{"id":95062,"date":"2025-03-09T00:00:00","date_gmt":"2025-03-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/09\/world-expo-2030-bid-in-the-final-stage-a-hiring-dispute-behind-the-pif-pwc-row\/"},"modified":"2025-03-09T00:00:00","modified_gmt":"2025-03-09T00:00:00","slug":"world-expo-2030-bid-in-the-final-stage-a-hiring-dispute-behind-the-pif-pwc-row","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/09\/world-expo-2030-bid-in-the-final-stage-a-hiring-dispute-behind-the-pif-pwc-row\/","title":{"rendered":"World Expo 2030 bid in the final stage + A hiring dispute behind the PIF-PwC row?"},"content":{"rendered":"

Good morning, wonderful readers<\/strong>. We welcome the second workweek of the holy month with the latest forecasts and news in the Kingdom\u2019s logistics sector and capital markets, and more.<\/p>\n

Leading this morning\u2019s news well: <\/strong>NBK is out with its forecasts for our economy in 2025, the latest data on M&A transactions in the MENA region in 2024, and the inauguration of a new and improved container terminal at Jeddah Islamic Port by Mawani and DP World. We also have the full-year earnings of Ma\u2019aden, which saw the mining giant\u2019s net income jump 82.1%.<\/p>\n

^^ The details on these stories and more are in this morning\u2019s news well, below.<\/p>\n

When do we eat? <\/strong>Maghrib is at 5:59pm today in Riyadh. You\u2019ll have until fajr prayers at 4:49am tomorrow to finish your sohour.<\/p>\n

HAPPENING TODAY-<\/p>\n

Coffee chai<\/strong>n ope<\/strong>rator Ratio Specialty will begin trading on the Nomu parallel market <\/strong>today<\/strong>, according to a Tadawul statement<\/a>. Ratio\u2019s shares can fluctuate within a \u00b130% range for the first three days, after which price fluctuations will be capped at \u00b110% before circuit breakers take effect.<\/p>\n

REFRESHER- <\/strong>The company priced its secondary offering of a 25% stake<\/a> (good for 5 mn shares) at SAR 10 apiece<\/a>. The offering, limited to qualified institutional investors, was 8.6x oversubscribed. The pricing gives Ratio a market cap of SAR 200 mn<\/a> at listing with proceeds from the sale earmarked to the selling shareholders, after deducting some SAR 2.6 mn to cover IPO-related expenses.<\/p>\n

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The retail <\/strong>book<\/strong>building period for Umm Al Qura for Development and Construction\u2019s IPO <\/strong>wraps up today<\/strong>, whereby retail investors can book up to 2.5 mn shares each, with the minimum limit set at 10 shares. The final allocation of shares is slated for this Thursday, 13 March. A total of 13.08 mn shares (10% of the offering) is allocated for retail investors.<\/p>\n

REMEMBER- <\/strong>Umm Al Qura is offering a 9.1% stake<\/a> on Tadawul\u2019s main market priced at the top of its indicative range at SAR 15 per share<\/a>, with the institutional tranche oversubscribed by 241x. The pricing would see it raise SAR 2 bn in proceeds and give the firm a market cap of SAR 21 bn at listing, making it the largest IPO on Tadawul so far this year.<\/p>\n

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WEATHER<\/strong>- <\/strong>Riyadh remains under stormy skies, while Makkah will be windy. Madinah can expect clear skies today.<\/p>\n