Almoosa Health closes up on first day of Tadawul trading

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Supercopa de España semi finals begin at King Abdullah Sports City Stadium

Good morning, wonderful people. It’s a busy Wednesday here in the Kingdom, starting off with back-to-back IPOs after Almoosa Health rang the opening bell yesterday and Nice One is set to begin trading this morning.

HAPPENING TODAY-

#1- Shares of beauty retailer Nice One will begin trading on Tadawul’s main market today, according to a statement from the exchange. Shares can fluctuate within a ±30% range for the first three days, after which price fluctuations will be capped at ±10% as circuit breakers take effect.

REFRESHER- The beauty retailer is selling a 31.5% stake in a SAR 908 mn IPO that will be Saudi’s second major IPO in 2025, following Almoosa Health ’s debut yesterday. Institutional offerings were 139.4x times oversubscribed. The final pricing of SAR 35 per share will give the company a market cap of over SAR 4 bn at listing, and SAR 1.2 bn in proceeds.

#2- Hafar Al Batin Investment Forum 2025 to begin today: The Hafar Al Batin Investment Forum 2025 will kick-off today in the University of Hafar Al Batin in the Eastern Province, state-owned agency SPA reports. It will see the participation of 24 governmental and private entities, aiming at investment opportunities and sustainable development in Hafar Al Batin.

#3- Supercopa de España semi finals kick off today at the King Abdullah Sports City Stadium in Jeddah. All matches start at 10pm. Here’s the schedule:

Real Madrid vs. Mallorca (today);
Athletic Club vs. Barcelona (tomorrow);
Final match (Sunday, 12 January).

⚠️WEATHER UPDATE- Rain continues to sweep across the Kingdom today. In Riyadh, expect a high of 18°C and a low of 11°C, while Madinah will hit 19°C, and also drop to 11°C. Over in Dammam, things will warm up to 21°C before cooling down to 14°C.

WATCH THIS SPACE-

#1- Riyad Bank’s additional tier 1 capital sukuk issuance kicked off yesterday, with the bank beginning to receive subscriptions, according to a disclosure to Tadwul. The SAR-denominated, perpetual offering — part of a SAR 10 bn sukuk program — is being carried out via private placement, targeting institutional and qualified investors. Subscription will wrap up on 16 January.

The details: Investors can subscribe to the issuance at a minimum of SAR 250k of sukuk each. The size and yield of the offering are set to be determined based on market conditions. The lender’s investment and asset management arm Riyad Capital was tapped earlier this week as the sole lead manager for the offering.

#2- Saudi Arabia and Qatar are reportedly discussing mutual listings on the stock exchanges of both countries, AleIqtisadiah reports, citing anonymous sources. Discussions also probed forming strategic partnerships between companies from both countries.

#3- Tadawul-listed HR companies must now meet the HR Ministry’s updated domestic worker quotas, according to statements from various companies to Tadawul (here, here, and here).

The details: The new rules mandate that companies with fewer than 3k workers must have 30% domestic workers, those with 3k-10k must have 20%, 10k-15k must have 10%, and companies with over 15k workers are no longer required to maintain a specific percentage.

#4- PIF-backed Lucid Motors has become the first global automaker to bear the “Made in Saudi” badge, after joining the program, it said in a post on Linkedin. The move comes as the luxury EV maker prepares to ramp up production at its King Abdullah Economic City facility, set to roll out 155k EVs annually at full capacity.

ICYMI- Lucid exceeded expectations in 4Q, with vehicle deliveries growing 78% y-o-y to 3.1k vehicles, Reuters reports. Production surged 42% to 3.4k vehicles during the quarter. Lucid is scheduled to release its 4Q results on Tuesday, 25 February.

#5- The PIF-backed LIV Gold league is making its way back to Trump National Doral in April 2025, marking the first event held at a Trump property during Donald Trump’s presidency, the New York Times reports. The USD 2 bn PIF-sponsored tournament has been a regular partner of Trump properties since its launch in 2021.

IN CONTEXT- The arrangement is one of many business partnerships between the Kingdom and Trump’s business empire, extending beyond golf into real estate, with projects in Riyadh, Jeddah, and Dubai in partnership with Saudi developer Dar Al Arkan.

DATA POINT-

Consumer spending via point-of-sale transactions in the Kingdom grew 9.2% w-o-w for the week ending 4 January at SAR 15.1 bn, according to the Saudi Central Bank’s (Sama) weekly POS report (pdf). Meanwhile, the number of transactions was up 6.1% at 224.9 mn.

The breakdown: Beverages and food saw the highest spending during the week, growing 3.9% w-o-w at SAR 2.2 bn, followed by restaurants and cafes at SAR 2.1 bn, up 10.1%. Meanwhile, Riyadh had the highest value of PoS transactions at SAR 5.1 bn, followed by Jeddah at SAR 2.1 bn.

OIL WATCH-

Opec sees production dip in December, driven by UAE cuts: Opec’s crude output dropped in December by 120k bbl / d to 27.05 mn bbl / d, primarily on the back of supply cuts from the UAE, according to a Bloomberg survey. The UAE slashed its production to about 3.2 mn bbl / d and trimmed oil exports to an 18-month low. The decline in these allocations is expected to continue throughout January and February, companies set to receive the shipments told Bloomberg.

REMEMBER- State-run Abu Dhabi National Oil Company (Adnoc) reportedly decreased crude oil cargo allocations for certain Asian customers, cutting volumes by up to 230k bbl / d across various grades, in a bid to adhere to Opec+’s strategy to stabilize market prices. A plan to hike the UAE’s quota by an additional 300k bbl/d was also postponed to April 2025, after Opec+ decided to delay a planned increase in production last month. The UAE has been hoping to increase its capacity, and is on track to hit its 5 mn barrels per day (bbl / d) oil capacity target — originally set for 2027 — by the end of 2025 or early 2026.

SPORTS-

#1- Saudi Arabia will host the next Asian Football Confederation (AFC) Cup on 7 January 2027, state news agency SPA reports. The tournament, which wraps up on February 5, will take place across eight stadiums in Riyadh, Jeddah, and Khobar, including King Fahd Sports City Stadium in Riyadh and King Abdullah Sports City Stadium in Jeddah.

#2- Riyadh will host the 39th WWE Royal Rumble in January 2026, part of Riyadh Season, marking the first time the event is held outside of North America, according to a statement. The WWE flagship event will be organized in collaboration with Saudi Arabia’s General Entertainment Authority.

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THE BIG STORY ABROAD-

It’s a busy morning in the foreign press, with a wide-ranging press conference from US president-elect Donald Trump, along with updates on the latest round of Israel-Hamas ceasefire talks, and news from Meta, Nvidia, and Anthropic getting plenty of ink.

#1- More threats of tariffs and annexation from Trump: Trump said he could use economic — and possibly military — action to acquire Greenland and take control of the Panama Canal, threatening to tariff Denmark “at a very high level” if it refuses, and separate tariffs on Mexico and Canada, which it also said it could annex through “economic force.” Outgoing Canadian Prime Minister Justin Trudeau took to X later to say “There isn’t a snowball’s chance in hell that Canada would become part of the United States,” in response to Trump’s comments.

Trump also revealed a USD 20 bn investment planned by Emirati developer Damac Properties in US data centers, saying Damac’s founder Hussain Sajwani was inspired by Trump’s election to make the commitment. Sajwani said he’d been waiting four years to ramp up investments in the US.

The press conference got a lot of ink: FT | Reuters | NPR | AP | CNN

#2- Also from Trump Land, his new Middle East envoy Steve Witkoff said he is “hopeful” for some good news from the Israel-Hamas ceasefire talks taking place in Doha before Trump’s inauguration on 20 January, Reuters quotes him as saying. Trump again threatened that “all hell will break out in the Middle East" if Hamas does not release the hostages by the time he takes office during his presser.

PLUS- Several stories on the tech and AI front are making the rounds:

Facebook owner Meta shelved a US fact-checking program and curbed restrictions on discussions around contentious topics on its platforms in response to pressure from conservatives. (Reuters)
Nvidia’s shares slid 6.2% after an unveiling of a new product lineup — including a new USD 3k desktop PC — failed to reassure investors about a near-term return. (Bloomberg)
AI startup Anthropic is closing in on a USD 2 bn investment that would value it at USD 60 bn, only two months after securing an additional USD 4 bn investment from ecommerce giant Amazon. (WSJ)

Almoosa Health shares rise 15% on Tadawul debut

Almoosa Health’s shares climbed 15.0% on their first day of trading on Tadawul’s main market yesterday, closing at SAR 146.0 apiece, according to market data. The shares hit an intraday high of SAR 165.0 apiece (+18.2%) before paring gains. Tadawul rules allow shares to trade within a ±30% band on the first three days of trading. Starting from the fourth day of trading, that band is capped at no more than 10% up or down before circuit breakers kick in.

REFRESHER- The Al Ahsa-based hospital operator took a 30% stake to market at SAR 127.0 per share. The IPO’s pricing saw the firm lock in nearly SAR 1.7 bn in proceeds, and gave it a market cap of SAR 5.6 bn at listing.

ADVISORS- Our friends at EFG Hermes are underwriters and bookrunners on the transaction, alongside Banque Saudi Fransi Capital, which is also acting as the lead manager and financial advisor. PwC is financial due diligence advisor as well as market consultant, while Latham and Watkins is providing counsel. Moelis is advising the selling shareholders.

FinMin’s USD 12 bn international bond issuance was 3x oversubscribed

FinMin closed a USD 12 bn (SAR 45 bn) international bond issuance, its first of the year, the National Debt Management Center said in a statement. The issuance was 3x oversubscribed, booking some USD 37 bn in orders, and comes as part of the government’s Global Medium-Term Note Issuance Program that aims to diversify the Kingdom’s creditor base by tapping fresh foreign lenders.

The bond issuance was divided into three tranches:

A 3-year tranche valued at SAR 18.75 bn (USD 5 bn), set to mature in 2028;
A 6-year tranche valued at USD 3 bn (SAR 11.25 bn), set to mature in 2031;
A 10-year tranche valued at USD 4 bn (SAR 15 bn), set to mature in 2035.

Yields were reportedly priced at 5.18% for the three-year tranche, 5.44% for the six-year tranche, and 5.73% for the 10-year tranche, according to Bloomberg.

ADVISORS- Citigroup, Goldman Sachs Group, and JPMorgan Chase reportedly managed the offering.

IN CONTEXT- Finance Minister Mohamed Jadaan approved the Kingdom’s borrowing plan for FY 2025 earlier this week, which outlined a requirement for some SAR 139 bn in new public debt. The targeted amount is intended to bridge an anticipated SAR 101 bn budget deficit penciled in for the new fiscal year, in addition to covering some SAR 38 bn required to meet principals’ repayments for loans maturing during the period. The borrowing spree comes as the Kingdom seeks to take advantage of the interest rate reversal and lower borrowing costs as it looks to fund its diversification agenda while avoiding raising taxes.

ICYMI- The National Debt Management Center (NDMC) also secured a USD 2.5 bn (SAR 9.4 bn) shariah-compliant revolving credit facility earlier this week to support the state budget. The three-year facility sees participation from Abu Dhabi Islamic Bank, Credit Agricole SA and Dubai Islamic Bank.

Aramco’s Wa’ed Ventures leads USD 30 mn investment in Zension Tech

Aramco-backed VC arm Wa’ed Ventures led a USD 30 mn series A round investment in Riyadh-based consumer electronics outfit Zension Technologies, according to a post on X. The round saw participation from Japanese conglomerate Sumitomo Corp. and Dubai-based Global Ventures. This is the first strategic investment that Sumitomo made in the GCC, according to a press release. Founded in 2018, Zension provides customers with warranties, trade-in options, and subscription-based tech upgrade services for their devices.

The pitch: The company aims to extend the lifespan of smartphones. “Smartphones have at least a seven-year lifespan but, on average, are used for just three — and with more than five bn phones being thrown away every year, that’s a big problem to fix,” said Khalid Saiduddin, co-founder and CEO of Zension.

Where is the money going? The funding will be earmarked for launching Zension’s new service, Zaam, which is set to launch before April here and in the UAE. “With Zaam, Zension brings these same benefits to personal tech offering the chance to upgrade and experiment with new or different models, switch regularly and enjoy [no-cost] repairs, all at a lower price than traditional installment or buy now, pay later plans.”

Big market: Zension claims that Saudi Arabia is the largest device market in the region, with over 15 mn smartphones sold annually, while the GCC has the fastest upgrade cycle globally.

IN OTHER STARTUP NEWS-

#1- Saudi buy-now-pay-later (BNPL) startup JeelPay secured a SAR 25 mn investment in a pre-Series A round led by Riyadh-based Joa Capital, Al Jazira Capital and other angel investors, according to a post on X. The capital raised will be used to fund its expansion and develop educational fintech solutions.

About JeelPay: Founded in 2021, JeelPay offers financial solutions in the education sector. Through its "study now, pay later" model, it allows students and parents to pay their tuition fees and other educational expenses by deferred payments.

#2- Singapore-based VC Orbit Startups and PIF-owned Sanabil Investments launched a Saudi-based early-stage startup accelerator, they said in a joint statement. The Sanabil Accelerator by Orbit offers USD 100k in pre-seed funding, a four-month training program, and lifetime access to a network of mentors and investors, focused on high-growth sectors including fintech, healthcare, e-commerce and logistics.

#3- Saudi-based home renovation outfit Revie closed a USD 2.5 mn seed funding round, led by Stryber’s Sanabil Venture Studio, according to a press release. The startup said it will use the funds to scale its operations, and improve customer experience by addressing market pain points like cost uncertainties, delays and quality control.

Real estate loans from financial institutions hit SAR 28 bn in 3Q 2024

Real estate loans provided by financial institutions were up 3.3% y-o-y at SAR 28 bn (USD 7.46 bn) in 3Q 2024, according to data from the Saudi Central Bank (Sama). The figure is an all-time high, according to Asharq Al Awsat. Retail real estate loans accounted for the lion’s share at SAR 22.9 bn, while the remainder (SAR 5.1 bn) were loans to corporations.

Mortgages are also on the rise: Total mortgage loans from commercial banks increased 13.3% during the period at SAR 846.5 bn (USD 225 bn). Retail mortgage loans increased 11% to SAR 657 bn, accounting for 77.6% of the total, while corporate mortgage lending rose 21.9% at SAR 189.6 bn.

A good year ahead for mortgages? The local mortgage financing market is projected to grow 12% y-o-y in 2025, on the back of robust demand for mortgages, Arbah Capital’s Senior Director of Asset Management Mohammed Al Farraj told Asharq Al Awsat. The growth is expected to be driven by lower interest rates, growing consumer confidence and purchasing power, government-backed housing policies, an increase in real estate products, and higher demand for housing, Al Farraj added.

IN CONTEXT- The government is rolling out policies — including buyer-friendly mortgages — as it looks to achieve a 70% home ownership target by 2030, but the Kingdom also needs to build out an additional 1.2 mn housing units by 2030 in order to meet that goal. Cityscape Global concluded in November with SAR 230 bn in real estate agreements, including SAR multi-bn investments by PIF-backed Roshn, the National Housing Company, and the Real Estate Development Fund to promote home ownership.

Domestic tourism gains in 2024 on budget stays, cheap flights

Domestic tourism accounted for over 40% of the Kingdom’s total travel activity in 2024, marking an 11% boost in its share of total tourism compared to the previous year, according to Almosafer’s tourism trends report (pdf), which cites low-cost accommodation and air travel options as key drivers of growth.

By the numbers: Domestic booking volumes were up 44% y-o-y in 2024, with family (+72%) and group travel (+76%) making up the bulk of the increase, Almosafer said.

What they said: “The growth of domestic tourism and the rise of family and group trips, with a focus on unique accommodation experiences and rich in-destination activities, showcases the success of the national agenda of building a thriving leisure tourism sector that contributes significantly to the economy,” said Almosafer CEO Muzzammil Ahussain.

The up-and-coming locales: Abha, Al Jubail, Hail, Tabuk and Jizan are gaining traction among the locals, alongside staples like Makkah, Riyadh, Jeddah, Al Khobar and Madinah, which have emerged as the Kingdom’s top travel destinations last year, according to the report.

Budget stays are picking up steam: Family bookings in budget accommodations (3-star and below) were up 95% with group bookings more than doubling over the same period, as the budget segment accounted for 35% of all booked room nights in 2024, up two percentage points from the previous year.

High-end is still on top: 5-star luxury stays made up 36% of all bookings in 2024 (down one percentage point compared to 2023) while 4-star stays accounted for the remaining 29%, up two percentage points over the same period.

Low fares are the new go-to: Low-cost airlines are also driving growth in domestic tourism with flight segments growing 45% y-o-y while the average ticket value dropped 7% compared to 2023.

Clicks over counters? App bookings accounted for 76% of all trip reservations in 2024, up from 67% in 2023. Meanwhile, retail bookings made up only 7% of total bookings — down 3.3 percentage points — while web bookings fell 5.7 percentage points to account for 17% of total bookings.

Payment trends are also shifting: Buy-Now-Pay-Later (BNPL) transactions jumped 940% y-o-y in 2024, reflecting the rise of flexible payment options and mobile-first booking. Some 44% of all domestic transactions were made through Apple Pay last year.

Cabinet signs off on amendments to traffic rule penalties

The council of ministers approved amendments to the traffic system penalties for driving with an expired license, and a new petroleum and petrochemical law in its first meeting of 2025 yesterday, state news agency SPA reports.

The newly-approved Petroleum and Petrochemical Law is set to ensure a reliable supply of products, optimize raw material usage, and localize the value chain for these substances, the Energy Ministry said in a post on X. The legislation replaces the existing Petroleum Products Trade Law, providing a more investment-friendly framework to oversee operations like distribution and transportation of petrochemical products.

Cabinet also signed off on measures to promote economic transparency, including providing financial support for the Center for Environment and Development for the Arab Region and Europe (CEDARE) and finalizing fiscal accounts for key agencies like the Saudi Industrial Development Fund and the National Center for Non-Profit Sector Development.

A new vaccine center: The council of ministers also assigned King Abdullah University of Science and Technology the task of setting up the Saudi Center for Vaccines and Protein Therapeutics — a move set to bolster domestic biopharma ambitions.

On the international front, the council of ministers signed off on multiple MoUs, including one with Uruguay in sports, Morocco in healthcare, and Qatar in digital government, as well as a cooperation pact with India on accounting and auditing.

Omrania lands USD 113.6 mn architecture + design contract from Diriyah

MEGAPROJECTS

The PIF’s Diriyah Company awarded a USD 113.6 mn architecture and design contract to Riyadh-based Omrania, according to Zawya. The agreement will see Omrania designing and overseeing the development of buildings across three community areas within Diriyah’s Boulevard District. No timeline for the project was given.

DEBT WATCH-

Riyadh-based Filling andPacking Materials Manufacturing Co. (Fipco) lined up a SAR 50 mn shariah-compliant revolving loan with Al Rajhi Bank, it said in a filing to Tadawul. The one-year facility will be used to finance the company’s working capital.

INS.-

Liva Ins. received a Baa2 IFSR rating from Moody’s with a positive outlook, it said in a disclosure to Tadawul. A strong capital base, good asset quality, healthy reserves, and solid profitability underpinned Moody’s rating. Additionally, Liva Ins. was assigned a Governance Issuer Profile Score (IPS) of G-2 by Moody’s, backed by strong governance, conservative financial strategy and risk management, and involvement from key shareholders, Liva Group and Riyad Bank.

INFRASTRUCTURE-

#1- PIF’s National Water Company awarded Germany’s Dorsch Global a SAR 800 mn engineering consultancy contract to oversee water and wastewater projects across the Kingdom, it said in a press release. The five-year agreement will see Dorsh manage some 253 domestic projects into two clusters, the southern region valued at SAR 490 mn, and the northwestern region worth SAR 336 mn.

#2- Investors can now file proposals for the development of two sewage treatment plants in Makkah to the Saudi Water Partnership Company, which is seeking bidders for the public-private partnership projects, according to a statement from the company. The plants are expected to start commercial operations in 2028.

FARMING-

Tanmiah’s subsidiary set to build 100 broiler houses with a Chinese firm: Tanmiah Food’s subsidiary Agricultural Development Company signed a SAR 165 mn contract with China’s Chengdu Design and Research Institute of Building Materials Industry Co. (CDI) to build 100 poultry broiler houses starting this month, according to a disclosure to Tadawul. The contract will be financed through a long-term deferred payment plan, with completion expected by December 2026, and commercial production slated for January 2027.

AVIATION-

Saudia will start operating Airbus A320 flights to the UK in March, Simple Flying reports. The 110-seat carrier is scheduled to operate on the 3.9k km route connecting Neom Bay to Gatwick. Saudia has seven aircraft with the same capacity.

EUR stands to hit USD parity with the USD following Trump’s return

The EUR is teetering towards parity with the USD, Bloomberg reports citing numerous analysts who warn that the currency could drop further following US president-elect Donald Trump’s inauguration this month. “We’re not far off so it could happen very quickly,” senior strategist at BNY Geoffrey Yu said, adding that “parity is inevitable.”

Where we’re at: The EUR tumbled over 7% since September 2024, recently touching a more-than-two-year low at USD 1.0226. “Sentiment could not be worse,” head of G-10 FX spot trading at Nomura Antony Foster said. The EUR has hit USD parity a small handful of times in its 25 years of existence, Bloomberg notes, most recently in 2022 after Russia launched its invasion of Ukraine.

Options markets suggest a 40% chance that the EUR will hit parity with the greenback in 1Q 2025, with contracts targeting parity gaining over the last week. JPMorgan also expects that parity could be realized this quarter, with Wells Fargo expecting the threshold to occur during the second quarter. Other analysts expect it to happen as soon as this month.

What’s behind the approaching parity: Analysts including Bank of New York Mellon and Mizhuo point to mounting pressures on Europe which could find itself caught in the middle of a trade war following Trump’s move to the White House. Weak economic growth, aggressive ECB rate cuts compared to a slower approach by the Fed, and political instability also contribute to a bearish outlook on the EUR, Bloomberg explained.

The EUR’s falling value is also related to the strength of the USD, which has been rising over the past several weeks since Trump’s reelection. The USD’s rise is likely triggered in large part by Trump’s plans to impose broad tariffs on imports from several countries (including Canada, Mexico, and China), although the question of whether the currency rally will continue depends on whether Trump follows through on his campaign pledges.

MARKETS THIS MORNING-

Asian markets are broadly in the red in early trading this morning, with the exception of South Korea’s Kospi, which is firmly in the green. Hong Kong’s Hang Seng Index is down more than 0.6%, mainland China’s CSI is down 0.8%, and Shanghai is also down 0.4%. The Kospi is bucking the trend so far and is up 1.3%.

Futures suggest a more positive open for Wall Street later today, with futures for the Dow Jones, S&P 500, and Nasdaq all in the green despite all three indexes falling at the end of trading yesterday.

TASI	12,113	+0.1% (YTD: +0.6%)
MSCI Tadawul 30	1,514	+0.2% (YTD: +0.3%)
NomuC	30,809	-0.2% (YTD: -2.1%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	29,930	-0.8% (YTD: +0.6%)
ADX	9439	+0.1% (YTD: +0.2%)
DFM	5214	+0.5% (YTD: +1.1%)
S&P 500	5909	-1.1% (YTD: +0.5%)
FTSE 100	8245	-0.1% (YTD: +0.9%)
Euro Stoxx 50	5012	+0.5% (YTD: +2.4%)
Brent crude	USD 77.05	+1.0%
Natural gas (Nymex)	USD 3.46	+0.2%
Gold	USD 2665	+0.7%
BTC	USD 96,505.20	-5.1% (YTD: +3.4%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.1% yesterday on turnover of SAR 7.7 bn. The index is up 0.6% YTD.

In the green: Almoosa (+15%), Almawarid (+10%) and Saudi Re (+9.2%).

In the red: Albaha (-4.4%), Cenomi Retail (-3.2%) and Chemanol (-2.6%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.2% yesterday on turnover of SAR 44 mn. The index is down 2.1% YTD.

In the green: Sure (+8.3%), Alhasoob (+6.6%) and Pan Gulf (+5.1%).

In the red: SPC (-9.7%), Amwaj International (-8.0%) and AlBabtain Food (-7.4%)

CORPORATE ACTIONS

Riyadh Development has lined up Capital Market Authority approval to hike its capital up to SAR 2.3 bn from SAR 1.8 bn, by way of issuing new shares, according to a statement by the authority. The move will allow the firm to acquire two real estate assets from Remat Riyadh Development.

Glass and ceramics maker Raoum Trading issued its main market transfer document(pdf) after acquiring final approval from the Saudi Exchange. Trading of Raoum's shares on Nomu continued until the transfer document’s release, following which trading has been temporarily suspended for up to five sessions to finalize the move. Raoum submitted its transfer request back in June 2024.

CALENDAR

JANUARY 2025

1-17 January (Wednesday-Friday): 2025 Dakar, Bisha and Shubaytah.

7-9 January (Tuesday-Thursday) Saudi Tourism Forum, Riyadh Front, Riyadh.

8-12 January (Wednesday-Sunday): Supercopa de España, King Abdullah Sports City Stadium, Jeddah.

9 January (Thursday): Deadline to submit applications for the Saudi Capital Market Awards.

12 January (Sunday): Launch ceremony of the standard incentives for the industrial sector.

13-16 January (Monday-Thursday): Hajj Conference and Exhibition, Superdome, Jeddah.

14-16 January (Tuesday-Thursday): Future Minerals Forum, King Abdulaziz International Conference Center, Riyadh.

15-16 January (Wednesday-Thursday): The International Learning and Technology Conference, Effat University, Jeddah.

18 January (Saturday): Deadline for companies to amend status under the New Companies Law.

21 January (Tuesday): Data Center Nation, Mandarin Oriental Al Fasisaliah, Riyadh.

21-23 January (Tuesday-Thursday): The International Exhibition for Material Handling, Equipment, Warehouse Supplies, Forklifts & Heavy Equipment, Riyadh International Exhibition Center.

21-23 January (Tuesday-Thursday): Saudi International Exhibition for E-Marketing and E-Commerce, Riyadh International Convention and Exhibition Center.

24-25 January (Friday-Saturday): UIM E1 World Championship Jeddah, Jeddah.

25 January (Saturday): The opening of the 2025 Islamic Arts Biennale, Western Hajj Terminal of King Abdulaziz International Airport, Jeddah

27-29 January (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

27-29 January (Monday-Wednesday): Saudi Franchise Expo, Riyadh International Convention and Exhibition Center.

28-29 January (Tuesday-Wednesday): Federal Open Market Committee meeting.

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh.

29-30 January (Wednesday-Thursday): Global Labor Market Conference, Riyadh.

31 January (Friday): Deadline for businesses to update their registered customs items.

1Q: BinDawood Holding expected to close 100% acquisition of Zahrat Al Rawdah Pharma

1Q: Roshn expected to raise SAR 2.6 bn from international bank

FEBRUARY 2025

1 February (Saturday): UFC Fight Night: Adesanya vs Imavov, The Venue, Riyadh.

2 February (Sunday): Flyadeal launches direct flights to Karachi, Pakistan, departing from Riyadh and Jeddah twice a week.

3-5 February (Monday-Wednesday): Saudi International Marine Exhibition (SIMEC), Riyadh.

4-5 February (Tuesday-Wednesday): The RLC Global Forum, Riyadh.

4-5 February (Tuesday-Wednesday): Capital Markets & ESG Finance, Hilton Riyadh Hotel & Residences.

6 February (Thursday): Property registration deadline for owners in several districts of seven Qassim cities.

6-8 February (Thursday-Saturday): LIV Golf season opener, Riyadh Golf Club, Riyadh.

8 February (Saturday): Sotheby’s first auction in the Kingdom, Diriyah.

9-12 February (Sunday-Wednesday): LEAP Tech Conference, Malham, Riyadh.

9-12 February (Sunday-Wednesday): DeepFest by Leap, Riyadh.

10-12 February (Monday-Wednesday): Saudi Travel Market, Riyadh International Exhibition Center.

10-13 February (Monday-Thursday): Leap 2025, the Kingdom’s premier tech investment conference.

14-15 February (Friday-Saturday): Formula E, Diriyah.

15-18 February (Saturday-Tuesday): Week one of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

16-17 February (Sunday-Monday): AlUla Conference for Emerging Market Economies, AlUla.

18 February (Tuesday): The Capital Markets Forum, KAFD Conference Centre, Riyadh.

19-20 February (Wednesday-Thursday): The Capital Markets Forum, The Four Seasons, Riyadh.

19 February (Wednesday): Derayah REIT dividend distribution.

19-21 February (Wednesday-Friday): Saudi Media Forum, Riyadh.

21-22 February (Friday-Saturday): The Saudi Cup, Riyadh.

22 February (Saturday): Founding Day.

22 February (Saturday): Dazn Boxing event: Beterbiev vs Bivol II, Riyadh.

23-27 February (Sunday-Thursday): Riyadh International Disputes Week, Hilton Riyadh Hotel Granada.

24-25 February (Monday-Tuesday): The Riyadh International Humanitarian Forum, Riyadh.

24-27 February (Monday-Thursday): Week two of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

MARCH 2025

1-30 March: Ramadan.

18-19 March (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

31 March- 3 April (Monday-Thursday): Eid Al Fitr.

APRIL 2025

7-9 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh.

3-20 April (Thursday-Sunday): AFC Asian U17 Cup.

14-16 April (Monday-Wednesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

18-20 April (Friday-Sunday): Saudi Arabian Grand Prix, Jeddah,

21-24 April (Monday-Thursday): Saudi Food Exhibition and Conference, Riyadh.

22-23 April (Tuesday-Wednesday): AAM Middle East, Riyadh.

25 April- 4 May (Friday-Sunday): AFC Champions League Elite Finals

MAY 2025

6-7 May (Tuesday-Wednesday): Federal Open Market Committee meeting.

12-15 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh International Convention & Exhibition Center.

13-14 May (Tuesday-Wednesday): Global EV & Mobility Technology Forum, The Arena, Riyadh.

23 May (Friday): Guns N’ Roses Show, Riyadh.

31 May-5 June (Saturday-Thursday): Hajj.

JUNE 2025

6-9 June ( Friday-Monday): Eid al-Adha.

17-18 June (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

26 June (Thursday): 2024-2025 academic year ends.

JULY 2025

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

29-30 July (Tuesday-Wednesday): Federal Open Market Committee meeting.

AUGUST 2025

5-17 August (Tuesday-Sunday): Fiba Asian Cup.

SEPTEMBER 2025

15-17 September (Sunday-Tuesday): Money 20/20 Middle East, Riyadh.

17-18 September (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER 2025

28-29 October (Tuesday-Wednesday): Federal Open Market Committee meeting.

NOVEMBER 2025

3-9 November (Monday- Sunday): WTA Tour Finals.

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh Front Convention & Exhibition Centre, Riyadh.

27-30 November (Thursday-Sunday): The World Rally Championship (WRC), Jeddah.

DECEMBER 2025

December: The Fortune Global Forum 2025, Riyadh.

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

26-29 October (Monday-Thursday): World Energy Congress, Riyadh.

2027

The World Water Forum takes place in Riyadh.

The Ocean Race finishes in Amaala on the Red Sea.

Riyadh-Kudmi transmission line to be completed.

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