{"id":90662,"date":"2024-10-20T00:00:00","date_gmt":"2024-10-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/20\/sinner-walks-away-with-six-kings-title\/"},"modified":"2024-10-20T00:00:00","modified_gmt":"2024-10-20T00:00:00","slug":"sinner-walks-away-with-six-kings-title","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/20\/sinner-walks-away-with-six-kings-title\/","title":{"rendered":"Sinner walks away with Six Kings title"},"content":{"rendered":"

Good morning, wonderful people.<\/strong> It\u2019s a busy and diverse Sunday morning here in the Kingdom, as we kick off the week with news of fresh investments from the Public Investment Fund\u2019s Ayan Third Investment in US luxury EV maker Lucid and a handful of IPO updates.<\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> Qualified investors will be able to subscribe to <\/strong>Riyadh-based waste management<\/strong> company Shalfa Facilities Management\u2019s Nomu IPO starting today<\/strong> through to next Monday, 28 October, according to a filing to Tadawul<\/a>. The final allocation will take place on Thursday, 31 October. <\/p>\n

^^ We have more details on the company\u2019s IPO in this morning\u2019s news well, below. <\/p>\n

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WEATHER- <\/strong>Riyadh <\/strong>is looking at a high of 36\u00b0C, and a low of 23\u00b0C today. Over in Dammam<\/strong>, the temperature will peak at 39\u00b0C, before dropping to 23\u00b0C. Meanwhile, Abha <\/strong>will see a high of 27\u00b0C, and a low of 16\u00b0C.<\/p>\n

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HAPPENING TOMORROW-<\/p>\n

Shares of <\/strong>Jazan-based Sama Water will begin trading on Tadawul\u2019s parallel market Nomu<\/strong> tomorrow<\/strong>, according to a Tadawul statement<\/a>. Sama\u2019s shares can fluctuate within a \u00b130% range for the first three days, after which price fluctuations will be capped at \u00b110% as circuit breakers take effect. <\/p>\n

REFRESHER-<\/strong> The company priced its IPO<\/a> of a 20% stake at the top of its indicative price range at SAR 2.7 per share after its offering was 239.3x oversubscribed. The pricing will see Sama raise SAR 27 mn in proceeds, and give it a market cap of SAR 135 mn at listing.<\/p>\n

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SIGN OF THE TIMES-<\/p>\n

<\/a> Iraq suspends MBC Media Group\u2019s license:<\/strong> Iraqi regulators revoked MBC Media Group's broadcasting license in the country yesterday, Iraq\u2019s Communications and Media Commission said in a statement carried by the Iraqi News Agency<\/a>. The move comes after \u201crepeated incidents of insolence\u201d against resistance forces fighting against Israel, the commission said. MBC had aired a report calling the former leaders of Hamas, Hezbollah, and Iran\u2019s Quds Force as \u201cfaces of terrorism,\u201d the New York Times<\/a> reports. <\/p>\n

The reaction at home: <\/strong>The General Authority for Media Regulation noted that the report also violated its media guidelines and is reviewing legal options to address this issue.<\/p>\n

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PSAs- <\/p>\n

#1- Local and international companies have until Thursday, October 31, to submit their <\/strong>applications for exploration licenses for Saudi Arabia\u2019s largest-ever mineralized belts,<\/strong> the Industry and Mineral Resources Ministry said<\/a>. Final bids must be in by 21 December, following the selection of qualified bidders on 14 November. The awarded bids will be revealed on 14 January, 2025. <\/p>\n

REFRESHER-<\/strong> The ministry is offering<\/a> three exploration licenses in the Jabal Sayid mining site in Madinah, and two reserved in Al Hajjar mining site in Aseer. Both sites could include deposits of gold, silver, copper, zinc, and lead.<\/p>\n

#2- <\/strong>Traffic rule <\/strong>violators<\/strong> now have until 18 April, 2025 to settle their dues at a <\/strong>50%<\/strong> reduction<\/strong>, the Interior Ministry said<\/a>. The deadline extension and discount apply to fines issued before April of this year. <\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- Saudi to host Russia-Ukraine peace talks? <\/strong>Russian President Vladimir Putin has shown interest in Saudi Arabia as a potential host for peace talks between Russia and Ukraine, Arab News<\/a> reports. Speaking at a presser at the BRICs forum Putin also praised the Kingdom\u2019s diplomatic neutrality and its strong ties with both countries, reiterating Russia\u2019s commitment to pursuing peaceful discussions. <\/p>\n

<\/a> #2- Is KAFD gearing up for a more intense drive to lure financial services companies? <\/strong>King Abdullah Financial District (KAFD) is said to be interested in raising as much as USD 750 mn<\/a> to fuel its expansion. The company is mulling both an IPO on Tadawul and the creation of a real estate investment trust to which it would contribute a number of revenue-generating buildings. KAFD is backed by the Public Investment Fund. <\/p>\n

Advisors: <\/strong>Our friends at HSBC have the mandate, alongside Citi and Al Rajhi Capital. <\/p>\n

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#3- Muvi Studios gears up for 11 Saudi films in 2025-2026: <\/strong>Muvi Studios, the film production arm of Saudi Arabia\u2019s largest cinema chain, Muvi Cinemas, is set to produce 11 films slated for release in 2025 and 2026, Fouad Al-Khatib, the company\u2019s art production manager told Aleqtisadiah<\/a>. <\/p>\n

ALSO-<\/strong> IMAX Corp is in advanced discussions with an undisclosed Saudi firm to produce a local feature film, CEO Richard Gelfond tells Arab News<\/a>. The Canadian entertainment company aims to expand its content offerings and cinema footprint in the Kingdom, with plans to establish 50 IMAX screens over the next five years. Currently, IMAX operates 10 cinemas and is on track to add 22 more in collaboration with major exhibitors, including four new IMAX screens at Muvi Cinemas by 2025.<\/p>\n

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SPORTS-<\/p>\n

#1- Tennis world no.1 Jannik Sinner beat Spain\u2019s Carlos Alcaraz in the finals of the Six Kings<\/strong> Slam<\/strong> in Riyadh yesterday, walking away with the USD 6 mn prize pool. Sinner took two of three sets: 6-7 (5), 6-3, 6-3.<\/p>\n

Nadal<\/strong> falls to Alcaraz, Djokovic as retirement approaches: <\/strong>Tennis legend Rafael Nadal lost 6-2, 7-6(5) at the event yesterday. The match \u2014 the 61st time for the two tennis greats to play against each other \u2014 is one of Nadal\u2019s last times on the courts professionally, after he announced earlier this month that he plans to retire at the end of the year. Nadal also lost 6-3 to Alcarez on Thursday. <\/p>\n

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#2- The third edition of the Saudi Games 2024 wrapped on Friday<\/strong>, after attracting over 9k competitors across 52 sports, with an award pool of SAR 200 mn, according to state news agency SPA<\/a>. <\/p>\n

IN THE TOP SPOTS-<\/strong> On the closing day, Omar Hossam Al Saqqa from Al Intilaq took the men\u2019s archery gold<\/a>, while Lina Al Munajjim from Najd claimed the women\u2019s title. In chess, Hesham Abdulrahman earned the men\u2019s title, while Alaa Jamal claimed the top spot in the women\u2019s division. Abdulrahman Mostafa from Al Hilal triumphed in squash, and Al Huda\u2019s men\u2019s team earned first place in handball with a narrow 27-26 victory over Al Khaleej.<\/p>\n

Top three clubs<\/strong>\u2019 <\/strong>medals standing<\/a><\/strong>:<\/strong><\/p>\n