Latest news with #DarAlArkan
Arab News
26-06-2025
- Business
- Arab News
Closing Bell: Saudi main index rises to close at 11,068
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Thursday, gaining 94.29 points, or 0.86 percent, to close at 11,068.27. The total trading turnover of the benchmark index was SR5.72 billion ($1.52 billion), as 206 of the stocks advanced and 40 retreated. The Kingdom's parallel market Nomu gained 215.80 points, or 0.80 percent, to close at 27,053.10. This comes as 54 of the listed stocks advanced while 31 retreated. The MSCI Tadawul Index increased 11.41 points, or 0.81 percent, to close at 1,418.88. The best-performing stock of the day was Ades Holding Co., whose share price rose 6.97 percent to SR13.82. Other top performers included National Gypsum Co., whose share price increased 5.66 percent to SR22.40, as well as Zamil Industrial Investment Co., which rose 5.42 percent to SR42.80. Specialized Medical Co. recorded the most significant drop, falling 3.31 percent to SR23.36. Saudi Advanced Industries Co. also saw its stock price fall 2.55 percent to SR26.75. Al-Taiseer Group Talco Industrial Co.'s stock price declined 2.27 percent to SR43.10. Dar Al-Arkan Real Estate Development Co. has closed its 14th sukuk issuance, marking the tenth tranche under its USD-denominated Islamic Sukuk Program, with a total size of SR2.81 billion, the company said in a statement to Tadawul. The five-year sukuk, carrying an annual profit rate of 7.25 percent, was issued on June 25 and attracted strong demand from both regional and international investors. The order book reached SR10.8 billion, nearly four times oversubscribed, according to the bourse filing. The issuance comprised 3,750 sukuk units, each with a par value of $200,000. Dar Al-Arkan appointed Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Alkhair Capital, Al Rayan Investment LLC, Arqaam Capital, Bank ABC, and Dubai Islamic Bank as joint lead managers for the transaction. Also on the mandate were Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, as well as Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank. Shares in Dar Al Arkan ended the session marginally lower, closing at SR19.22, down 0.10 percent. The Board of Directors of Sahara International Petrochemical Co., also known as Sipchem, has approved SR362 million in cash dividends for the first half of 2025, according to a statement published on Tadawul. The payout applies to 752 million eligible shares, translating to a dividend of SR0.50 per share, or 5 percent of the share's par value. Shares in Sipchem closed the session higher at SR19.06, gaining 4.24 percent.
Zawya
26-06-2025
- Business
- Zawya
Saudi Dar Al-Arkan's $750mln sukuk priced
Saudi Arabia-based Dar Al-Arkan Real Estate Development Co.'s 5-year Regulation S $750 million sukuk has been priced at 7.250%, tightening from initial price thoughts in the 7.750% area. The reoffer yield for the senior unsecured sukuk is 7.375%. The Ijara-commodity Murabaha sukuk is expected to be rated B1 by Moody's. The issuance will be listed on LSE's Main Market and Nasdaq Dubai. (Writing by Brinda Darasha; editing by Daniel Luiz)
Zawya
25-06-2025
- Business
- Zawya
IPTs out for Saudi Dar Al-Arkan's USD sukuk
Initial price thoughts (IPTs) for Saudi Arabia-based Dar Al-Arkan Real Estate Development Co.'s 5-year Regulation S USD fixed rate benchmark senior unsecured sukuk are in the 7.750% area. Books open today. The profit rate is fixed and paid semi-annually. The Ijara-commodity Murabaha sukuk is expected to be rated B1 by Moody's. The issuance will be listed on LSE's Main Market and Nasdaq Dubai. (Writing by Brinda Darasha; editing by Daniel Luiz)
Zawya
24-06-2025
- Business
- Zawya
Dar Al Arkan to issue USD fixed-rate senior Sukuk
Dar Al Arkan Real Estate Development Company plans to issue a USD-fixed-rate, Shariah-compliant 'RegS' senior unsecured Sukuk in the global market. The company has mandated a consortium of banks as joint lead managers and bookrunners to conduct a series of fixed income investor calls starting 24 June 24, according to a bourse filing. The consortium includes ADCB, ADIB, Alkhair Capital, Al Rayan Investment, Arqaam Capital, Bank ABC, DIB, Emirates NBD Capital, First Abu Dhabi Bank (FAB), J.P. Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered, and Warba Bank. Following the board's decision on 29 May, the proceeds of the Sukuk will be used for general corporate purposes. Subject to regulatory approvals, the Sukuk issuance will adhere to applicable stabilization rules, including the Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) guidelines. As of 31 March 2025, Dar Al Arkan registered 36.29% higher net profits at SAR 209.34 million, compared with SAR 153.59 million in the first quarter (Q1) of 2024. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Arab News
24-06-2025
- Business
- Arab News
Closing Bell: TASI rises 2.37% to close at 10,964
RIYADH: Saudi Arabia's Tadawul All Share Index rose 254.04 points, or 2.37 percent, to close at 10,964.28 on Tuesday. Total trading turnover reached SR8.48 billion ($2.26 billion), with 248 stocks posting gains and five declining. The Kingdom's parallel market Nomu also recorded an increase, gaining 492.72 points, or 1.87 percent, to settle at 26,850.79, as 73 stocks advanced and 22 retreated. The MSCI Tadawul 30 Index, meanwhile, gained 29.06 points, or 2.11 percent, to finish at 1,406.69. Red Sea International Co. was the best-performing stock of the session, with its share price rising 9.97 percent to SR42.45. Salama Cooperative Insurance Co. followed with a 9.92 percent increase to SR13.52. Other gainers included Saudi Cable Co., which rose to a fresh year high on Tuesday, closing at SR147.20 with a 6.05 percent increase. On the losing side, SABIC Agri-Nutrients Co. saw the steepest decline, falling 4.58 percent to SR104.2. Saudi Arabian Oil Co. dropped 1.62 percent to SR24.34, and Taleem REIT Fund declined 0.85 percent to SR9.30. Dar Al Arkan Real Estate Development Co. announced its intention to issue a dollar-denominated, fixed-rate, Shariah-compliant sukuk under Regulation S, as it seeks to broaden its funding base and support general corporate purposes. The Riyadh-based property developer has appointed a consortium of regional and international banks to act as joint lead managers and bookrunners for the issuance. These include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Alkhair Capital, as well as Al Rayan Investment and Arqaam Capital. Other participants are Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, and First Abu Dhabi Bank. The list also features J.P. Morgan, Mashreq, and Sharjah Islamic Bank, as well as Standard Chartered Bank, and Warba Bank. The appointed banks will arrange a series of fixed income investor calls starting June 24, ahead of the planned sukuk offering in global capital markets. The transaction remains subject to market conditions and regulatory approvals, including compliance with Financial Conduct Authority and International Capital Market Association stabilization rules. The offering is classified as a benchmark senior unsecured sukuk under Regulation S, which allows for international placement with institutional investors. The value of the sukuk will be determined based on market conditions at the time of issuance. According to the company's statement on Tadawul, the proceeds from the issuance will be used for general corporate purposes. The board of directors approved the sukuk issuance on May 29. Dar Al Arkan's share price closed the session 2.70 percent higher to reach SR19.
