Al Kuzama Trading to debut on Saudi's Nomu on June 2
The stock will trade with daily and static price fluctuation limits of ±30% and ±10%, respectively, the Saudi Exchange said in a statement.
This month, the company sold 422,400 shares on Nomu, representing 10.71% of its post-IPO capital, to qualified investors.
The offering was 108.38% oversubscribed, with the price set at SAR 107 per share.
The minimum and maximum subscriptions were fixed at 10 and 197,100 shares, respectively.
(Editing by Seban Scaria seban.scaria@lseg.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
10 minutes ago
- Khaleej Times
Ajman NuVentures launches 'Pay as You Go' package to simplify and reduce business setup costs
Ajman NuVentures Centre Free Zone (ANCFZ), the UAE's most innovative business setup destination, has introduced a flexible new offering: the 'Pay as You Go' package — a forward-thinking, investor-friendly solution designed to eliminate high startup costs and empower entrepreneurs to launch and grow their businesses at their own pace. In a market where affordability, adaptability, and simplicity are more important than ever, the 'Pay as You Go' model offers a smarter path to entrepreneurship. Investors can now establish their companies with minimal upfront costs and choose to pay for additional services — such as visa processing, legal documentation, or office upgrades only when they're needed. "Ajman NuVentures is redefining the business setup experience,' said Rishi Somaiya, CEO of Ajman NuVentures Centre Free Zone. 'With 'Pay as You Go', we're enabling founders to avoid upfront financial burdens, giving them the freedom to scale strategically. It reinforces our goal of giving entrepreneurs the autonomy they need to build and grow their ventures." Ajman NuVentures Centre Free Zone sets itself apart by offering two-hour business license issuance, 24-hour visa processing, and a fully digital portal where ANCFZ specialists manage all setup and administrative tasks on behalf of clients. This allows entrepreneurs to focus on growing their businesses while ANCFZ handles the complexities traditionally associated with business registration and compliance. Designed to meet the needs of today's fast-paced business landscape, ANCFZ's launch of the 'Pay as You Go' package highlights its ongoing commitment to removing barriers, enhancing accessibility, and supporting sustainable economic growth, in alignment with Ajman Vision 2030.
Gulf Business
10 minutes ago
- Gulf Business
Flying Etihad? Know about these latest developments
Image credit: Etihad Airways Etihad Airways has unveiled a significant digital upgrade to its corporate travel offering with the launch of the Etihad for Business portal. This milestone in the airline's digital transformation coincides with the launch of its inaugural flight to Al Alamein, Egypt, reinforcing Etihad's commitment to both corporate and leisure travelers. Read- The newly launched portal enables corporate clients to manage their entire travel programme through a single, user-friendly digital interface, a Businesses can now monitor travel spend, access contract details, and redeem credits for travel-related benefits in real time. 'We've created a platform that puts control directly in our corporate partners' hands,' said Javier Alija, Vice President of Global Sales & Distribution at Etihad Airways. 'Companies can now manage everything from performance tracking to benefit redemptions through one simple interface.' The Etihad for Business programme rewards companies with credits based on travel volume. These credits can be redeemed for a variety of perks including seat upgrades, lounge access, priority check-in, and ground transportation services—designed to enhance the travel experience for corporate employees. Key features offer flexibility and insights The platform is built to streamline business travel operations and reduce administrative burdens. Among its key features: Real-time performance tracking Transparent tiering requirements Automated reporting tools Contract management capabilities Self-service benefit redemptions Dedicated online support and account services Companies of all sizes can access different levels of service based on their travel needs, while advanced analytics and expanded features are expected in future updates. 'Business travel management should be straightforward, not complicated,' Alija added. 'Our portal delivers exactly that—a user-friendly experience that helps companies maximise the value of their travel programmes.' Etihad adds Al Alamein as seasonal summer destination In parallel with its digital rollout, 'The launch of Al Alamein reflects our strategic focus on expanding Etihad's network to serve high-demand seasonal routes,' said Antonoaldo Neves, Chief Executive Officer of Etihad Airways. 'As leisure travel continues to grow, destinations like Al Alamein offer tremendous appeal for our guests seeking premium summer experiences.' The dual developments showcase Etihad's evolving strategy—investing in both digital transformation and network growth to serve a broader customer base. With its enhanced business travel tools and growing list of leisure destinations, Etihad continues to position itself as a forward-thinking global airline.
Zawya
10 minutes ago
- Zawya
Uganda's Quality Chemicals proposes $51mln debt refinancing deal
Uganda's Quality Chemical Industries Ltd is fronting a $51 million debt refinancing deal to its shareholders, inspiring some kind of stock market enthusiasm in an electioneering season in the country. This credit facility comprises a $36 million loan meant to finance the construction of a second pharmaceutical plant in Kampala City and a $15 million working capital loan intended to plug short-term cash flow gaps in the company's operations. Stanbic Bank Uganda is to provide the facility, subject to approval by the company's shareholders at the upcoming annual general meeting (AGM), according to regulatory disclosures filed by the listed drug manufacturer.'The borrowing will fund the construction of a new factory, significantly enhancing our production capacity. This expansion will support increased output of existing products, the introduction of new product lines, and alignment with evolving treatment preferences, particularly injectables,' reads a statement by Quality Chemicals. Calvin Bateme, an equity analyst at Crested Capital, said the move could benefit from the fact that the firm won't suffer exchange rate losses -- for now -- given the Uganda shilling has been fairly stable.'It would be a good idea to provide a foreign currency hedging tool against its dollar loan facilities. There is also new competition to contend with in the local pharmaceutical market. Though the company's dividend policy has improved and the share price has registered steady gains, its share price might not hit more than Ush100 ($0.028) this year, because of limited information flow between the company and its investors,' Mr Bateme said. Coming in an elections campaign season, however, foreign currency risks are likely due to jitters, significant capital flight, shilling depreciation, and higher import inflation, which often arise during electioneering seasons. Uganda goes to the General Election in January 2026. Presidential nominations are scheduled for October 2025, according to the Independent Electoral Commission (IEC) calendar. Weak credit ratings suffered by Uganda's economy last year means credit is still expensive for government and local companies seeking such facilities in the international market. On May 17, 2024, Moody's credit rating agency downgraded Uganda's sovereign rating from B2 to B3 and revised the outlook from negative to stable. This downgrade was attributed to the country's weakened debt affordability, driven by an increased reliance on higher-cost sources of financing.'The resulting rise in borrowing costs widened Uganda's debt affordability gap relative to its peers. Following the downgrade, the Ugandan Shilling experienced significant depreciation, weakening from UGX 3,760 to UGX 3,830 by Monday, May 20, 2024…' reads an excerpt from the Uganda Bankers Association Annual Report for 2024. Quality Chemical Industries's total sales revenues increased from Ush265 billion ($73.4 million) in March 2024 to Ush267 billion ($73.9 million) in March 2025. The company's total cost of sales rose from Ush175.9 billion ($48.7 million) in March 2024 to Ush158.6 billion ($43.9 million) in March 2025.'The macroeconomic factors may be important, but the microeconomics of this market does affect Quality Chemical's performance a lot more. Will the new drugs produced at the new plant enjoy mass market appeal? Are the product unit prices sufficient to protect the company's target profit margins? Business expansion is good, but revenues must back it to justify it to investors,' said a senior executive at Xeno Uganda, who requested anonymity, citing confidentiality rules. The company's share price rose from Ush52 ($0.014) recorded at the end of June 2024 to a record high of Ush90 ($0.025) posted in the first half of 2025. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
