{"id":87679,"date":"2024-07-09T00:00:00","date_gmt":"2024-07-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/09\/gib-capital-receives-cma-approval-for-public-offering-of-new-equity-fund\/"},"modified":"2024-07-09T00:00:00","modified_gmt":"2024-07-09T00:00:00","slug":"gib-capital-receives-cma-approval-for-public-offering-of-new-equity-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/09\/gib-capital-receives-cma-approval-for-public-offering-of-new-equity-fund\/","title":{"rendered":"GIB Capital receives CMA approval for public offering of new equity fund"},"content":{"rendered":"

\n

ASSET MANAGEMENT-<\/p>\n

The Capital Market Authority (CMA) approved investment bank GIB Capital\u2019s public <\/strong>offering of GIB Opportunistic Indian Equity Fund<\/strong>, according to a statement<\/a> by the market regulator. No details have been yet disclosed on the offering. <\/p>\n

About GIB Capital: <\/strong>Established in 2008, GIB Capital<\/a> is a fully owned subsidiary of pan-GCC Gulf International Bank. It has offices in Riyadh, Bahrain, and Abu Dhabi and has advised on some of top IPOs in Saudi in the past years, including telecom operator Stc in 2003<\/a>, National Commercial Bank in 2014<\/a> and others. It was also the financial advisor<\/a> to the substantial shareholders of leading broadcaster MBC\u2019s blockbuster IPO<\/a> in late 2023.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

\n

DEBT WATCH-<\/p>\n

Tadawul-listed SHL Finance Co. has renewed a SAR 2.1 bn Shariah-compliant credit <\/strong>facility with Arab National Bank (ANB)<\/strong>, it said in a disclosure to Tadawul<\/a>. The facility will now run until 30 April, 2025. It aims to grow the finance company\u2019s sales volume.<\/p>\n

More than acquainted: <\/strong>The home finance company\u2019s primary shareholders include ANB, leading real estate developer Dar Al Arkan, and the World Bank\u2019s private investment arm, the International Finance Corporation.<\/p>\n

\n

FOOD-<\/p>\n

The UAE\u2019s Agthia launched its protein manufacturing facility in Jeddah\u2019s First Industrial <\/strong>City<\/strong>, according to a statement (pdf)<\/a>. The AED 90 mn (SAR 91.9 mn) facility can produce up to 9k tons of manufactured protein over 9k sqm and export to more than 25 countries, according to the statement. The facility has two production lines manufacturing over 50 SKUs, supported by a supply chain involving over 69 raw materials. The facility is part of a Saudi expansion<\/a> announced in May 2022.<\/p>\n

\n

FINANCE-<\/p>\n

The board of Tadawul-listed drugmaker Jamjoom Pharma has agreed to provide a <\/strong>corporate guarantee for a credit facility for its joint venture in Algeria<\/strong>, according to a disclosure to Tadawul<\/a>. The pledge will secure an SAR 44.4 mn loan from Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Alg\u00e9rie to fund a production line for ophthalmology products at Jamjoom Algeria Lil Dawa\u2019s factory. Jamjoom Pharma owns a 49% stake in the JV. <\/p>\n

\n

MANUFACTURING-<\/p>\n

The total sales of 17 local cement manufacturers were down 4.6% y-o-y to 3.6 mn tons in <\/strong>June<\/strong>, with Northern Region Cement leading the drop with a 53.1% fall in sales, Mubasher<\/a> reported, citing monthly figures by Yamama Cement. The Tadawul-listed cement manufacturer topped the list of top sellers in June despite its sales falling 25.4% y-o-y. Only eight companies reported higher sales on an annual basis in June led by Umm Al-Qura Cement\u2019s 66.7% increase in sales.<\/p>\n","protected":false},"excerpt":{"rendered":"

Plus: UAE\u2019s Agthia launches protein manufacturing facility in Jeddah<\/p>\n","protected":false},"author":1,"featured_media":87680,"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":[2564],"tags":[2328,54,2657,10,2327,280,278,2326],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-aghtia","tag-also-on-our-radar","tag-cement","tag-enterpriseam-ksa","tag-gib-capital","tag-jamjoom-algeria-lil-dawa","tag-jamjoom-pharma","tag-shl-finance","wpautop","entry"],"acf":{"mongo_id":"422c7403-821d-415b-b626-050ebc1aa014","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/687.jpg","photo_position":"above","homepage_title":"","full_issue_title":"GIB Capital receives CMA approval for its public offer","related_issue":[87660],"teaser":"Plus: UAE\u2019s Agthia launches protein manufacturing facility in Jeddah","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.8e225e16-0633-4091-b60d-43d8ddac7e82.mp3"},"yoast_head":"\nGIB Capital receives CMA approval for public offering of new equity fund - 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