within the first 15 minutes of trading, as a wave of panic selling swept the Qatar Stock Exchange index also dropped 2.8% to 10,334 points, and the Muscat Securities Market slid 1.8% to 4,461 points. The Bahrain Bourse recorded a milder decline of 0.7%.
