Saudi's Riyad Bank to issue USD T2 Trust Certificates
Standard Chartered, HSBC, Merrill Lynch International, JP Morgan Securities, SMBC Group, Mizuho International, DBS Bank, and Riyad Capital have been appointed as Joint Lead Managers.
The Trust Certificates will be issued under the lender's international trust certificate issuance programme. The amount and terms of offer will be determined subject to market conditions.
Saudi Arabia's $925 billion Public Investment Fund is the largest shareholder in Riyad Bank, holding a 21.75% stake in the kingdom's third largest lender. The Saudi government also holds a 10.39% stake in Riyad Bank, according to LSEG data.
Earlier this week, the Saudi lender also submitted an application to the Capital Market Authority (CMA) for the IPO of its subsidiary Riyad Capital, with shares floated on the Main Market.
(Writing by Bindu Rai, editing by Seban Scaria)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
27 minutes ago
- Zawya
Egypt: Bonyan opens EGX's 1st full IPO of 2025 on July 6th
Arab Finance: Bonyan for Investment and Development begins trading on the Egyptian Exchange (EGX) Sunday, July 6th, in what is currently the market's first full initial public offering (IPO) of the year. The company is seeking to raise EGP 1.8 billion by offering 20% to 21.9% of its shares, about 362.903 million shares, according to its IPO prospectus. The listing includes retail and institutional tranches, with an indicative price range between EGP 4.96 and 5.44 per share. Independent financial advisor Baker Tilly valued the stock at a fair value of EGP 7.52 per share. Under the private placement, institutional investors and individuals with financial solvency are allocated 95% of the offered shares, representing 344.758 million shares or 20.8% of the company's shares. This tranche is open until July 10th, with a minimum subscription of EGP 10 million and a 30-day, 15% price stability mechanism. AS for the public offering, natural and legal persons can subscribe to the remaining 5% of the offering or 18.145 million shares, around 1.1% of the company's share, until July 15th. Subscriptions range from a minimum of 100 shares to a maximum of 200,000 shares, with a 30-day, 100% price stability mechanism. The final share price will be announced on July 11th. The company will proceed with a EGP 250 million capital increase through a closed subscription of 50.4 million shares by its sole shareholder, Sky Realty Holding. Bonyan had initially aimed to raise EGP 3 billion through the IPO, targeting a 33% stake, including EGP 2.5 billion from a secondary offering and EGP 500 million from newly issued shares. CI Capital and Arqaam Capital are coordinating and bookrunning the offering, with Mubasher as the offering agent. Legal counsel is being provided by Matouk Bassiouny & Hennawy. PwC is acting as auditor. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
UAE Moments
29 minutes ago
- UAE Moments
UAE Unveils AI-Powered Strategy to Transform Govt Services
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, has officially launched a sweeping new federal strategy that will leverage artificial intelligence to manage resources and streamline government services. Announced as part of the UAE Federal Government Strategic Plan 2031, the initiative is a key pillar of the 'We the UAE 2031' vision, aiming to modernize how the government operates, delivers services, and allocates resources. 'We're proud to launch the UAE Federal Government Strategic Plan 2031 – a new chapter in shaping a smarter, faster and more efficient government,' said Sheikh Mohammed, according to Dubai Media Office. 'Today, success means making things easier and faster – delivering seamless services and using resources wisely in a complex world,' he added. From red tape to real-time: AI takes center stage Sheikh Mohammed emphasized that AI will be embedded into the very core of federal operations. The focus? Efficiency, innovation, and flexibility across ministries—without compromising the UAE's commitment to quality and citizen satisfaction. This revamped planning cycle will engage 38 federal entities, bringing together strategic minds in finance, future planning, and administration. Ministries have been tasked with aligning their goals to reflect the evolving demands of a high-tech future. And it doesn't stop there. Last month, Sheikh Mohammed announced that a National Artificial Intelligence System will become an advisory member of the UAE Cabinet starting January—marking a global first and signaling just how central AI will be to governance moving forward. 'The world is going through comprehensive restructuring, scientifically, economically and socially,' Sheikh Mohammed said. 'Our goal is being ready today for the coming decades and ensuring continuing prosperity and a decent life for the following generations.' A future-proof federal playbook This new AI-forward strategy echoes the UAE's long-standing commitment to future-proofing its systems. Rather than expanding bureaucracy, the plan focuses on smarter tech, leaner teams, and faster delivery —all while keeping citizens at the heart of innovation. With artificial intelligence officially part of the federal equation, the UAE is not just adapting to the future—it's shaping it.
Khaleej Times
38 minutes ago
- Khaleej Times
Meerab Properties LLC wins two prestigious awards; strengthens position as a regional leader in real estate
Dubai-based Meerab Properties LLC has achieved a significant milestone by winning two distinguished honours at the Luxury Lifestyle Awards 2025. The company was recognised for excellence in property management services and commercial real estate development, standing out among a global pool of nominees in these competitive categories. Founded in 2013, Meerab Properties has steadily grown into a trusted name in Dubai's real estate landscape. With Pervaiz Shahid Iqbal at the helm as the CEO of the company, it has focused on providing high-impact leasing and property management solutions across warehouse spaces, labor accommodations, residential units, and commercial offices. Its strong presence in strategic locations across the UAE, combined with a client-first approach and operational transparency, has made it a preferred choice for both landlords and tenants. The recent awards validate the brand's unwavering commitment to service excellence and innovation in property management. Meerab Properties has adopted proactive maintenance strategies, maintained regulatory compliance, and prioritised customer satisfaction resulting in consistent growth and tenant retention across its portfolio. This recognition comes at a time when the UAE's property sector is placing increasing emphasis on value-added services and long-term asset optimisation. With rising expectations for professionally managed spaces, the need for reliable, well-structured firms like Meerab Properties is stronger than ever. Pervaiz Iqbal Shahid, CEO of Meerab Properties LLC, shared his vision: "At Meerab, we believe in building more than just properties - we build long-term relationships rooted in trust, performance, and value. Our goal is to be the preferred partner for property owners and tenants by delivering reliable, transparent, and sustainable real estate solutions across markets." Extending its impact beyond borders, Meerab's sister company FP Global, also chaired by Iqbal, is spearheading the development of the Hyatt Hotel in DHA Lahore, Pakistan. Currently over 80 per cent complete, the luxury hotel is on track for handover by late 2026 and is expected to become a benchmark in hospitality for the region. The property will offer premium rooms and suites, banquet halls, business facilities, fine dining, and wellness amenities; all built to international standards. This expansion reflects a broader shift in strategy among the UAE-based firms aiming to diversify their portfolios across high-growth markets. Projects like Hyatt DHA Lahore illustrate how real estate and hospitality are converging to create experiential, investment-ready assets that deliver both lifestyle value and commercial returns.
