{"id":98372,"date":"2025-07-02T00:00:00","date_gmt":"2025-07-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/02\/riyad-capital-files-for-tadawul-ipo-cma-signs-off-on-two-fresh-listings\/"},"modified":"2025-07-02T00:00:00","modified_gmt":"2025-07-02T00:00:00","slug":"riyad-capital-files-for-tadawul-ipo-cma-signs-off-on-two-fresh-listings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/02\/riyad-capital-files-for-tadawul-ipo-cma-signs-off-on-two-fresh-listings\/","title":{"rendered":"Riyad Capital files for Tadawul IPO + CMA signs off on two fresh listings"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gentlemen, and welcome to the accidental capital markets edition of EnterpriseAM Saudi.<\/strong> We lead our newswell this morning with the latest from the Sport Clubs IPO, which saw strong institutional investor interest, allowing it to price its offering at the top end of the indicative range. Meanwhile, we have a handful of other capital markets updates, including Riyad Capital filing for an IPO on Tadawul\u2019s main market, the Capital Market Authority signing off on two fresh listings, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Riyadh<\/strong> is expected to see a high of 38\u00b0C and a low of 29\u00b0C, while <strong>Jeddah<\/strong>\u2019s mercury will go as high as 41\u00b0C and as low as 32\u00b0C. <strong>Makkah<\/strong> will see a 42\u00b0C high and 35\u00b0C low. <\/p>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- <\/strong><strong>Two major mi<\/strong><strong>xed-use PPP tenders available in <\/strong><strong>Makkah, Dammam: <\/strong>The National Center for Privatization &amp; PPP (NCP), in partnership with the Holy Makkah Municipality, has started receiving expressions of interest (EOI) and requests for qualification for a 219.4k sqm mixed-use project on Prince Sultan bin Abdulaziz Road in Makkah, it <a target=\"_blank\" href=\"https:\/\/x.com\/NCPSaudi_en\/status\/1938218151415607423\" style=\"\" rel=\"noopener\">said on X<\/a> last week. The 30-year BOOT concession includes developing and managing a regional mall, two hospitals, and retail spaces. The submission window is open until 27 July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The NCP and the Eastern Province Municipality will be receiving EOIs up until Wednesday, 16 July for a 1 mn sqm mixed-use development project in Dammam\u2019s King Fahd Suburb Boulevard, it said in a separate <a target=\"_blank\" href=\"https:\/\/x.com\/NCPSaudi_en\/status\/1937882379843940365\" style=\"\" rel=\"noopener\">post on X<\/a>. The two-phase plan includes retail, hospitality, leisure, parks, walkways, and office spaces and will be developed under a revenue-sharing agreement, with full asset transfer to the public sector at the end of the 30-year concession.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>New social ins. rules kick in for new hires:<\/strong> New social ins. rules took effect yesterday, covering only new employees in the public and private sector with no prior contribution history before 3 July 2024, General Organization for Social Insurance (Gosi) said in a <a target=\"_blank\" href=\"https:\/\/www.gosi.gov.sa\/ar\/MediaCenter\/News\/NewsDetails\/1\/0030062025\" style=\"\" rel=\"noopener\">statement<\/a> on Monday. The updated system gradually increases pension contributions and introduces new maternity benefits including three months of compensation to eligible Saudi and non-Saudi female subscribers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The new Social Ins. Law, which was introduced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8c57811e-f5b6-451c-9edb-cd6527696b16\/new-pension-system-comes-into-effect,-pushing-up-retirement-age-for-most\" style=\"\" rel=\"noopener\">last year<\/a>, set the retirement age at 58-65 years, during which fresh employees under 50 Hijri years of age with less than 20 years of contributions can retire with full pension benefits. Early retirement remains possible after 30 years of service, but with reduced benefits.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Employers <\/strong><strong>who have three domestic workers or more are now obliged to transfer<\/strong> <strong>wages online through the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tawtheeq.musaned.com.sa\" style=\"\" rel=\"noopener\">Musaned<\/a><\/strong><strong> platform <\/strong><strong>starting this month<\/strong>, the Human Resources Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.hrsd.gov.sa\/node\/5574517\" style=\"\" rel=\"noopener\">statement<\/a>, following <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3fdec3ad-1508-429a-a2a6-013e3406f40c\" style=\"\" rel=\"noopener\">a decision in May of last year<\/a>. The electronic salary transfer service will be extended to include employers with two or more workers starting 1 October and will cover all domestic workers in the Kingdom by 1 January, 2026. Musaned has been available to be used on a voluntary basis since April 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>Objections <\/strong><strong>to municipal violations, fines, and license-related procedures will now<\/strong><strong> be<\/strong><strong> processed online within 15 days of submission via the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/balady.gov.sa\/ar\/products\/%D9%85%D9%86%D8%B5%D8%A9-%D8%A7%D9%84%D8%A7%D8%B9%D8%AA%D8%B1%D8%A7%D8%B6%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D9%88%D8%AD%D8%AF%D8%A9\" style=\"\" rel=\"noopener\">Balady<\/a><\/strong><strong> platform<\/strong>, eliminating the need to visit municipal offices in person, <a target=\"_blank\" href=\"https:\/\/saudigazette.com.sa\/article\/653085\/SAUDI-ARABIA\/Objections-to-municipal-violations-and-fines-to-be-processed-electronically-within-15-days-of-submission-nbsp\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reported yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>The nation\u2019s <\/strong><strong>first civil aviation challenge <\/strong><strong><a target=\"_blank\" href=\"https:\/\/avithon.gaca.gov.sa\/\" style=\"\" rel=\"noopener\">Avithon<\/a><\/strong><strong> is <\/strong><strong>accepting registrations until 17 <\/strong><strong>July<\/strong>, the General Authority of Civil Aviation (Gaca) said in a <a target=\"_blank\" href=\"https:\/\/gaca.gov.sa\/News\/AVITHON\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The virtual hackathon offers a prize pool of SAR 450k to participants who develop digital solutions for improving aviation sustainability, safety and security, and passenger experience.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- <\/strong><strong>T<\/strong><strong>he Prepar<\/strong><strong>ing <\/strong><strong>Young Leaders<\/strong> <strong>for Global Communications program will be receiving <\/strong><strong>applications until 18 July<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2349820\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The program aims to provide bilingual Saudi youth (aged 20-32) willing to participate in global forums with strong communication skills. Registration is open on the Salam for Cultural Communication <a target=\"_blank\" href=\"https:\/\/salam4cc.org\/en\/programmes\/5\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Riyad Capital files for IPO in first-of-its-kind move:<\/strong> Riyad Capital has filed for an IPO on Tadawul\u2019s main market, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88523&amp;anCat=1&amp;cs=1010&amp;locale=en\" style=\"\" rel=\"noopener\">a disclosure<\/a>. This follows Riyad Bank\u2019s announcement back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\/%253cmark%253eriyad%253c%2Fmark%253e%253cmark%253e-capital%253c%2Fmark%253e-is-eyeing-a-tadawul-ipo\" style=\"\" rel=\"noopener\">April 2024<\/a> that it was exploring a potential IPO for its investment arm. The size and timing of the debut will be determined by market conditions. If the IPO goes ahead, Riyad Capital would operate as an independent entity, making Riyad Bank the first local lender in Saudi Arabia to spin off its investment banking arm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Two companies get CMA clearance for Tadawul debuts:<\/strong> <a target=\"_blank\" href=\"https:\/\/alramzre.com\/en\/\" style=\"\" rel=\"noopener\">Alramz Real Es<\/a><a target=\"_blank\" href=\"https:\/\/alramzre.com\/en\/\" style=\"\" rel=\"noopener\">tate<\/a> received approval from the Capital Market Authority (CMA) to take a 30% stake (12.9 mn shares) to Tadawul\u2019s main market, the authority said in a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3828.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. The prospectus is yet to be published. The regulator\u2019s green light comes after the company applied for an IPO <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/da4a0977-cdfd-49e8-8fec-7c6012175500\" style=\"\" rel=\"noopener\">in May<\/a>. The CMA also approved <a target=\"_blank\" href=\"https:\/\/www.cgs.com.sa\/index.php\" style=\"\" rel=\"noopener\">Co<\/a><a target=\"_blank\" href=\"https:\/\/www.cgs.com.sa\/index.php\" style=\"\" rel=\"noopener\">nsolidated<\/a><a target=\"_blank\" href=\"https:\/\/www.cgs.com.sa\/index.php\" style=\"\" rel=\"noopener\">Grunenfelder Saady Holding<\/a> \u2019s plans to float a 30% stake (30 mn shares) on the main market, according to a separate <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3827.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Tadawul is sitting on a packed IPO pipeline:<\/strong> The main market is set to welcome a handful of IPOs in the near future, including <a target=\"_blank\" href=\"https:\/\/www.marketing-home.com\/\" style=\"\" rel=\"noopener\">Marketing Home Group<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/07ff1274-1227-4bc4-ad24-e65a552987c6\/aramco-reportedly-acquires-primax,-expands-into-peru%25e2%2580%2599s-fuel-market#:~:text=The%20Capital%20Market%20Authority%20(CMA)%20greenlit%20five%20IPOs%20on%20Thursday\" style=\"\" rel=\"noopener\">Dar Al Majed<\/a>,and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/72f5fb07-48d4-4728-aa16-5b4493066846\/nice-one%25e2%2580%2599s-two-day-retail-subscription-window-opens-today#:~:text=Two%20new%20IPOs%20get%20regulatory%20clearance\" style=\"\" rel=\"noopener\">Ejada Systems<\/a>, among many others.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Investors have nine trading sessions starting from today to go through the transfer<\/strong><strong> documents of <\/strong><strong>Nomu-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8903&amp;locale=en\" style=\"\" rel=\"noopener\">Saudi Azm for Communication and Information Technology<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=8902&amp;locale=en\" style=\"\" rel=\"noopener\">Obeikan Glass<\/a><\/strong> before they make the move to main market Tadawul. You can check out the documents <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/96.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>, and <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/95.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>. Azm and Obeikan will continue to trade on Nomu until the end of the transition document\u2019s publication period. After that, share trading will be suspended for up to five sessions to facilitate the technical transfer to the main market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Azm will transfer with an authorized capital of SAR 30 mn and 60 mn shares, while Obeikan Glass will move with an authorized capital of SAR 320 mn and 32 mn shares. Tadawul will announce the effective date of their main market debut once the remaining procedures are finalized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The two companies received approval for the move <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/df6099aa-feb6-4a99-9886-90914ac7ba35\/tadawul-approves-nomu-listed-azm-%2B-obeikan-glass-transition-to-main-market\" style=\"\" rel=\"noopener\">earlier this week<\/a>, following the companies\u2019 resubmission of their transfer requests in May after an earlier rejection by the exchange. Both companies were listed on Nomu in early 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Saudi Azm enlisted Al Rajhi Capital as financial advisor, KLA as counsel, and Deloitte as financial due diligence advisor. Meanwhile, Obeikan appointed Al Rajhi Capital as financial advisor, KLA as counsel, and PwC as financial due diligence advisor.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#3- <\/strong><strong>Tadawul-listed Saudi Awwal Bank (Sab) is set to issue SAR-denominated Tier 1 Sukuk<\/strong><strong> through a private placement<\/strong> as part of its Additional Tier 1 Sukuk issuance program, according to <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88546&amp;anCat=1&amp;cs=1060&amp;locale=en\" style=\"\" rel=\"noopener\">a disclosure<\/a>. The proceeds will be used to strengthen the bank\u2019s capital base and support its long-term strategic goals. The size of the issuance will be determined at a later stage, depending on market conditions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong>The bank appointed our friends at HSBC Saudi Arabia as the sole arranger and underwriter for the offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Sab closed the private placement of a USD 650 an additional tier-one (AT1) green sukuk offering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/98ca5871-6d1c-4418-9a29-a6645a216684\/%253cmark%253esaudi-awwal-bank%253c%2Fmark%253e,-bank-albilad,-aqaseem-tap-sukuk-markets\" style=\"\" rel=\"noopener\">in May<\/a>. This was part of the lender\u2019s USD 5 bn AT1 capital sukuk program, which aims to shore up its capital base.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#4- <\/strong><strong>Aramco and U<\/strong><strong>AE\u2019s Adnoc are slowing down their multi-bn-USD global<\/strong><strong> acquisitions<\/strong><strong> as falling oil prices put pressure on revenues<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2a1deda6-8016-43e6-9d8d-29e537bb995e\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported yesterday, citing people it says are familiar with the matter. The two companies spent over USD 60 bn on acquisitions over the last three years to expand into gas, chemicals, and lubricants, but both are now reassessing. Government owners have reportedly told the companies \u201cto focus more on dividends and less on growth.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Aramco has been actively purchasing stakes in multiple firms worldwide, including LNG firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/66f5babf-d6f3-405c-8ffa-b10d1d799c08\/aramco-expands-its-foothold-in-south-america%25e2%2580%2599s-lng-market\" style=\"\" rel=\"noopener\">MidOcean<\/a>, US-based lubricants brand <a target=\"_blank\" href=\"https:\/\/www.offshore-technology.com\/news\/aramco-buys-valvolines-lubricants\/\" style=\"\" rel=\"noopener\">Valvoline<\/a>, and combustion engine designer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/954bdae3-cdbe-4325-9704-5f02e8d2dc50\/aramco-acquires-a-10%2525-minority-stake-in%253cmark%253e-horse-powertrain%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Horse Powertrain<\/a>. It has also been in talks to acquire 10% stakes in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a736ad2b-3d0a-4860-87b0-e2bccbea3fe8\/more-love-from-aramco-for-chinese-refineries\" style=\"\" rel=\"noopener\">Chinese petrochemical firms<\/a> Hengli, Shandong Yulong, and Jiangsu Shenghong, as well as an undisclosed stake in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/160a6bd1-63c0-45db-9ca7-009f55c85e80\/aramco,-rongsheng%253cmark%253e-petrochemical%253c%2Fmark%253e-look-to-invest-in-each-other%25e2%2580%2599s-refining-units\" style=\"\" rel=\"noopener\">Rongsheng Petrochemical<\/a>.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over-the-counter (OTC) trading of SAR sovereign bonds reached SAR 2 bn in<\/strong><strong> June<\/strong>, the first full month since the settlement option was introduced in mid-May, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-01\/saudi-arabia-debt-market-draws-533-million-in-first-otc-trades\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing data from Saudi Tadawul Group. OTC activity pushed the total bond market trading to SAR 5.2 bn, up from a monthly average of SAR 4.3 bn, with over 80% of OTC transactions involving foreign investors.<\/p>\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec+ is expected to approve a fourth consecutive 411k bbl \/ d oil supply increase for August this<\/strong> <strong>Sunday<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-30\/oil-traders-expect-a-fourth-bumper-opec-oil-supply-increase\" style=\"\" rel=\"noopener\">Bloomberg<\/a> survey of 32 traders and analysts. The move follows the previous hikes in May, June, and July that were agreed at triple the initially scheduled pace. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oversupply risks and weak demand:<\/strong> The group\u2019s rapid output revival is weighing on prices, with Brent futures down more than 9% YTD to USD 68 \/ bbl, following geopolitical de-escalation between Iran and Israel. JPMorgan expects that Brent futures will decline to the low USD 60s later this year, and fall further in 2026, Bloomberg said. Analysts warn that an August hike could further swell the anticipated global surplus, adding to price pressure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Saudi Arabia is set to produce 9.53 mn bbl \/ d in July under the voluntary production targets agreed in May \u2014 but the planned August target of 9.26 mn bbl \/ d would mark a 3% drop, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/72.pdf\" style=\"\" rel=\"noopener\">note (pdf)<\/a> by EmiratesNBD. With recent output restraint doing little to support prices, the bank remains skeptical that Riyadh or other producers will stick to lower quotas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We took a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ffe52bf5-068a-4a83-b71e-b779e187f4be\/\" style=\"\" rel=\"noopener\">deep dive<\/a><\/strong><strong> on Opec+\u2019s output increase and <\/strong><strong>what it means<\/strong><strong> for us.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia ramp<\/strong><strong>ed <\/strong><strong>up crude exports by 411k bbl \/ d in June to 6.36 mn bbl \/ d<\/strong> \u2014 the highest level since March 2024 \u2014 as it moves to claw back global market share, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-30\/oil-traders-expect-a-fourth-bumper-opec-oil-supply-increase\" style=\"\" rel=\"noopener\">Bloomberg<\/a> \u2019s preliminary tanker-tracking data. June\u2019s shipments saw nearly 190 mn barrels dispatched from Gulf and Red Sea terminals to buyers overseas, with the export blitz coinciding with falling global prices. Brent futures are down more than 9% YTD at <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-30\/oil-traders-expect-a-fourth-bumper-opec-oil-supply-increase\" style=\"\" rel=\"noopener\">USD 67-68 a barrel<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The surge in exports outpaced the volume permitted by the latest Opec+ production hikes<\/strong>, suggesting that Riyadh is leaning hard on its strategy even before summer cooling demand tapers off. The coalition\u2019s phased hike allowed the kingdom to add 167k bbl \/ d in each of May, June, and July \u2014 part of an eight-member Opec+ move to collectively raise output by 411k bbl \/ d a month. A similar increase is on the table for August, with a decision expected at Sunday\u2019s meeting, Bloomberg said.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The 2025 Jeddah Formula E-Prix races set a new record as the most-watched <\/strong><strong>weekend in <\/strong><strong>Formula E history with 65 mn global viewers<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2347757\" style=\"\" rel=\"noopener\">SPA<\/a> reported last week, citing data analysis released by Kantar Media and Emplifi. The double-header night races will return to Jeddah Corniche Circuit on 13-14 February 2026, the only nighttime event on the calendar.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> and  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a>  industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most foreign outlets are leading with US President Donald Trump\u2019s \u201cbig, beautiful bill\u201d <\/strong>this morning, which narrowly passed the Senate following an all-nighter vote-a-rama. The sweeping legislation \u2014 which introduces a trove of tax cuts and reductions to spending on social safety net programs, and boosts immigration enforcement spending \u2014 will now head to the House for final approval ahead of Trump\u2019s 4 July deadline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not going to be easy: <\/strong>Division within the Republican party over some aspects of the bill could make it difficult for the bill to pass, with some hardliners demanding steeper spending cuts, other affected states objecting to changes to Medicaid financing mechanisms, and still some concerned about the USD 5 tn increase in the debt ceiling that the bill is expected bring. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/senate-vote-a-rama-pass-trumps-33-trillion-bill-extends-into-second-day-2025-07-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-01\/trump-s-one-big-beautiful-bill-passes-senate-as-republicans-notch-tax-win?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/jul\/01\/senate-passes-big-beautiful-bill-vote\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/senate-vote-trump-tax-bill-022bd480?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/62fdf4f5-8c9f-4d8b-8753-0b3fd672b746\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/07\/01\/us\/politics\/republican-policy-bill-perilous-fiscal-path.html\" style=\"\" rel=\"noopener\">New York Times<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Trump said Israel has agreed to a proposal for a 60-day ceasefire in Gaza<\/strong> which will now be delivered by mediators in Qatar and Egypt to Hamas. The ceasefire will be used as a period during which \u201cwe will work with all parties to end the war,\u201d Trump said, while urging Hamas to accept the agreement, warning that \u201cthings will only get worse\u201d if it does not. This comes ahead of Israeli Prime Minister Benjamin Netanyahu\u2019s upcoming visit to Washington on Monday, and following an escalation of violence that has killed hundreds in the past day alone. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-01\/trump-says-israel-agreed-to-conditions-for-60-day-gaza-ceasefire?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/trump-discuss-gaza-iran-with-netanyahu-monday-meeting-2025-07-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2025\/jul\/02\/israel-gaza-war-live-updates-trump-ceasefire-hamas-latest-news\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/07\/01\/trump-israel-ceasefire-gaza.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Another Trump deadline is looming: <\/strong>The 90-day pause on reciprocal tariffs is set to end on 9 July, and Trump has confirmed it will resume with the tariffs with countries with which it has yet to reach trade agreements, including Japan, which is set to see a 24% tariff on all of its imports. Trump has threatened to hike the levies for Japan further as trade talks falter. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0e65cca5-bf5b-4596-873e-e8c0502a9fda\" style=\"\" rel=\"noopener\">FT<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Saudi Awwal Bank to issue SAR-denominated Tier 1 sukuk<\/p>\n","protected":false},"author":1,"featured_media":98373,"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":[2540],"tags":[202,10,1169,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-capital-market-authority","tag-enterpriseam-ksa","tag-riyad-capital","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"7ab5a39d-4d34-417b-8691-88e321768d6e","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/7\/1196.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Riyad Capital files for Tadawul IPO + CMA signs off on two fresh listings","related_issue":[98370],"teaser":"PLUS: Saudi Awwal Bank to issue SAR-denominated Tier 1 sukuk","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.455a9529-9e9a-448f-8cf6-cb3d76dcbf6b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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