Latest news with #CapitalMarketAuthority
Argaam
a day ago
- Business
- Argaam
Qomel sees continued demand growth, sets timetable for TASI transition: CEO
Hisham Al-Agla, CEO of Qomel Co. said that demand for the company's products has picked up during the first half of 2025, expecting demand to continue growing moving forward. In statements to Argaam, the top executive added that construction work on the new plant is more than 90% complete, with production likely to commence before the end of this year. He indicated that the new plant will directly impact sales growth over the next three years until it reaches full production capacity, highlighting that this will reflect positively on the company's revenues and profits. Al-Agla also stated that the increase in profit margins will occur gradually, as the plant incurred significant capital expenditures initially. 'It is unlikely that current profit margins will be maintained until the plant reaches full production capacity. However, within three or four years, this will begin to reflect positively on margins,' he added. Qomel is seeking to transition to the Main Market (TASI) and has already completed many of the requirements of the Capital Market Authority, said the top executive, noting that a timeline has been set for the transition and application submission, expecting the remaining procedures to be finalized by the beginning of next year. The company has obtained approval from the Saudi Food and Drug Authority to register a number of new products, which have contributed to a gradual increase in sales in the first half of this year. It has a large number of products under registration, and it is expected to obtain successive approvals to market these products during the second half of this year, according to the CEO. He further stated that the pharmaceutical market in the Kingdom is witnessing continuous growth, adding that the company is taking major steps towards keeping pace with this growth and boosting its market share through the sale and marketing of new products. The company's focus remains on the Saudi market at this stage, but it has strategic goals to enter new markets in the region through products that will be manufactured locally once the plant is operational, Al-Agla said. According to data available with Argaam, Qomel's profits rose to SAR 11.8 million during H1 2025, an 8% increase compared to SAR 11 million during the same period in 2024.
CairoScene
2 days ago
- Business
- CairoScene
Sukna Ventures to Invest $80 Million in Saudi & MENA Startups
Sukna Ventures, the tech investment arm of Sukna Capital, is also launching a $100 million Sharia-compliant direct lending fund to provide asset-backed, non-dilutive financing for SMEs. Jul 22, 2025 Riyadh-based Sukna Ventures has announced plans to invest $80 million in early- and growth-stage startups across Saudi Arabia and the broader MENA region. The firm's latest capital injection targets companies in fintech, digital infrastructure, and logistics. Sukna Ventures, the tech investment arm of Sukna Capital, is also launching a $100 million Sharia-compliant direct lending fund to provide asset-backed, non-dilutive financing for small and medium-sized enterprises (SMEs). The fund, approved by Saudi Arabia's Capital Market Authority, will offer shorter lock-up periods and periodic liquidity for investors. Founded in 2022, Sukna Ventures has already backed over 20 regional startups. The firm's new capital raise brings total assets under management to more than USD 130 million. According to the Saudi Central Bank, SMEs received just 9.1% of total bank credit as of Q3 2024, well below the Vision 2030 target of 15% to 20%. By combining equity investment with structured lending, Sukna Ventures aims to address this gap while attracting more institutional capital into the Kingdom's tech ecosystem.
Argaam
3 days ago
- Business
- Argaam
Marketing Home issues prospectus to list 4.8M shares on TASI
Marketing Home Group Co. set a price range for its initial public offering (IPO) on the Main Marlet (TASI). The shares represent 30% of the company's SAR 160 million share capital, divided into 16 million shares, each with a nominal value of SAR 10. For More IPOs The IPO price will be determined after the book-building process. The subscription period will run for two working days, from Aug. 19-20. According to the prospectus, the book-building process and subscription period for participating entities will run from Aug. 3 to Aug. 7. The Capital Market Authority (CMA) approved in March 17 the company's application to list its shares on TASI. The subscription is limited to two categories of investors: Tranche (A) Participating Entities: This tranche includes the parties entitled to participate in the book-building process in accordance with the book-building instructions, including investment funds, companies, qualified foreign investors, GCC corporate investors, and certain other foreign investors pursuant to swap agreements. Tranche (B) Individual Subscribers: This tranche includes natural Saudi individuals, non-Saudi residents in the Kingdom, and GCC nationals. To be eligible, they must have an investment account and an active portfolio with a receiving agent and must also be eligible to open an investment account with a financial market institution. Key background Marketing Home Group is a privately held Saudi joint-stock company based in Riyadh. It began as a sole proprietorship in 2005. The group focuses on construction materials and brand development and management. Its activities include manufacturing concrete, cement, gypsum, and structural metal products, as well as building construction. The company also engages in wholesale fuel trading, solid, liquid, and gas and retail sales of hardware, paint, glass, home appliances, and furniture. It provides land freight and warehousing services. Its main business lines cover tiles and accessories, lighting products, sanitaryware, and HVAC systems. Company Profile Company Marketing Home Group Core Activities Specialized in building materials and brand management Capital SAR 160 mln Number of Shares 16 mln Share Par Value SAR 10 IPO Summary Issue Percentage 30% Offered shares 4.8 mln shares Total No. of Shares Offered to Individual Investors 960,000 shares (20%) IPO Minimum Limit (Participating Entities) 50,000 shares IPO Minimum Limit (Individual Subscribers) 10 shares IPO Maximum Limit (Participating Entities) 799,990 shares IPO Maximum Limit (Individual Subscribers) 250,000 shares Offer period From Aug. 19-20, 2025 Final Allocation Aug. 24, 2025 Refund (if any) Aug. 27, 2025 Company Shareholders Shareholders Before IPO After IPO Number of Shares (mln shares) Ownership (%) Number of Shares (mln shares) Ownership (%) Musaad Algfari 6.40 39.98% 4.48 27.99% Ali Al-Dosari 5.42 33.86% 3.79 23.70% Mohammed AlZamil 1.33 8.31% 0.93 5.82% Other Shareholders 2.85 17.85% 2.00 12.49% Public -- -- 4.80 30.0% Total 16.00 100% 16.00 100% *Ocean Line is wholly owned by ARASCO, which holds the company's entire capital directly and indirectly before the offering.
Gulf Business
14-07-2025
- Business
- Gulf Business
Saudi Arabia's CMA approves key reforms to strengthen asset mgmt sector
Image: Getty Images/ For illustrative purposes Saudi Arabia's Capital Market Authority (CMA) has approved a wide-ranging package of regulatory reforms aimed at strengthening the asset management industry and aligning it with international standards. The approved amendments cover the Investment Funds Regulations , Real Estate Investment Funds Regulations , and the Glossary of Defined Terms . The reforms are intended to improve transparency, investor protection, fund governance, and operational flexibility, particularly for investment fund managers and real estate investment trusts ( CMA's key changes include Expanded distribution channels: Digital platforms and electronic money institutions licensed by the Saudi Central Bank can now distribute fund units, enabling broader access for investors. New REIT flexibility: Real estate funds traded on the parallel market (Nomu) can invest in development projects without initial asset or percentage restrictions. Risk reduction: Money market and capital protection funds must cap exposure to a single debt instrument at 10 per cent and total exposure to one entity at 25 per cent of net assets. Improved governance: Rules now require CMA approval and a 60-day transition period for changes in fund management, ensuring continuity and investor protection. Retail investor limits: Caps were introduced to limit retail investor subscriptions in private and foreign funds to 50 per cent of total contributions, preventing concentration risks. These changes follow a record year in 2024 when the Assets under management reached nearly SAR700bn, growing 25.2 per cent year-on-year. The CMA said the reforms were finalised after public consultations held in June and October 2024 and in February earlier this year.
CairoScene
13-07-2025
- Business
- CairoScene
GCC Residents Can Now Trade in Saudi Stock Market
Individual investors residing in GCC countries can trade listed stocks directly in Saudi, expanding access beyond mutual funds and bonds as part of broader market reforms. The Capital Market Authority has approved regulatory amendments allowing individual foreign investors residing in GCC countries to open investment accounts and directly trade listed stocks on the Saudi main market. Previously, access for such investors was limited to debt instruments, the parallel market, mutual funds, and derivatives. The updated framework expands eligibility, simplifies account-opening procedures, and permits continued trading even after the investor leaves the GCC - provided they had previously opened an account. The move aims to boost foreign investment, enhance market liquidity, and support economic growth.
