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FINANCIAL SERVICES-
UIHC set up new fintech firm with Egypt’s Nowpay: Our friends at the United International Holding Company (UIHC) — owner and operator of the Tas’heel brand name — partnered with Egyptian fintech company Nowpay to establish Now Access, a Saudi-based fintech focused on payroll administration and processing services, according to a disclosure to Tadawul on Sunday. The company has an initial capital of SAR 10 mn, with UIHC owning 75% of the firm, while NowPay owns the remainder.
We knew this was coming: UIHC inked an MoU with Nowpay in January to form the company with a total planned investment of SAR 75 mn.
LOGISTICS-
The Saudi Ports Authority (Mawani) added the IM2 shipping service, operated by Emirates Line and Wan Hai, to Jeddah Islamic Port, it said in a statement yesterday. The new service — with a capacity of 2.8k TEUs — will connect the port to the ports of Mundra in India, Alexandria in Egypt, and Mersin in Turkey.
ICYMI- Mawani has recently added four new shipping services to Jeddah Islamic Port, including CMA CGM’s MEDEX with a capacity of 10k TEUs, SeaLand’s WARM with a handling capacity of up to 600 TEUs, 5CX with a 1.5k standard container capacity, and RESIN with a 1k standard container capacity.
M&A WATCH-
#1- Dubai-based Global Fertility Network (GFN) acquired a controlling majority stake in HealthPlus Fertility Center in Jeddah, with plans to rename the company under its IVF brand Bnoon, it said in a press release. The facility is part of an investment scheme worth more than SAR 100 mn that also included the acquisition of Bnoon IVF Center in Riyadh earlier this year, raising the company’s capacity to 5k IVF cycles per annum.
About GFN: GFN provides fertility services, aiming to create a network of fertility and reproductive genetics centers across the Middle East. In 2025, the company acquired two fertility centers in Riyadh and Jeddah and is currently developing a new facility in North Riyadh.
#2- Ajlan& Bros Holding is selling its stake in Riyadh-based Diarona District EnergyCompany (DIDC) to United District Energy International Company (UDIC), a subsidiary of Qatar-based United Development Company (UDC), according to a disclosure to Qatar Stock Exchange. The sale is part of a broader agreement in which UDIC is set to secure full ownership over DIDC.
ICYMI- Ajlan is rebuilding its portfolio: Ajlan & Bros Holding inked a share purchase agreement to sell its entire stake in the water bottling firm Pure Beverages Industry Company (PBIC) to Almarai for SAR 1.04 bn.
