M&A WATCH-

#1- UAE-based Burjeel Holdings acquired a 100% stake in Riyadh’s PhysioTrio Physiotherapy Center through its subsidiary, Burjeel Arabia, it said in a press release on Thursday. Burjeel will integrate the center — which specializes in sports rehabilitation and has contracts with the Sports Ministry — into its expanding PhysioTherabia network in the Kingdom. Financial details remain undisclosed.

Background: Burjeel launched PhysioTherabia in 2023 in partnership with Leejam Sports, with a network that now includes 30 sports rehabilitation and physical therapy centers across the Kingdom, including eight new centers in Riyadh, Jeddah, Dammam, Al Khobar, and Yanbu inaugurated last year.

More to come? The firm wants to grow its PhysioTherabia network to 60 facilities, a spokesperson from Burjeel told EnterpriseAM in response to emailed questions.

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#2- Thimar Development Holding reduced its stake acquisition in the Yamama Plus Serviced Apartments to 22%, it said in a disclosure to Tadawul last Thursday. The transaction will be settled with the transfer of investments in the Osool and Bakheet Al Arba’a Fund to develop Yamama City Center.

IN CONTEXT- Thimar signed an agreement to buy a 26% stake in the Yamama Plus Serviced Apartments in April) valued at SAR 9 mn in exchange for a SAR 7.6 mn in-kind consideration and SAR 1.4 mm in banknotes.

IPO WATCH-

Al Modawat picks advisor for main market move: Al Modawat Specialized Medical Company appointed Estidamah Capital as its financial advisor to manage its planned move from the parallel market Nomu to the main market Tadawul, according to a disclosure to Tadawul published on Thursday. The shift is subject to regulatory approval from Saudi Exchange and the company meeting all listing requirements.

We knew this was coming: The company announced their plans to transition to the main market in June, after it listed a 20% stake on Nomu last year at SAR 111 apiece.

CAPITAL MARKETS-

The Securities Depository Center (Edaa) now offers Omnibus accounts for traded securities in the local capital market, aimed at easing the management of investors’ assets, according to a disclosure to the exchange published on Thursday.

ICYMI- Edaa rolled out a new platform, Edaa Connect, to digitally register all investment funds in February and set to serve as a central hub for subscription and redemption of mutual fund investments to both individual and institutional investors.

INFRASTRUCTURE-

Al Baha rolls out around SAR 1 bn in new projects: Al Baha Governor Prince Hussam bin Saud inaugurated municipal and housing projects worth SAR 238 mn for 2024 and launched new projects for 2025 valued at SAR 768 million, Al Baha Municipality said in on X last week.

REGULATION WATCH-

The Capital Market Authority (CMA) approved the Final Clearing Regulation and related financial collateral involving financial market institutions, it said in a statement on Thursday. The regulation ensures that qualified financial contracts remain enforceable even if one party defaults or faces bankruptcy, aiming to enhance financial stability and protect investor rights. It also defines the scope of application, eligible contracts, and exemptions from bankruptcy laws.

RETAIL-

Americana to bring Carpo stores to Gulf markets: Tadawul and ADX-listed F&B giant Americana Restaurants International signed an exclusive franchise agreement with Greece-based premium food brand Carpo to open and operate its stores in Kuwait and Qatar, with plans to expand to the Kingdom and Bahrain, according to a press release. The first flagship locations are expected to launch by late 2025.

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