{"id":94972,"date":"2025-03-05T00:00:00","date_gmt":"2025-03-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/arab-leaders-endorse-egypts-usd-53-bn-reconstruction-plan-for-gaza\/"},"modified":"2025-03-05T00:00:00","modified_gmt":"2025-03-05T00:00:00","slug":"arab-leaders-endorse-egypts-usd-53-bn-reconstruction-plan-for-gaza","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/05\/arab-leaders-endorse-egypts-usd-53-bn-reconstruction-plan-for-gaza\/","title":{"rendered":"Arab leaders endorse Egypt\u2019s USD 53 bn reconstruction plan for Gaza"},"content":{"rendered":"

Good morning, friends, and welcome to a very busy Wednesday<\/strong> at home and across the region. The news cycle here at home is dominated by Aramco\u2019s earnings and accompanying decision to slash its dividend payouts for 4Q 2024 \u2014 defying analyst expectations that the oil giant would maintain its dividends. We also have the latest PMI reading from Riyad Bank, as well as a closer look at the private equity landscape in Saudi Arabia last year. <\/p>\n

^^ We have chapter and verse on these stories and more in this morning\u2019s news well, below.<\/p>\n

When do we eat? <\/strong>Maghrib is at 5:58pm today in Riyadh. You\u2019ll have until fajr prayers at 4:55am tomorrow to finish your sohour.<\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> HKC Cera<\/strong>mics is ringing the bell on Nomu today:<\/strong> Shares of local marble and porcelain supplier HKC<\/a>Ceramics (Hedab Alkhaleej Trading Company)<\/a> will begin trading on the Nomu parallel market today, according to a Tadawul statement<\/a>. The company\u2019s shares will be allowed to fluctuate within a 30% band on the first three days of trading, after which price fluctuations will be capped at 10% as circuit breakers take effect.<\/p>\n

REFRESHER-<\/strong> HKC is taking a 10.67% stake<\/a> to market in a primary offering limited to qualified institutional investors, in a bid to finance its expansion plans and reduce its existing liabilities. The company priced its IPO<\/a> at SAR 52 per share \u2014 the top of the range it was guiding on<\/a> \u2014 after its Nomu offering was 1.7x covered. The final price saw the company raise some SAR 41.6 mn in IPO proceeds, giving it a market cap of SAR 390 mn at listing.<\/p>\n

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The fi<\/strong>ve-day <\/strong>retail bookbuilding period<\/a><\/strong> for Umm Al Qura Development and <\/strong>Construction\u2019s Tadawul IPO kicks off today<\/strong> and will wrap up next Sunday, 9 March. Retail investors can subscribe to up to 2.5 mn shares with a minimum of 10 shares each. The final decision is set for Thursday, 13 March, with 13.08 mn shares reserved for retail investors.<\/p>\n

\u26a0\ufe0f<\/strong>WEATHER-<\/strong> <\/strong>A chance of medium to heavy thunderstorms across most areas of the Kingdom until Thursday, including Madinah, Makkah, Jeddah, Al Taif, and Riyadh.<\/p>\n