CAIRO, EGYPT: EFG Hermes Corp-Solutions has signed a sale & lease back agreement with leading real estate development firm Misr Italia Properties for refinancing its state of the art property-Garden 8 Mall, amounting to EGP 750 million. Garden 8 Mall represents approximately 47K m2 in BUA accommodating premium brands for both retail space and restaurants…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
OCI and ADNOC to sell 13.8% Fertiglobe shares in ADX IPO
AMSTERDAM: OCI N.V., Abu Dhabi National Oil Company (ADNOC) and Fertiglobe plc announced their intention to proceed with an initial public offering (IPO) of Fertiglobe and to list its shares for trading on the Abu Dhabi Securities Exchange (ADX). OCI and ADNOC intend to collectively offer 13.8% of Fertiglobe’s issued share capital in the offering….
Gulf International Bank partners with MFME 2021
MANAMA, BAHRAIN: Mentorship Forum Middle East (MFME) 2021 announced Gulf International Bank (GIB) as a partner for its second annual forum taking place as a hybrid event (on-site and virtual) in the Kingdom of Bahrain on 11 November 2021 at the Gulf Hotel. As a forum partner, Gulf International Bank (GIB) supports regional initiatives that…
ADQ to buy 50% stake in IHC’s Eltizam Asset Management for 111.6mn
ABU DHABI, UAE: Abu Dhabi-based International Holding Company (IHC) has entered into a strategic partnership with ADQ, one of the region’s largest holding companies, for a 50% stake in IHC subsidiary, Eltizam Asset Management Group, for a total cash contribution of AED 111.6 million (through a new shares issuance). Founded in 2009, Eltizam is among…
Al Salam Bank plans to acquire group of assets from Ithmaar Holding
MANAMA, BAHRAIN: Al Salam Bank-Bahrain has signed a memorandum of understanding and entered into discussions with Ithmaar Holding to acquire a group of assets from Ithmaar Holding’s group of companies, a bourse filing said on Sunday. Al Salam Bank is keen to maintain its growth trajectory and these discussions with Ithmaar Holding on a potential…
Qatar to ship even more LNG to China
DOHA, QATAR: Qatar Petroleum has signed a 15-year LNG supply deal with China National Offshore Oil Corporation (CNOOC) for 3.5 million tons/year from 2022. This is the third deal signed by Qatar this year to ship LNG to China. They’ve also recently signed contracts with Taiwan and Pakistan Qatar Petroleum has entered into a…
meem by Gulf International Bank Wins “Best Islamic Digital Bank 2021”
MANAMA: Gulf International Bank B.S.C. (GIB) announced that meem, its digital retail banking arm, has been named “Best Islamic Digital Bank 2021” at the 11th Global Islamic Finance Awards (GIFA). Launched in the Kingdom of Saudi Arabia in 2014 and in the Kingdom of Bahrain in 2018, meem is the world’s first digital Islamic retail…
SHUAA to deliver £2bn worth of property developments in London
DUBAI, UNITED ARAB EMIRATES: SHUAA Capital plans to complete and deliver £2 billion worth of property projects in London through its wholly-owned subsidiary Northacre, within 8 months. Northacre is currently focused on completing its two key projects, No.1 Palace Street and The Broadway, both of which are due to complete simultaneously between the end of…
Bahrain Bourse collaborates with Instinctif Partners to develop IR best practice
BAHRAIN: Bahrain Bourse signed Memorandum of Understanding (MoU) with Instinctif Partners MENA, an international business communications consultancy and Investor Relations (IR) advisory. The collaboration seeks to implement IR-related initiatives, which will allow Bahrain Bourse to promote best practice among listed companies, other market participants, as well as internally. The collaboration will include a series of…
Amanat sells 13.13% stake in International Medical Center for SAR 443mn
DUBAI, UAE: Saudi Healthcare and Education Fund, a private investment fund established in the Kingdom of Saudi Arabia, has sold its minority equity interest representing 13.13% of the shares in International Medical Center KSA (IMC) to a private investor for a total consideration of SAR 443 million. Amanat Holdings through its subsidiaries indirectly holds 100%…
Al Seer Marine unveils next generation autonomous surface vessel
ABU DHABI, UAE: Al Seer Marine, the leading marine company in the Middle East Region and is a subsidiary of International Holding Company (IHC), unveiled its next generation of autonomous Surface Vessel (USV) at the Monaco Yacht Show this week. The new platform, “Hydra21”, is a 4-meter Rigid-Hulled Inflatable Boat (RHIB) designed to enhance the…
Technip and NPCC to advance energy transition in UAE, MENA
PARIS, FRANCE: Technip Energies and National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company, have signed a Memorandum of Understanding (MoU) to advance energy transition in United Arab Emirates (UAE) and other countries in the MENA region. The MoU was signed at the GASTECH conference on Sept. 21, by NPCC CEO Eng…