{"id":82505,"date":"2023-12-04T00:00:00","date_gmt":"2023-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/04\/btc-breaks-past-40k-plus-pure-health-ipo-aldars-london-buy\/"},"modified":"2023-12-04T00:00:00","modified_gmt":"2023-12-04T00:00:00","slug":"btc-breaks-past-40k-plus-pure-health-ipo-aldars-london-buy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/04\/btc-breaks-past-40k-plus-pure-health-ipo-aldars-london-buy\/","title":{"rendered":"BTC breaks past 40k. Plus: Pure Health IPO, Aldar\u2019s London buy"},"content":{"rendered":"

It\u2019s a big morning for cryptobros: BTC is on a tear, breaking past USD 40k <\/strong>for the first time since May 2022. The rally is prompting some pundits to call the start of a bull run that could go as far as USD 100k<\/a> in 2024, CNBC adds.<\/p>\n

What gives? <\/strong>\u201cBroad enthusiasm about [the possibility of] US interest rate cuts and [anticipation of] the imminent approval of US-stockmarket traded BTC funds,\u201d Reuters<\/a> suggests.<\/p>\n

MEANWHILE- Healthcare giant Pure Health is planning to offer up to 10% <\/strong>of the company\u2019s shares in an IPO on the ADX, according to the prospectus<\/a> published on Friday. The shares will debut at AED 3.26 per share, expecting to raise as much as AED 3.62 bn. <\/p>\n

Selling shareholders: <\/strong>Alpha Dhabi Holding, AH Capital, Ataa Financial investments, International Holding Company, and ADQ. <\/p>\n

The book-building process starts Wednesday:<\/strong> The six-day subscription period for both retail and institutional investors is between 6-11 December. The company will sell 4.5% to retail investors and 95.5% to institutional investors. Pure Health expects to be listed on the ADX on 20 December.<\/strong><\/p>\n

AND- ADX-listed Aldar Properties has made its first acquisition outside the MENA region <\/strong>with an AED 1.07 bn (SAR 1.09 bn) acquisition<\/a> of UK property developer London Square, a residential and mixed-used developer primarily focused on Greater London. <\/p>\n

<\/a><\/a> <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

TASI<\/a><\/strong><\/p>\n<\/td>\n

\n

11,219.02<\/p>\n<\/td>\n

\n

+0.4% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

MSCI Tadawul 30<\/a><\/strong><\/p>\n<\/td>\n

\n

1,445.89<\/p>\n<\/td>\n

\n

+0.3% (YTD: -16.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD : SAR (SAMA)<\/a><\/strong><\/p>\n<\/td>\n

\n

3.75<\/p>\n<\/td>\n

\n

-<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates<\/a><\/strong><\/p>\n<\/td>\n

\n

6% repo<\/p>\n<\/td>\n

\n

5.5% reverse repo<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

24,571.98<\/p>\n<\/td>\n

\n

-0.7% (YTD: +68.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/a><\/strong><\/p>\n<\/td>\n

\n

9,539.08<\/p>\n<\/td>\n

\n

-0.2% (YTD: -6.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/a><\/strong><\/p>\n<\/td>\n

\n

3,987.75<\/p>\n<\/td>\n

\n

-0.1% (YTD: +19.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/a><\/strong><\/p>\n<\/td>\n

\n

4,594.63<\/p>\n<\/td>\n

\n

+0.6% (YTD: +19.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/a><\/strong><\/p>\n<\/td>\n

\n

7,529.35<\/p>\n<\/td>\n

\n

+1% (YTD: +1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/a><\/strong><\/p>\n<\/td>\n

\n

4,418.51<\/p>\n<\/td>\n

\n

+0.8% (YTD: +16.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/a><\/strong><\/p>\n<\/td>\n

\n

USD 78.88<\/p>\n<\/td>\n

\n

-2.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 2.81<\/p>\n<\/td>\n

\n

+0.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 2,089.70<\/p>\n<\/td>\n

\n

+1.6%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/a><\/strong><\/p>\n<\/td>\n

\n

USD 40,023.22<\/p>\n<\/td>\n

\n

+0.7% (YTD:+130.7%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The TASI rose 0.4% yesterday<\/strong> on turnover of SAR 4.1 bn. The index is up 7.1% YTD.<\/p>\n

In the green: <\/strong>Saudi German Health (+10%), Naqi (+6.3%) and Cenomi Retail (+6%).<\/p>\n

In the red: <\/strong>DWF (-5.6%), Al Rajhi Takaful (-5.4%) and Naseej (-3%). <\/p>\n

EARNINGS WATCH-<\/strong><\/p>\n

The Saudi Cable Company (SCC) reported a 202% y-o-y rise in losses on the back of a <\/strong>lingering liquidity crisis<\/strong>, it said in a disclosure to Tadawul<\/a>. The company, which is now bidding to restructure, aims to return to profitability in 2025. <\/p>\n

CORPORATE ACTIONS-<\/strong><\/p>\n

Saudi Enaya Cooperative Ins. Co.\u2019s <\/strong>merger with United Cooperative Assurance will <\/strong>improve solvency<\/strong>, Enaya chairman Amr Khashoggi told Argaam<\/a> last week. Shareholders of the two companies are scheduled to vote on the lash-up tomorrow Enaya said in a regulatory filing<\/a> last month.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s Aldar\u2019s first acquisition outside the MENA region<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2565],"tags":[538,537,10,55,29,59,539],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82505","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-aldar","tag-bitcoin","tag-enterpriseam-ksa","tag-financial-markets","tag-ipo-watch","tag-planet-finance","tag-pure-health","wpautop","entry"],"acf":{"mongo_id":"c25951fe-f12e-4d67-acf2-7a70ed3753e8","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"BTC breaks past 40k. 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