IPO WATCH-

Yaqeen Capital will arrange Saudi Leather Industries’ (SLIC) planned Tadawul IPO process after signing a service provision agreement with the footwear producer, Yaqeen said in a bourse filing. The process will go through multiple stages until regulatory approvals and listing are complete, the filing added. No further information was disclosed.

About SLIC: The Dammam-based company manufactures work, military, and casual footwear, and is a major supplier to Aramco, Saudi Electricity Company, and Sabic, according to its website.

MANUFACTURING-

Asheil Versatile Lighting Technologies secured a land plot at Shaqraa Industrial City to build a lighting manufacturing and technology hub, Zawya reports. The project will be developed by Asheil’s parent companies Versatile International and Haneco Lighting. The planned 6.8k sqm facility will provide high-performance lighting solutions for the Kingdom’s giga-projects, large-scale urban developments, and commercial infrastructure, in addition to creating new jobs.

DEBT WATCH-

Amlak International Finance Company renewed a SAR 1.1 bn shariah-compliant loan with the Saudi Investment Bank (SIB) for an additional year to facilitate business and boost financing ability, Amlak said in a disclosure to Tadawul. Amlak will offer an assignment of receivables to the bank and a promissory note as forms of guarantee. SIB is a substantial shareholder in Amlak.

INFRASTRUCTURE-

#1- The National Water Company (NWC) completed a SAR 460 mn sewage infrastructure project in Riyadh’s Al Najris, according to a statement. The 297-km sewage line has a pumping station with a 55k cbm capacity and will provide services to over 198k residents. Residents can apply for service connections via NWC’s online portal or application.

#2- Qassim’s water network is getting a new upgrade by 2027: NWC plans to award a project in April to boost Qassim’s water network efficiency, Zawya reports, citing an unnamed source. The project, set for completion by late 2027, includes conducting hydraulic studies, installing support networks, and replacing old pipelines to reduce water losses. The tender for the project closed on 5 March.

FOOD-

Al Jouf Agricultural Development and Korea’s EGreen Global (EGG) will establish a specialized laboratory at Al Jouf’s headquarters to produce potato seeds, with operations set to begin by 2Q 2026, Al Jouf said in a disclosure to Tadawul. Al Jouf will also invest SAR 15 mn in EGG through bonds convertible into equity, the disclosure read.

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