{"id":86315,"date":"2024-05-20T00:00:00","date_gmt":"2024-05-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=86315"},"modified":"2025-12-14T18:08:44","modified_gmt":"2025-12-14T18:08:44","slug":"saudi-manpower-prices-ipo-at-top-of-the-range","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/saudi-manpower-prices-ipo-at-top-of-the-range\/","title":{"rendered":"Saudi Manpower prices IPO at top of the range"},"content":{"rendered":"<section id=\"86317\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86317\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/we-could-be-days-away-from-a-saudi-us-defense-pact\/\">\r\n                            THIS MORNING: A Saudi-US defense pact is \u201cnearly final\u201d after Jake Sullivan\u2019s stopover in Dhahran                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/we-could-be-days-away-from-a-saudi-us-defense-pact\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Meanwhile, two big aviation events in the capital are driving the agenda here at home, while the eyes of the world wait for news of whether Iran\u2019s president and foreign minister have survived a helicopter crash in the country\u2019s north. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UP FIRST-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- We could be \u201cdays away\u201d from a defense pact with the US<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.cbsnews.com\/news\/us-saudi-arabia-near-potentially-historic-security-deal\/\" style=\"\" rel=\"noopener\">CBS News<\/a> cites an unnamed US official close to the talks as saying, after Crown Prince and Prime Minister Mohammed bin Salman met with US National Security Advisor Jake Sullivan in Dhahran to review a draft of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c45378d6-6545-459c-899f-0e5d24424128\/red-sea-fashion-week-begins-today\" style=\"\" rel=\"noopener\">strategic agreement<\/a>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2105228\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement is now \u201cnearly final,\u201d<\/strong> SPA says, with CBS\u2019 source saying the Crown Prince and Sullivan made \u201ca lot of progress\u201d yesterday. The meeting got ink in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-crown-prince-meets-white-house-national-security-adviser-2024-05-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudi-arabia-us-israel-security-deal-hamas-war-gaza-strip-5b09666aeb6de0573c01e99cabb7946e\" style=\"\" rel=\"noopener\">AP<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The agreement would see Washington provide security assurances to Riyadh, along with cooperation on the development of a domestic nuclear power industry as well as on artificial intelligence and other advanced technologies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do things stand with Israel?<\/strong> It remains unclear whether Tel Aviv will budge on accepting a two-state solution with Palestine, which the Foreign Ministry has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4d43f6ce-8ecc-41b8-8135-0da085f9952c\/\" style=\"\" rel=\"noopener\">made clear<\/a> is a requirement for Saudi to agree to a normalization pact with Israel. After his meeting with the Crown Prince yesterday, Sullivan met with Israeli Prime Minister Benjamin Netanyahu in Jerusalem to underscore the \u201cconstructive\u201d talks in Dhahran \u201cand the potential that may be available for Israel, as well as the Palestinian people,\u201d according to a <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/05\/19\/readout-of-national-security-advisor-jake-sullivans-meetings-in-saudi-arabia-and-israel\/\" style=\"\" rel=\"noopener\">White House readout<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bibi not biting?<\/strong> \u201cThe effort appears to be a non-starter in Israel, with Netanyahu reiterating again yesterday that he would not accept a Palestinian state\u201d and is willing to forego normalization with Saudi, the <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/israel-saudi-ties-in-reach-but-path-to-palestinian-state-a-must-sullivan-tells-reluctant-pm\/\" style=\"\" rel=\"noopener\">Times of Israel<\/a> reports.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- It\u2019s a big week for relations with Japan: <\/strong>Crown Prince and Prime Minister Mohamed bin Salman kicks off this morning a four-day visit to Japan. He\u2019s accompanied by a high-profile business delegation and will be talking investment and climate tech while there. Also on the agenda: Gaming and esports. Our biggest export to Japan: Oil. And our biggest import: cars, per <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/05\/19\/article_2727541.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>King Salman<\/strong><strong> will be treated at Jeddah\u2019s Al Salam Royal Palace for <\/strong><strong>inflammation in the lungs<\/strong>, where his treatment program will include a course of antibiotics, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2105731\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported overnight. The diagnosis comes after the King was admitted earlier in the day to the palace\u2019s royal clinics for a medical checkup due to \u201chigh temperature and joint pain,\u201d <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2105237\" style=\"\" rel=\"noopener\">SPA<\/a> reported earlier. King Salman was briefly admitted to Jeddah\u2019s King Faisal Specialist Hospital <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ff49f97c-222c-4b7b-84f5-ca9eb7c0aa96\" style=\"\" rel=\"noopener\">last month<\/a> for a \u201croutine checkup.\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-king-undergo-tests-due-high-fever-state-news-agency-says-2024-05-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/gulf\/2024\/05\/19\/saudi-arabias-king-salman-to-undergo-medical-tests-due-to-high-fever\/\" style=\"\" rel=\"noopener\">the National<\/a> have more. <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>Brace yourselves for a very aviation-heavy week: The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/futureaviationforum.com\/en\" style=\"\" rel=\"noopener\">Future Aviation Forum<\/a><\/strong><strong> kicks <\/strong><strong>off in Riyadh this morning<\/strong> with some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b5760dca-55dd-4068-b11a-6289d0b22f66\" style=\"\" rel=\"noopener\">5k<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b5760dca-55dd-4068-b11a-6289d0b22f66\" style=\"\" rel=\"noopener\">executives<\/a> from aviation majors including Boeing, Airbus, China\u2019s Comac, and Embraer gathering to chew over the industry\u2019s trends and challenges, while signing some agreements on the sidelines. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The event is co-hosted with the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.icao.int\/Meetings\/FAL2024\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">International Civil Aviation Organization\u2019s<\/a><\/strong><strong> Facilitation <\/strong><strong>2024 Global Summit<\/strong>, which gets underway tomorrow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Riyadh <\/strong><strong><a target=\"_blank\" href=\"https:\/\/waga-aci.expoplatform.com\/\" style=\"\" rel=\"noopener\">will host<\/a><\/strong><strong> the annual conference of the Airports Council International<\/strong> \u2014 also known as <a target=\"_blank\" href=\"https:\/\/aci.aero\/events\/aci-asia-pacific-aci-world-annual-general-assembly-conference-and-exhibition-waga\/\" style=\"\" rel=\"noopener\">WAGA<\/a> \u2014 from tomorrow through Thursday, 23 May. The global gathering brings together senior executives from around the world. The event\u2019s speakers include PIF-owned airline Riyadh Air CEO Rony Douglas, Saudi Air Connectivity Program Majid Khan, Riyadh Airports CEO Ayman Aboabah and others.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/SaudiNHC\/status\/1791587118151618976\" style=\"\" rel=\"noopener\">Real Estate Supply Chain Forum<\/a><\/strong><strong> opens its doors today<\/strong>, bringing together local and international players to discuss cooperation, investment, and innovation solutions for the industry. The event, which is organized by the National Housing Company, runs until tomorrow at the JW Marriott Riyadh. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>AND- Finance Minister Mohamed Al Jadaan is leading a Saudi delegation to <\/strong><strong>Beijing<\/strong> for meetings with Chinese officials today and tomorrow, the ministry said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/MOFKSA\/status\/1792211945082191955\" style=\"\" rel=\"noopener\">post on X<\/a> yesterday. The delegation will also pitch investment in gigaprojects to a number of Chinese business players.<\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The two-day subscription period for the retail tranche of the IPO of healthcare <\/strong><strong>provider Fakeeh Group starts<\/strong><strong> tomorrow <\/strong><strong>and ends on Wednesday.<\/strong> The institutional portion of the offering drew in strong demand, closing with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/49df4304-4dc9-4573-b7d6-1e6540d7469d\/\" style=\"\" rel=\"noopener\">a 119x oversubscription rate<\/a>. <strong>Fakeeh Group has priced the transaction at the top of the range<\/strong> at SAR 57.50 per share, which would give the family business a market cap of SAR 13.3 bn at the start of trading. The pricing means Fakeeh is set to raise SAR 2.9 bn from the offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The group is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/341bef0a-b671-4d76-8852-f8d5914c345c\" style=\"\" rel=\"noopener\">taking a 21.5% stake<\/a> to the market through an offering of both new and existing shares. It plans to offer 30 mn new shares and 19.8 mn existing shares held by the Fakeeh family.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at HSBC are acting as sole financial adviser. HSBC is joint bookrunner together with our friends at EFG Hermes as well as ANB Capital. Moelis is advising the selling shareholders, while AlRajhi Bank, Saudi National Bank, Arab National Bank, SAB, Alinma Bank and Bank Aljazira are serving as receiving banks.<\/p>\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Tadawul-listed healthcare providers saw their collective net income grow <\/strong><strong>16.4% <\/strong><strong>y-o-y&nbsp;<\/strong><strong>to <\/strong><strong>SAR 1.1 bn in 1Q 2024<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4292696\/%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B1%D8%B9%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B5%D8%AD%D9%8A%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D8%AA%D8%B1%D8%AA%D9%81%D8%B9-%D8%A5%D9%84%D9%89-1-08-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%B1%D9%8A%D8%A7%D9%84-%D8%A8%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A3%D9%88%D9%84-2024\/\" style=\"\" rel=\"noopener\">data Mubasher compiled<\/a> on nine listed medical groups. Meanwhile, their revenues were up 17.8% to SAR 7.3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the lead:<\/strong> Dr Sulaiman Al Habib Medical Services accounted for the lion\u2019s share of medical firms\u2019 net income in the first quarter of the year, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c97a26bf-eeed-45ff-85f4-3905bf322ea2\/a-flurry-of-1q-earnings\" style=\"\" rel=\"noopener\">its net income up 12.6%<\/a> y-o-y SAR 552 mn. Mouwasat came in second, with SAR 171.6 mn in net income, rising 3% y-o-y. Other healthcare operators reporting positive results include Dallah Healthcare, the National Medical Care, Saudi German Health and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Out of nine listed healthcare firms, only two saw net income dip during the quarter<\/strong>, including Al Hammadi Holding, which saw its net income decline 21.3% y-o-ySAR 64 mn, while Ayyan Investment saw its net losses widen to SAR 56 mn.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- <\/strong><strong>Ukraine is looking to attract Saudi investment as it looks to recover from war <\/strong><strong>and grow its economy<\/strong><strong>: <\/strong><a target=\"_blank\" href=\"https:\/\/dtek.com\/en\/about\/\" style=\"\" rel=\"noopener\">DTEK<\/a> \u2014 Ukraine\u2019s largest privately-held energy company \u2014 is engaged in \u201chigh-level governmental talks\u201d with the Public Investment Fund (PIF) on the possibility of the fund putting capital into the war-torn country\u2019s economy, CEO Maxim Timchenko told <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2512926\/business-economy\" style=\"\" rel=\"noopener\">Arab News<\/a>. The company is in talks \u201cwith PIF and other [Saudi] institutions\u201d about investment in cleantech, IT, agriculture, and energy, according to Timchenko. DTEK is also involved in talks with renewables giant Acwa Power to boost its wind and solar power capacities in addition to upping battery storage activity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Ukraine\u2019s fintech scene is also looking for Saudi investment:<\/strong> Ukraine\u2019s deputy digital transformation minister, Oleksandr Bornyakov, said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba65a930-c5b2-4b06-949f-33c9ba29e60c\" style=\"\" rel=\"noopener\">earlier<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ba65a930-c5b2-4b06-949f-33c9ba29e60c\" style=\"\" rel=\"noopener\">this month<\/a> that Ukrainian fintech companies are looking to do business in Saudi. \u201cUkrainian companies are looking towards bolstering cooperation with Saudi and creating an enabling environment for cross-border partnership and knowledge exchange to help facilitate entry into Gulf markets,\u201d he said. <\/p>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- We\u2019re less than a month away from Eid Al Adha:&nbsp;<\/strong>Tadawul will be closed for Eid Al Adha holiday from Friday, 14 June until Saturday, 22 June, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-details\/!ut\/p\/z1\/tVLLdoIwEP2WLrrMyRBecUlfqAerFEFhw4kQ27QQUKn08xu1C_X4aBfNau6cO7kzcwcneIoTydbilTWikqxQOE6s1HQsIF0KQ3fsaeBHtkcjf6xBz8ARTnCSyaZu3nDcsJy1n0XK5S2sGPqB27heioyvmMyFzLmKtknJ211QsuUHb3Ywa_YgIkAMMLUO4iLfSBVVxgqOYy43qM5UNiasQ405JUgjMwsZlqEjausG0jMNcsa1mQkETw4noQPXAv_Z8YfENsGNACeXBz2qh2Bkgv80GugevIAL1u_q4cxzruoHauJY_WGfJTlKZC14i0NZLUtlXvDHFSn25H6Q-uHji1La23QXcP9af-pSxPtikTjqHCrZ8K8GT__7HiablvfbGjodW7nSv3N7nqNTyz4mnLD9kHDC1y3hgnF1WVK9RGE4bdsxj9MHbx70hHPzDVSVwds!\/dz\/d5\/L2dBISEvZ0FBIS9nQSEh\/?locale=en\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Trading will resume on the stock market on Sunday, 23 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Saudis traveling to Montenegro on charter flights will be exempt from visa <\/strong><strong>requirements until<\/strong><strong> Thursday, 31 October 2024<\/strong>, the Saudi embassy in Albania <a target=\"_blank\" href=\"https:\/\/x.com\/KSAembassyAL\/status\/1792142368860225596\" style=\"\" rel=\"noopener\">said on X<\/a>. Tourists will be required to provide receipts of travel arrangement fees, along with a letter of invitation from the tourist office in Montenegro, and a return ticket to the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Pilgrims holding a valid Hajj permit will be the only ones allowed to perform Umrah <\/strong><strong>starting Friday, 24 May until <\/strong><strong>Wednesday, 26 June<\/strong>, which overlaps with the year\u2019s Hajj season, the Hajj and Umrah Ministry said in a directive, according to <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/642958\/SAUDI-ARABIA\/Hajj-Ministry-Umrah-not-allowed-for-those-without-a-Hajj-permit-between-May-24-and-June-26\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a>. Violators \u2014 whether citizens, residents and visitors \u2014 risk a fine of SAR 10k, with deportation and an entry ban imposed on residents in Makkah and holy sites without a hajj permit, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/MoHU_En\/status\/1791915468736905657\" style=\"\" rel=\"noopener\">ministry post on X<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday before 7am Riyadh time \u2014 without charge, thanks to our friends at Cenomi.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One story has captured the attention of the foreign press this morning: Search and <\/strong><strong>rescue operations are underway to find Iranian President Ibrahim Raisi <\/strong>and Foreign Minister Hossein Amirabdollahian after their helicopter crashed in the country\u2019s northwest. <strong>Their lives are \u201cat risk,\u201d <\/strong>according to <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85482559\/More-groups-searching-to-locate-site-of-Raisi-helicopter-crash\" style=\"\" rel=\"noopener\">Iran\u2019s state news agency, Irna<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The search is being slowed by poor weather<\/strong>, a contributing factor in the crash. The two were returning from a visit to the border with Azerbaijan, where they inaugurated a dam, media reports suggest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business as usual? <\/strong>Iranian Supreme Leader Ayatollah Ali Khamenei says there will be \u201cno disruption to state affairs,\u201d Reuters reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is everywhere:<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/19\/helicopter-iran-president-hard-landing.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1056ee5a-1e4b-4985-ab6b-63e31176bc0b\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-19\/air-fleet-of-iran-s-raisi-involved-in-incident-iranian-state-tv?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/iran-helicopter-raisi-b483ba75e4339cfb0fe00c7349d023b8\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/helicopter-iranian-presidents-convoy-accident-says-strate-tv-2024-05-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia is following the crash \u201cwith great concern\u201d and has offered to help with <\/strong><strong>search and rescue operations<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1792251321816350770\" style=\"\" rel=\"noopener\">statement by the Foreign Ministry on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES on which you\u2019ll want to keep any eye <\/strong>as the week unfolds:<\/p>\n<ul>\n<li><strong>We could see a verdict as early as this week in Donald Trump\u2019s hush-money trial <\/strong>in New York;<\/li>\n<li><strong>Boeing will send two astronauts to the space station <\/strong>tomorrow in the first crew test of its Starliner capsule;<\/li>\n<li><strong>G7 finance ministers and central bankers will meet on Thursday <\/strong>in Italy to chew over the state of the global economy.<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demo day for the final round of the Sanabil 500 MENA seed accelerator will kick off this <\/strong><strong>Wednesday, 29 May<\/strong> in Riyadh with seven finalists. Applications for the next batch <a target=\"_blank\" href=\"https:\/\/mena.aplica.500.co\/\" style=\"\" rel=\"noopener\">are now open<\/a> and will close on 6 August 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh will host a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/globalaisummit\/status\/1789658478690078841\" style=\"\" rel=\"noopener\">Global AI Summit<\/a><\/strong><strong> from 10-12 September<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2101219\" style=\"\" rel=\"noopener\">state news agency SPA<\/a> reported yesterday. The event, which is organized by the Saudi Authority for Data and Artificial Intelligence, will focus on key AI topics and trends, delving into its local and global adoptions, ethics, and infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dammam will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\" rel=\"noopener\">Saudi Maritime and Logistics Congress<\/a><\/strong><strong> from Wednesday, 18 <\/strong><strong>September to Thursday, 19 September.<\/strong> The two-day event looks to gather up to 10k attendees and 200 exhibitors, and will discuss topics including interlinked logistics, developments in supply chains, digitalisation, decarbonisation, the energy transition, and workforce development.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div 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class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86320\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/labor-agency-smasco-prices-ipo-at-the-top-of-the-range\/\">\r\n                            Labor agency Smasco prices its IPO at top range after strong demand from institutional investors                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/labor-agency-smasco-prices-ipo-at-the-top-of-the-range\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86321\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/labor-agency-smasco-prices-ipo-at-the-top-of-the-range\/325-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"325.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86320\" class=\"content-area-description single-story post-86320 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.0822cc34-a22a-4a31-8363-e06df89bbe26.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Riyadh-based Saudi Manpower Solutions (Smasco) closed the institutional <\/strong><strong>book<\/strong><strong> for its IPO on Tadawul\u2019s main market with a 128x oversubscription rate<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1491.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The institutional offering drew in orders with a combined SAR 115 bn. The company is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/982a3533-758f-439c-a51b-01e7b8886594\" style=\"\" rel=\"noopener\">taking a 30% stake to market<\/a> in a secondary share sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Smasco priced its IPO at the top end of its initial range<\/strong>, with shares set to start trading at SAR 7.50 apiece, giving the recruitment firm a market cap of SAR 3 bn at listing. The pricing will see Smasco raise some SAR 900 mn in IPO proceeds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>Retail investors will be able to place their orders on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/96911c23-6f1f-4fcd-9761-e120d97d11b7\" style=\"\" rel=\"noopener\">10% of the offering<\/a> for a two-day period starting Sunday, 26 May. The final allocation of shares will take place on Monday, 3 June, with any excess subscription fees set to be refunded by Monday, 10 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- SNB Capital <\/strong>is quarterbacking the transaction as the sole lead manager, financial advisor, bookrunner, and underwriter. <strong>Stat Law Firm<\/strong> is legal advisor, <strong>EY<\/strong> is the financial due diligence advisor, and <strong>Arthur D. Little<\/strong> Saudi Arabia is acting as market consultant. The receiving agents are <strong>SNB, SNB Capital and Al Rajhi Bank<\/strong>.<\/p>\n<p class=\"tag-border-left\">SAUDI IPO PIPELINE AT A GLANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the transactions now in the market or expected soon:<\/strong><\/p>\n<ul>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/49df4304-4dc9-4573-b7d6-1e6540d7469d\" style=\"\" rel=\"noopener\">Fakeeh Care Group<\/a><\/strong> has priced its IPO at the top range after strong demand from institutional investors as it looks to become the largest IPO so far this year;<\/li>\n<li>Riyadh-based aluminum products maker <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e4da0e33-8975-4fbe-9a11-1f4ae81456a4\/\" style=\"\" rel=\"noopener\">Al Taiseer Group Talco Industrial (Talco)<\/a><\/strong> plans to sell a 30% stake;<\/li>\n<li>Fintech startup&nbsp;<strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/108d78f3-ae8f-43fc-aeaa-39f9d514e131\" style=\"\" rel=\"noopener\">Rasan<\/a><\/strong> is set to sell a 30% stake, with subscription period for institutional investors wrapping up over the weekend;<\/li>\n<li>Water treatment outfit <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0c079d3d-57fd-428f-bbc5-271112fe5ac7\" style=\"\" rel=\"noopener\">Miahona<\/a><\/strong> has priced its IPO at the top of the range after recording strong investor appetite;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1c55c7a4-ce77-4a0c-a7bd-1ad23a8256e0\" style=\"\" rel=\"noopener\">Nupco<\/a><\/strong> \u2014 a unit of the PIF \u2014 has reportedly tapped Rothschild &amp; Co as financial advisor for its potential Tadawul IPO;<\/li>\n<li>Budget airline <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e299d7ad-c3f0-4533-bc3f-4dfb58ab2eb4\/\" style=\"\" rel=\"noopener\">Flynas<\/a><\/strong> is reportedly looking to go public this year;<\/li>\n<li>PIF-backed lender Riyad Bank is considering the listing of its investment banking arm <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\" style=\"\" rel=\"noopener\">Riyad Capital<\/a><\/strong>;<\/li>\n<li>Hotels and resorts operator <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c8620363-c996-408b-8d01-914668fdbb63\" style=\"\" rel=\"noopener\">Boudl<\/a><\/strong> has filed to go public;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da021c4-8337-47f8-b4f7-7e13f94d0e7e\" style=\"\" rel=\"noopener\">Fourth Milling Company<\/a><\/strong> will list before the end of June;<\/li>\n<li>Singapore\u2019s <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\" style=\"\" rel=\"noopener\">Olam Group<\/a><\/strong> is mulling the IPO of its Olam Agri subsidiary on Tadawul;<\/li>\n<li>Hypermarket operator<strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\" style=\"\" rel=\"noopener\">Lulu<\/a><\/strong> is said to be eyeing a dual listing on Tadawul and ADX;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78df2631-68ae-4b15-86cd-59bab3c278b7\" style=\"\" rel=\"noopener\">Aster DM Healthcare<\/a><\/strong> looks set to spin off its GCC assets and seek a dual listing on Tadawul and in the UAE.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86322\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86322\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/novel-financing-for-small-healthcare-providers-sedco-capital-seeks-sar-1-bn-for-new-multi-asset-fund\/\">\r\n                            Novel financing for small healthcare providers + Sedco Capital seeks SAR 1 bn for new multi-asset fund                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/novel-financing-for-small-healthcare-providers-sedco-capital-seeks-sar-1-bn-for-new-multi-asset-fund\/\" 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financing for small healthcare providers + Sedco Capital seeks SAR 1 bn for new multi-asset fund\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Novel+financing+for+small+healthcare+providers+%2B+Sedco+Capital+seeks+SAR+1+bn+for+new+multi-asset+fund+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F20%2Fnovel-financing-for-small-healthcare-providers-sedco-capital-seeks-sar-1-bn-for-new-multi-asset-fund%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/novel-financing-for-small-healthcare-providers-sedco-capital-seeks-sar-1-bn-for-new-multi-asset-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1471.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86323\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/novel-financing-for-small-healthcare-providers-sedco-capital-seeks-sar-1-bn-for-new-multi-asset-fund\/1471-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1471.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1471.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1471.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1471.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86322\" class=\"content-area-description single-story post-86322 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services tag-financial-services tag-healthcare wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.43eea090-b3ed-486a-9f55-ee5d4019f2d2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have two financial services stories for you this morning<\/strong>, including news of a fund that will finance ins.-backed claims for small- and mid-sized healthcare providers as well as an SAR 1 bn multi-asset fund from Sedco Capital<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Small and medium-sized healthcare providers will be able to settle their ins. <\/strong><strong>claims quicker thanks to a healthcare-focused SAR 50 mn direct investment fund&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/klaim.ai\/\" style=\"\" rel=\"noopener\">Klaim for Information Technology<\/a> and <a target=\"_blank\" href=\"https:\/\/thtcapital.com\/\" style=\"\" rel=\"noopener\">Tharawat Tuwaiq Financial<\/a> will set up, Klaim CEO Karim Dakki <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/search\/results\/content\/?keywords=tharawat%20tuwaiq&amp;sid=YZo&amp;update=urn%3Ali%3Afs_updateV2%3A(urn%3Ali%3Aactivity%3A7197889009073709056%2CBLENDED_SEARCH_FEED%2CEMPTY%2CDEFAULT%2Cfalse)\" style=\"\" rel=\"noopener\">said yesterday<\/a>. The two signed an MoU for the fund, which is designed to help ins. players improve their cashflow, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1728797\" style=\"\" rel=\"noopener\">Argaam<\/a> reports, citing a company statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch: <\/strong>Clinics will be able to settle their ins. claims within three days through the fund\u2019s new financing program. \u201cA typical cycle from submission preparation to claim payment takes between 60 to 90 days, heavily impacting healthcare facilities cashflow. On average, ins. providers take 120 days to pay 90% of submitted claims,\u201d according to Klaim\u2019s website. The fund\u2019s platform will also be integrated with the National Platform for Health and Ins. Exchange Services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the impact?<\/strong> \u201cWe anticipate that over SAR 3 bn in working capital could be unlocked and reinvested into the healthcare SME sector in the Kingdom,\u201d said Klaim CEO Karim Dakki. <\/p>\n<p class=\"tag-border-left\">SEDCO CAPITAL RAISING SAR 1 BN FUND<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sedcocapital.com\/\" style=\"\" rel=\"noopener\">Sedco Capital<\/a><\/strong><strong> opened subscription yesterday to a multi-asset, Shariah-compliant traded <\/strong><strong>fund and is looking to attract assets under management of SAR 1 bn <\/strong>by the time the window closes on 6 June, <a target=\"_blank\" href=\"https:\/\/sedcocapital.com\/products\/multi-asset-traded-fund\/\" style=\"\" rel=\"noopener\">the company said<\/a>. Aljazira Capital will act as the fund\u2019s custodian, while receiving agents include AlJazira Capital, Al Rajhi Bank, SNB Capital, Riyad Bank and Banque Saudi Fransi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sedco wants to place 70% of the fund with institutional investors <\/strong>and will build a \u201cdiversified portfolio of local and international private and public investments that are compatible with Shariah standards and controls.\u201d It will invest up to 80% of its assets in local and global equities and \u201cincome assets\u201d and another 20% in less-liquid \u201cglobal private equity investments,\u201d it <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1523.pdf\" style=\"\" rel=\"noopener\">said in an FAQ (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out the fund\u2019s landing page<\/strong> and key documents <a target=\"_blank\" href=\"https:\/\/sedcocapital.com\/products\/multi-asset-traded-fund\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund will pay out dividends twice a year<\/strong>, and will be announced 40 days after the end of June and of December. Dividends would then be distributed to eligible uni holders within 90 business days of the approval of the dividend for the period.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86324\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86324\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/\">\r\n                            Cenomi Centers reports record-high footfall + rising adjusted net income                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Cenomi Centers reports record-high footfall + rising adjusted net income&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/&title=Cenomi Centers reports record-high footfall + rising adjusted net income\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Cenomi+Centers+reports+record-high+footfall+%2B+rising+adjusted+net+income+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2024%2F05%2F20%2Fcenomi-centers-reports-record-high-footfall-rising-adjusted-net-income%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86325\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-centers-reports-record-high-footfall-rising-adjusted-net-income\/263-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"263.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86324\" class=\"content-area-description single-story post-86324 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-cenomi-centers tag-earnings-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.1cd78082-15c1-43f7-bb07-5279e8000aa3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends at Cenomi Centers reported a 78.1% y-o-y increase in adjusted net income to <\/strong><strong>SAR 185.6 mn<\/strong>, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1500.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company\u2019s net income for the quarter fell 52.2% y-o-y on an unadjusted basis due to the base effect from a one-off SAR 238.7 mn land sale agreement in Al Raed in 1Q 2023, the release says. The dip in unadjusted net income also comes on the back of a write-off of SAR 50.6 mn in non-amortized financing cost associated with a previous Islamic facility and its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a6b1c677-2149-42a2-b63b-809603e1b010\" style=\"\" rel=\"noopener\">sukuk issuances<\/a> this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth drivers:<\/strong> Cenomi Centers reported SAR 585.8 mn in revenues during the quarter, up 1.6% y-o-y on the back of an increase in net rental revenue, media sales, and a constant occupancy rate of 92.5% across its portfolio. It said the opening of U Walk Jeddah in February contributed to higher sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Footfall hit an all-time high:&nbsp;<\/strong>Cenomi Centers saw record-high footfall across its portfolio for any first quarter with 31.7 mn visits, up 7.8% y-o-y, while occupancy rates remained stable at 92.5%. It brought in 43 new brands \u2014 including Charlotte Tilbury and Ralph Lauren \u2014 bringing the total to 135 brands by the end of the quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And pushed forward with its asset sales program:<\/strong> Cenomi agreed terms for the sale of Sahara Plaza at SAR 200 mn. The gain, which will be realized later this year, brings the total sales generated from the program to SAR 1.1 bn with a remaining SAR 800 mn to be realized from further transactions. It said the program comes under its efforts to \u201cstreamline its portfolio of assets with the aim of future-proofing its portfolio and focusing on the development of large-scale malls.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cenomi Centers\u2019 board is recommending a dividend <\/strong>of SAR 178.1 mn at SAR 0.375 apiece for 1Q, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMTYyFA_ODVPvyA3NMIgMyA3XNdREQCj_teO\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDExNi9jb21wYW55U3ltYm9sLzQzMjEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>The construction of Cenomi Centers\u2019 flagship and lifestyle centers Jawharat Riyadh and Jawharat Jeddah was underway with openings set for the second half of 2025. Its third project, Jawharat, is set to open in 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We know what Cenomi is looking to offer:<\/strong> \u201cThese assets will have improved design features and circulation with a best-in-class retail offering,\u201d CEO Alison Rehill-Erguven told <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e07e01ba-a582-4b54-b375-e7d10d9cb8da\" style=\"\" rel=\"noopener\">EnterpriseAM Saudi<\/a> last month. \u201cThe flagships specifically will have luxury precincts, immersive and digital experiences, a refined delivery on food and beverage, international-level multi-age entertainment experiences.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cWith our robust flagship development pipeline, including Jawharat Riyadh and Jawharat Jeddah progressing toward their 2025 unveilings and our core focus on A grade malls in key cities, we are well-positioned to deliver unmatched premium shopping experiences. We will continue capitalizing on emerging opportunities, forging new partnerships, and solidifying our leadership position in crafting world-class retail destinations across the Kingdom.\u201d Rehill-Erguven said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cenomi-centers\/\">Cenomi Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86326\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86326\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-retail-trims-quarter-on-quarter-losses-as-it-pushes-ahead-with-rationalization-strategy\/\">\r\n                            Cenomi Retail trims quarter-on-quarter losses as it pushes ahead with rationalization strategy                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/232.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"86327\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/cenomi-retail-trims-quarter-on-quarter-losses-as-it-pushes-ahead-with-rationalization-strategy\/232-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/232.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"232.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/232.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/232.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86326\" class=\"content-area-description single-story post-86326 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-cenomi-retail tag-earnings-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.b0e8c3c6-a91e-427c-bc2e-cf5c319e6bf5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cenomi Retail\u2019s net losses widened to SAR 151.7 mn in 1Q 2024<\/strong>, compared to a net loss of SAR 55.9 mn in 1Q 2023, on the back of brand exits and store closures as part of its turnaround strategy, it said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1486.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1486.pdf\" style=\"\" rel=\"noopener\"><\/a> Revenues remained essentially unchanged on an annual basis at SAR 1.3 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things are looking brighter on the quarterly front: <\/strong>Cenomi Retail trimmed its net losses by 85.2% q-o-q <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a18231c4-4bae-406a-a687-f9be2736fc0c\" style=\"\" rel=\"noopener\">from SAR 1 bn<\/a> in 4Q 2023. Revenues were up 31.5% q-o-q on the back of higher sales from its local retail segment during Ramadan. Revenues from its international retail segment were down 7.9% q-o-q while sales from its F&amp;B segment were down 4.8% q-o-q to SAR 86.5 mn over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rationalization strategy moves forward: <\/strong>Cenomi Retail <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f9c89ad2-6563-41b2-9149-c519a16b58a6\" style=\"\" rel=\"noopener\">completed the first phase<\/a> of its brand exit strategy, raising some SAR 35 mn in the first quarter of the year. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1322a437-1d03-4cdf-9aab-af8cee0e376d\" style=\"\" rel=\"noopener\">rest of its sale agreements<\/a> with Abdullah Al Othaim Fashion \u2014 comprising phase two with the sale of five brands \u2014 are set to be finalized during 2Q 2024, it said. The board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1322a437-1d03-4cdf-9aab-af8cee0e376d\" style=\"\" rel=\"noopener\">also approved<\/a> during the quarter a program that will see it sell an additional 24 brands, including its Apple premium reseller Aleph. It expects the sale of the 24 brands to bring in some SAR 650 mn in revenues with a net asset value of SAR 215 mn, while the country\u2019s largest franchise retailer\u2019s board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a18231c4-4bae-406a-a687-f9be2736fc0c\/earnings-season-comes-to-a-close\" style=\"\" rel=\"noopener\">had also recommended<\/a> lowering the company\u2019s capital to SAR 100 mn as part of a capital restructuring to \u201coffset accumulated losses.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the funds are going: <\/strong>Proceeds from brand sales will be channeled to principal repayment, with Cenomi Retail paying SAR 170 mn of debt principal so far. It also said it expects its ongoing organizational restructuring program to save more than SAR 60 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at the retail store count:<\/strong> Cenomi Retail saw a 38.1% y-o-y decline in the number of its stores in Saudi to 562 stores over the period after 266 store closures and the opening of four new stores. Internationally, it reported a 17.8% y-o-y drop over the period to 249 stores after opening eight new stores and shutting down 26 stores. It slashed the number of brands by 23% y-o-y in the first quarter to 57 brands, down from 74 in the corresponding period a year earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cPerformance in Q1 2024 in Saudi Arabia was softer than expected due to a number of external factors such as vacation seasonality, geopolitics impact from last December and store closures. However, Cenomi Retail will continue with its Saudi First strategy. While the challenges are not yet behind us and despite the current net loss, we will continue to implement our turnaround strategy. Our focus will be on enhancing the topline, which will naturally lead to a stronger stabilized EBITDA, by progressing our strategy. Overall, I am confident all of our efforts will bring benefits for all stakeholders,\u201d Cenomi Retail Acting CEO Salim Fakhouri said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cenomi Retail is the largest franchise retailer in the Kingdom <\/strong>and the only listed business of its type in the region. The retailer is currently active in over 900 stores across 326 malls in nine countries, with brands spanning womenswear, menswear, kids and baby, department stores, shoes and accessories and cosmetics. This is in addition to operating a number of restaurants and coffee shops including Subway and Cinnabon.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cenomi-retail\/\">Cenomi Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86328\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86328\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/snb-reappoints-saeed-al-ghamdi-as-chairman-saudi-industrial-investment-group-has-a-new-board\/\">\r\n                            SNB reappoints Saeed Al Ghamdi as chairman + Saudi Industrial Investment Group has a new board                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n       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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/956.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"956.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/956.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/956.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86328\" class=\"content-area-description single-story post-86328 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-maaden tag-moves tag-saudi-national-bank-snb wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.c0684a16-5e67-4e40-a23a-72dce0a9a289.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The board of Saudi National Bank (SNB) approved the reappointment of Saeed Al <\/strong><strong>Ghamdi <\/strong><strong>(<\/strong><strong><a target=\"_blank\" href=\"https:\/\/manhom.com\/%D8%B4%D8%AE%D8%B5%D9%8A%D8%A7%D8%AA\/%D8%B3%D8%B9%D9%8A%D8%AF-%D8%A8%D9%86-%D9%85%D8%AD%D9%85%D8%AF-%D8%A7%D9%84%D8%BA%D8%A7%D9%85%D8%AF%D9%8A\/\" style=\"\" rel=\"noopener\">bio<\/a><\/strong><strong>) <\/strong><strong>as the bank\u2019s chairman<\/strong> after the Saudi Central Bank gave its \u201cno objection\u201d clearance, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyNDQwkC_IDc0wiAzIDfcUVERALKJuJs!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDIzMC9jb21wYW55U3ltYm9sLzExODAvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Al Ghamdi was first appointed as the bank\u2019s chairman in March 2023 after the <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDNDoJADISfxQNXWlQQvWEUjD8RJQbci1kUVxJgCS4S394VTxhFe2v7zXRSIBAAyegtZlTEPKOJ7PfEOOiWgd2ZiWvH7k5xYw_Hm8nU0XDRB78JoOfqEnBXvSVu0UEDyD96_FIW_taTVsQZvAMfItZAS4Y5EJbw8PUPKwt7JgNSROeoiAq1LOT4IkR-HSmoYFVVKuOcJZF65KmCnyQXfhUQNMkn93SpTQQ90apMpJrIVU6zu3dPQy4PaZqJkKe7AGM39U2h761O5wFP9g3a\/dz\/d5\/L0lDU0lKQ2dwUkNncFJDaUNsRUtJS1VRIS9ZQVVFQUFBSUlNSUVBSUNLR0tHQ0tPQk9CQ09KSkZKRk5JRUVKRERMRExOREFBISEvNEpDaWpzWXBNaFRqVUU1Q2ttb3ByZHRMWXpVczF1MmxzNXFDUUEhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9BTk5PVU5DRU1FTlRfTlVNQkVSLzcyNjUwL2NvbXBhbnlTeW1ib2wvMTE4MC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZA!!\/\" style=\"\" rel=\"noopener\">resignation of former chairman<\/a> Ammar Al Khudairy for \u201cpersonal reasons.\u201d Prior to his appointment as chairman, he has been serving as the bank\u2019s managing director and group CEO since 2021. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM SNB- <\/strong>The board also reappointed Yazeed Al Humied (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yazeed-alhumied-88070723\/?original_referer=https%3A%2F%2Fwww%2Egoogle%2Ecom%2F&amp;originalSubdomain=sa\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as vice chairman, according to the disclosure. Al Humied has been serving as vice chairman since 2021. He is also the Public Investment Fund\u2019s deputy governor and head of MENA investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Tadawul-listed Saudi Industrial Investment Group has appointed a new board of <\/strong><strong>directors with Khalil Al Watban (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.meed.com\/khalil-al-watban\/\" style=\"\" rel=\"noopener\">bio<\/a><\/strong><strong>) as chairman<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lU9fb4IwEP8sfgDTQ2Nhj2xsyIIKolN5MbXclEQoKcXNffpRMDG6ubjmHu6uv39HYrIkcc4O6ZapVORsX8-rmK4HNoXe0IIJDGdPQCFy6XxmGU6PksUlwBq5FMKxHU565gDcNyDxv_gQBQMIX4JR34cpuEDv48ONZ9_hH19CJvaDWSd4fXQ93-5b1LwG_HLilcnPGxrAHyEjzJtLzJtRPYMsJJaikhzJdIvKznNR5RwzzJWflsphipGQM75DHw-4D9gWSaStWXJISyFLjSIrvSmRKyGdwktO8zHbiH3bF1IkFVezY4HtQola-tQXtWiUftWTAa0Qk3x3xur_cZVtUDobsurr1bsU2VmA6dRcZ25JxrprNCb4qaJGrMUlNSNAmQqdsMjm8yWkXtf6eO5n1mXZnc43YOmwjA!!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzIyNTAvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMTg2\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Al Watban boasts 30 years of experience in the petrochemicals industry, and has <a target=\"_blank\" href=\"https:\/\/www.marketscreener.com\/insider\/KHALIL-AL-WATBAN-A1QSP0\/\" style=\"\" rel=\"noopener\">previously held positions<\/a> at Ma\u2019aden, SABIC, and the Power &amp; Water Utility Company for Jubail &amp; Yanbu. The new board will have a four-year term ending in May 2028.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/maaden\/\">Ma\u2019aden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-national-bank-snb\/\">Saudi National Bank (SNB)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86330\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86330\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">SAUDI IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/usyks-title-in-in-riyadh-continues-to-get-all-the-attention\/\">\r\n                            Usyk\u2019s undisputed heavyweight champion title in Riyadh continues to lead foreign media coverage                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/usyks-title-in-in-riyadh-continues-to-get-all-the-attention\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Usyk-Fury showdown is still getting ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/usyk-beats-fury-become-undisputed-heavyweight-champ-2024-05-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/sport\/live\/2024\/may\/18\/tyson-fury-v-oleksandr-usyk-undisputed-heavyweight-championship-live\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/boxing\/articles\/clwwl4pq092o\" style=\"\" rel=\"noopener\">BBC Sports<\/a> | <a target=\"_blank\" href=\"https:\/\/www.skysports.com\/boxing\/news\/12183\/13139073\/tyson-fury-voices-dismay-after-suffering-split-decision-loss-to-oleksandr-usyk-in-undisputed-world-heavyweight-title-fight\" style=\"\" rel=\"noopener\">Sky Sports<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cbssports.com\/boxing\/news\/tyson-fury-vs-oleksandr-usyk-fight-results-highlights-ukrainian-wins-to-become-undisputed-heavyweight-champ\/live\/\" style=\"\" rel=\"noopener\">CBS Sports<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-in-the-news\/\">SAUDI IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86332\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86332\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/almarai-inches-closer-to-acquisition-of-etmam-logistics-plus-arab-energy-fund-will-invest-in-dussur-projects\/\">\r\n                            Almarai inches closer to acquisition of Etmam Logistics. Plus: Arab Energy Fund will invest in Dussur projects                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/almarai-inches-closer-to-acquisition-of-etmam-logistics-plus-arab-energy-fund-will-invest-in-dussur-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/almarai-inches-closer-to-acquisition-of-etmam-logistics-plus-arab-energy-fund-will-invest-in-dussur-projects\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/almarai-inches-closer-to-acquisition-of-etmam-logistics-plus-arab-energy-fund-will-invest-in-dussur-projects\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Almarai inches closer to acquisition of Etmam Logistics. 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The definitive acquisition agreement was originally signed <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZJbU-owFIV_y3ngUbKb2KSct4jQVmhLLyrkxUm1VOa0KVOKHfz1hsscLwiat0zWt7L2BQk0RULJl0Uum0WlZKHvM0EfTE4BOxYE4CR9oBDb9DaxjGuXoPudwHfGfQcsPAoGJgd-RUJvwJgBI4yEfnYn9qXh6mfbGBrAfTLCzEoAPEB3SCCxag4-_z-yPJtC6PMwwMwE-w52Pj_meBfEExPC4cQjY4jABvo7Hk4c_ov_xedSg15EdamJd51QwwCHHgTnWrUTnMvwJcVxkWdj4iNBwHtMO9xc2e6YE4uyr4LjOcx0o9iHiUaxnuhwcDlxIMSAGYq3Hlypaq0eszJTjb8u06xGM0bMHv2BH8Ge97N25T5pxiTmATlVVUj3yGNVLqXaxJsyrQo0w9gCdINEXlTpfpGfm2b5twMdaOSTbNdFRzdUKtWXDZoapwU6xpQxjMlWwlVKrByJOptndVZ317W23nKrHdi2bTevqrzIujqO5r9Bniu97tPPShTLGi3LW7VZLC7-RYPIeU3mZfng-xci3ZDiZTznf94AqafshA!!\/dz\/d5\/L0lHSkovd0RNQUhrQUVnQSEhLzROVkUvZW4!\/\" style=\"\" rel=\"noopener\">in December 2023<\/a>. The diary giant financed the transaction with its own resources. The acquisition \u201cwill enhance Almarai\u2019s food service credentials by allowing broader product offering opportunities, accelerate poultry business growth and expand ice cream, bakery and other frozen categories in the future,\u201d the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Chemanol one step closer to acquiring local chemicals manufacturer: <\/strong>Tadawul-listed Methanol Chemicals (Chemanol) has finalized all regulatory requirements and approvals to acquire an 80% stake in <a target=\"_blank\" href=\"http:\/\/www.gciksa.net\/\" style=\"\" rel=\"noopener\">Global<\/a><a target=\"_blank\" href=\"http:\/\/www.gciksa.net\/\" style=\"\" rel=\"noopener\">Company for Chemical Industries<\/a>, at a price of SAR 80 mn, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjAwFA_ODVPvyA3NMIgMyA3XNdREQBesPej\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDIyOS9jb21wYW55U3ltYm9sLzIwMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The move comes under a growth strategy by Chemanol aimed at expanding its operations in the local specialty chemicals segment and diversifying its product offerings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All for a larger slice of the market: <\/strong>Chemanol became Addar Chemical\u2019s majority owner <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ac0f497e-c940-4910-8cc6-2634331308e2\" style=\"\" rel=\"noopener\">earlier this year<\/a> after acquiring an 84% stake in the local chemicals manufacturer in a SAR 46 mn transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF CHEMANOL-<\/strong> The company trimmed its net losses to SAR 24.5 mn in 1Q 2024 on the back of higher sales volumes, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjAwFC_IDc0wiAzIDfcUVERAFZuzDQ!\/dz\/d5\/L0lDU0NRa2dwUXBRa0tDbEVLQ2xFS0lLVVFvZ3BSSWshL1lEVUVBQUFJSUVNRUNLSUVBR0lHT0lPSUJKRkpGQkpORE5EQk5MTEhMSFBJRUVMQWdvZ292QXNDQUEhIS80SkNpaksxYkdMamlFRXBNaFNUVVU1Q21tb1pyZHJMWnpVODF1MWxzRnFLVlZHS0EvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MDIxNy9jb21wYW55U3ltYm9sLzIwMDEvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Its revenues dipped 1.2% y-o-y over the period to SAR 183.3 mn due to lower selling prices.<\/p>\n<p class=\"tag-border-left\">INVESTMENT WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Arab Energy Fund \u2014 formerly known as Apicorp \u2014 will invest in <\/strong><strong>greenfield projects operated by <\/strong><strong>the Saudi Arabian Industrial <\/strong><strong>Investments Company (Dussur)<\/strong> after signing an MoU that will see Dussur facilitating as much as USD 200 mn in bridge finance, the Fund said in <a target=\"_blank\" href=\"https:\/\/www.apicorp.org\/ar\/news\/the-arab-energy-fund-enters-strategic-partnership-with-dussur\/\" style=\"\" rel=\"noopener\">a statement<\/a>. Dussur <a target=\"_blank\" href=\"https:\/\/dussur.com\/shareholders.php\" style=\"\" rel=\"noopener\">is owned by<\/a> the sovereign wealth fund (PIF), Sabic, and Aramco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cOur strategic partnership with Dussur is also aligned with our planned investment of up to USD 1 bn to advance the energy transition with a focus on decarbonization and related technologies over the next five years,\u201d the energy-focused fund\u2019s Chief Banking Officer Nicolas Th\u00e9venot said in <a target=\"_blank\" href=\"https:\/\/tradearabia.com\/news\/OGN_422216.html\" style=\"\" rel=\"noopener\">a joint press release<\/a>.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IT services provider Advance International Co. (Aictec) has obtained SAR 8.5 mn in <\/strong><strong>financing <\/strong>from the National Information Technology Development Program in partnership with the Social Development Bank, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3swmaekr\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The five-year financing agreement will help support Aictec\u2019s operating cycle.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate developer Retal Urban Development will develop 295 residential units in <\/strong><strong>Riyadh\u2019s Khozam suburb <\/strong>under sub-development agreements worth SAR 660 mn with the National Housing company, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyWHjiCFyJC2ptb1ADikRAokAtyzBIiJXHkOFD69XUIEqKFilo-eMczs7NLfLIkfsr2UchUJFIW63rlm-s2NaHVs2ACvdkbmODZ5nxmNbstkyyuCdbINsEdU3fS6rTB_gDi_0sPntMG990ZGUOYgg3mY3q4c-gD_f1ryoQ-d3SCwavdH1LDMjs_CTdG_NHk9wwnwh8hB8QPYxFUC6dpYFgh8SVuUaJsFFLDO6Wy_KUGNTgcDo1QiDDGBhdJDW5JdiJXZHnNJB6mp3V17u6j3yQLibkoJEcyDVHRNBVFyjHBVA2jXHWZYsTljO9wiHuMHRYi8cr52GYf5ULmJYusSiRHroTsZv3NuT4mgYirdybFpuBqdsywApTQ1ud3pk296EtXTaiMmOS7C7f8HxdJgLIbaE4JbaVILgasTM3LzJWoua6fWAo_lXcyIyuJSm9bgxstc1BGooyZJfP5EqJ-3Q-OhpHQxDKu74E-fQPB98Bo\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MzIyL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMTg0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The project will run for 42 months, and its financial impact will be reflected on Retal\u2019s financial results starting this year until 2027, it said. <\/p>\n<p class=\"tag-border-left\">EARNINGS WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kingdom Holding reported net income of SAR 196.2 mn in 1Q 2024, up <\/strong><strong>from SAR 171 mn in 1Q 2023<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/b46xvttk\" style=\"\" rel=\"noopener\">a disclosure to Tadawul<\/a>. The comprehensive income of the Tadawul-listed company was 10x its net income with a 22% y-o-y increase, the statement reads. The holding\u2019s revenues fell 16% y-o-y to SAR 564.4 mn last quarter on the back of lower dividend income and lower hotel and other operating revenues.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/almarai\/\">Almarai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/kingdom-holding\/\">Kingdom Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/retal-urban-development\/\">Retal Urban Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86334\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"86334\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/latest-inflation-data-sends-usd-rally-into-reverse\/\">\r\n                            Latest inflation data sends USD rally into reverse                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/latest-inflation-data-sends-usd-rally-into-reverse\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Traders now expect the Fed to deliver two quarter-point rate cuts in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The USD reacts: <\/strong>Reignited optimism for a cut has sent the USD rally into reverse, with the greenback expected to record its first down month of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US stocks are at an all time high:<\/strong> The weakening USD has helped drive up US stock markets, with Wall Street\u2019s benchmark indexes \u2014 the S&amp;P 500, Nasdaq and Dow \u2014 all hitting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc953b09-0ff1-4985-a4df-372db5abc962\/traders-send-us-stocks-to-record-high-after-promising-inflation-data\" style=\"\" rel=\"noopener\">record highs last week<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t celebrate yet:<\/strong> \u201cWe are at a turning point but we are going to faff around here for some indeterminate period of time, \u201da foreign exchange strategist at Soci\u00e9t\u00e9 G\u00e9n\u00e9rale told the FT. Fed chair Jay Powell has said time and time again that the central bank will not cut rates before it ensures that the country is on a sustainable path to 2% inflation \u2014 its core target.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are solidly in the green this morning<\/strong>, tracking last week\u2019s gains on Wall Street, and both US and European equities futures ticked slightly higher overnight.<\/p>\n<p><a target=\"_blank\" id=\"t.8c0b63f01db2a76041ccb72449cc487818565d34\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,198<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,528<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,062<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.2% (YTD: +10.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR<\/strong><strong>(SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,315<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+4.5% (YTD: +9.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,041<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.00% (YTD: -5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,068<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0,4% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,303<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +11.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,420<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +8.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,064<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +12.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.98<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+5.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,417<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 66,211<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: +56.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI fell 0.1% yesterday <\/strong>on turnover of SAR 4.4 bn. The index is up 1.9% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> L\u2019Azurde (+10.0%), Mesc (+10.0%) and Aldrees (+6.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Oasis (-10.0%), MCDC (-8.0%) and Jazadco (-7.3%)<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong><strong> rose 2.2% yesterday <\/strong>on turnover of SAR 25.1 mn. The index is up 10.3% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Future Care (+27.4%), Leen Alkhair (+8.8%) and Molan (+5.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:&nbsp;<\/strong>Nofoth(-4.8%), Tibbiyah (-4.4%) and Mulkia (-4.0%)<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The board of Dr Sulaiman Al Habib Medical Services Group approved a dividend&nbsp;<\/strong><strong>of SAR 409.5 mn at SAR 1.17 a share for 1Q 2024<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lVDLbsIwEPyV9sARvBAR0t7cogYQ70CBXJBjliRSEkeOA6Vf35ggIShU1PLBO56ZnV3ikiVxE7YLfaZCkbCoqFeuuW5SExodC0bQmb2DCY5tzmdWvd0wyeKSYA1sEyZDOhk1Wk2wP4G4_9KDM27C5GM8MPowBRvMx_Rw59AH-ruXlBF9aRUJem92t08Ny2xdE26MeNXk9wxHwh8he8T1I-GVC6eJZ1g-cSVuUaKs5bKAA6XS7LUCFdjv9zVfCD_CGhdxBW5JApEpsrxkEgeT47pad_fRrZOFxEzkkiOZ-qhokog84RhjovphptpMMTLhjAfYxx1GY-YjcfR8bLMLMyEzzSIrjWTIlZDttLs51YfYE1H5TqXY5FzNDimWgBKF9emdFqZO-F1UdSiNmOTBmav_h3nsoWx7BUdDWyniswHTqbnOXIrq6-qRpfBLOUczsmLRU8C80NP4plCOUYZCJ03j-XwJYbfqegfDiGlsGZd3T59_APOQwzk!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDEzL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMTc0\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Dividends will be distributed to eligible shareholders on Monday, 10 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The board of healthcare group Al Hammadi Holding has approved a dividend <\/strong><strong>of SAR 56 mn at SAR 0.35 apiece for 1Q 2024<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZBfT4MwFMW_ij7s0fUyMoa-VRdxZv_ZdONlKeUOSCglpWzOTy8dJma6GSU89N7-zum5lwRkRYKc7dKY6VTmLKvrdeBsutSBzpMLE3haPIADvucsF67V7zjk9RRwR54DszGdTTq9LngvQIJ_6cGfdmH2OB3ZQ5iDB87f9HDho394PzhFJvS2Vyd4vvcGQ2q7Tu87cGbEb4_8nOEI_BLymQRxJsNm4TQPbTcmgcItKlTtStXtROuivGtBC_b7fTuWMs6wzaVowTlJIktNVqck8TE_rqt3cR8Di7wqLGWlOJJ5jJrmuaxyjgJzPUxL3WeakRlnPMEh7jCbshiJb-Zj0S4tpSoNRdamUyLXUvWLQfRZH0Qos-ZcKBlVXC8OBTYNLWvrz3NRm_rpe11Z0BgxxZMv1tyPKxGi6oc1Y1pbJcWXATOpucnciKzNzZHS-Kb9oxlZs-wqYUKwKDU3Ua2dokqlyVqI5XIF6eAmCA-2Lahw7dN_T68_AAZAZfw!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvY29tcGFueVN5bWJvbC80MDA3L2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzgwMTg5\/\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Eligible shareholders can cash out on Wednesday, 5 June. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"86336\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/20\/86336\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-86336\" class=\"content-area-description single-story post-86336 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fpf.sa\/en\" style=\"\">Future Projects Forum<\/a><\/span><span style=\"font-weight:400;\">, Four Seasons Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20-22 May (Monday-Wednesday): Future Aviation Forum, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-23 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thesaudifoodshow.com\/\" style=\"\">The Saudi Food Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-23 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aci.aero\/events\/aci-asia-pacific-aci-world-annual-general-assembly-conference-and-exhibition-waga\/\" style=\"\">WAGA 2024<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 May (Saturday): Bidding deadline for Duba\u2019s seawater reverse osmosis desalination plant in Tabuk.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-27 May (Sunday-Monday): Bookbuilding for retail investors in Smasco IPO.        <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-28 May (Monday-Tuesday): Smart Data & AI Summit Saudi, JW Marriott Hotel, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 May (Wednesday): Sanabil 500 MENA seed accelerator demo day, Four Seasons Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in May:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Global Trade Review (GTR): KSA<\/span><\/li>\n<li><span style=\"font-weight:400;\">Saudi Energy Convention<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 June (Saturday): OPEC+ meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 June (Sunday-Monday): Global Project Management Forum, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisportshow.com\/\" style=\"\">Saudi Sports Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aqaratexpo.com\/en\/home\/\" style=\"\">Aqarat Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/optimism.enterprise.news\/\" style=\"\">The Optimism Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/digitransformationsummit.com\/ksa\/\" style=\"\">Digital Transformation Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14-22 June (Friday-Saturday): Banks and capital markets closed for Eid Al Adha holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/globalaisummit\/status\/1789658478690078841\" style=\"\">Global AI Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/saudi-event-show\/\" style=\"\">The Saudi Event Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evautoshowonline.com\/\" style=\"\">EV Auto Show<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-19 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\">Saudi Maritime & Logistics Congress<\/a><\/span><span style=\"font-weight:400;\">, Dammam.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-26 September (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiinfrastructureexpo.com\/\" style=\"\">Saudi Infrastructure Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention and Exhibition Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 September (Monday): National Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/smartportstransformation.com\/\" style=\"\">Smart Ports & Logistics Transformation Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-9 November (Saturday- Saturday): WTA Finals, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiarabia-energy.com\/en\/home.html\" style=\"\">Saudi Electricity Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeglobal.com\/en\/home.html\" style=\"\">Cityscape Global<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-20 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theheatshow.com\/beta\/\" style=\"\">The Heavy Equipment and Truck Show<\/a><\/span><span style=\"font-weight:400;\">, Dammam.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 November (Tuesday-Thursday): Saudi Electricity Expo, Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The AFC Champions League Elite<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-13 February (Monday-Thursday): Leap 2025, the Kingdom\u2019s premier tech investment conference.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Crown Prince in Japan | Closing in on US-Saudi defense pact? | Sedco Capital\u2019s SAR 1 bn fund | A huge week for aviation<\/p>\n","protected":false},"featured_media":86316,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-86315","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7cceb387-1b1a-41c3-9e69-2304b64aa5e7","teaser":"Crown Prince in Japan | Closing in on US-Saudi defense pact? | Sedco Capital\u2019s SAR 1 bn fund | A huge week for aviation","photo_url":"https:\/\/ent.news\/2024\/3\/2614.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Saudi Manpower prices IPO at top of the range - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/saudi-manpower-prices-ipo-at-top-of-the-range\/\" \/>\n<meta property=\"og:locale\" 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