Arab News
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#Abu Dhabi’s sovereign wealth fund has submitted a cash offer that will see itacquire 100 percent of Aramex’s shares, according to an announcement made by the logistics company on Monday.
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GK Singh
Partner @ Baker Tilly JFC | MBA, Strategy, Practice Development & Client Relations
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ADIB Capital Limited, a subsidiary of ADIB - Abu Dhabi Islamic Bank and regulated by the Dubai Financial Services Authority (DFSA), has launchedADIB European Logistics Fund I, a Sharia-compliant investment vehicle that provides investors access to logistics assets in Germany and Western Europe.#uae #abudhabi #capital #bank #islamicbank #dubai #logistics #sharia #investor
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Gulf Business
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Saudi Arabia finance firm United International Holding Company (UIHC) is seeking to raise as much as $264m (SAR990m) from the sale of a 30 per cent stake in an initial public offering (IPO), it disclosed on Monday.The indicative price range was set between SAR120 and SAR132 per share, implying a market capitalisation of between SAR3bn and SAR3.3bn, it said in a statement.UIHC, the parent of Tasheel Finance and Procco, is offering 7.5 million shares, representing 30 per cent of the company’s total issued share capital.The financial services firm is offering the shares in two tranches – institutional investors and retail investors – between October 28 and November 04. The final offer price will be determined at the end of the book-building process.UIHC’s IPO drew in three cornerstone investors – Zamil Group Investment Company, A.K. Al Muhaidib & Sons Company and Tawuniya – that will subscribe for a total of 1.2 million shares at the IPO price, representing approximately 15.6 per cent of the offering.Saudi Tadawul Group | Tasheel Finance | Procco Financial Services W.L.L | #IPO | #SaudiArabia
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Smashi Business
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Strategic Growth in the GCC: Budget Saudi Seals UAE DealBudget Saudi, formally known as United International Transportation Co., has acquired a 70% stake in the UAE-based Overseas Development LLC, marking a pivotal step in expanding its footprint across the region.The deal, completed through Budget Saudi’s subsidiary Aljozoor Alrasekha Trucking Co. (Rahaal), aligns with the company’s strategy to enhance its market presence in the GCC.Originally valued at AED 13.35 million, the stake was re-evaluated and finalized at AED 7.84 million following negotiations. Financial impacts of the acquisition are expected to reflect in Q4 2024.This acquisition follows a binding memorandum signed in March 2023 and signals Budget Saudi’s commitment to strengthening its logistics and transportation capabilities across Saudi Arabia, the UAE, and Kuwait.With approvals secured and ownership transferred as of Dec. 25, Budget Saudi sets its sights on leveraging this partnership to boost regional growth.Budget Rent A Car, Saudi Arabia https://smashi.tv/en/home
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📢 Exciting News for the Moroccan Logistics Sector! We are proud to announce a significant development for one of our subsidiaries, (BLS). The IFC - International Finance Corporation (IFC) has invested 363 million Moroccan dirhams (DH) in BLS, marking a key milestone in our journey to strengthen Morocco’s logistics infrastructure and boost job creation.This investment will enable BLS to scale its operations, leveraging cutting-edge technology to provide enhanced end-to-end logistics solutions for all sectors of its activity. With a presence in 12 cities and over 250,000 m² of assets, BLS is set to continue its growth and solidify its position as a leading Full Logistic Service Provider in Morocco.We are thrilled to be part of this exciting transformation in Morocco's logistics sector, which promises not only to improve service quality but also to create hundreds of new jobs and stimulate economic growth. Thank you to our partners at IFC - International Finance Corporation for their confidence and commitment to supporting BLS’s growth and Morocco’s broader economic development.#Logistics #Investment #IFC #BLS #Morocco #EconomicGrowth #JobCreation #Sustainability #Infrastructure #SupplyChain #Innovation #GlobalTrade #BusinessExpansion #EndToEndLogistics #DigitalTransformation #SustainableGrowth#FutureOfWork #SmartLogistics
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Logistics Peek
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Bahri prepared to invest EUR 1bn-EUR 3bn for full ownership Debt and equity financing considered for potential deals Germany andREAD MOREFor daily news and analysis subscribe to thehttps://lnkd.in/eZXZfBx6 newsletter.#Logistics #SupplyChain #Transport
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baraka (YC S21)
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Rasan's IPO Stuns Riyadh Market 🚀Saudi fintech Rasan Information Technology Co. made a strong debut in Riyadh, raising 841 million riyals ($224 million) amid a listing spree in the kingdom.💪 Shares soared 30% to 48.1 riyals from the offer price of 37 riyals, reflecting high demand when the offer was announced. Investors placed orders worth $29 billion, making the deal 129 times oversubscribed.💪 Saudi Arabia is working to diversify its stock exchange beyond banks and industrial companies. The technology sector has seen few listings, with food delivery firm Jahez being a notable exception in late 2021.💪 Recent weeks have seen a surge in companies unveiling plans to list on the Riyadh bourse, attracting overwhelming investor interest. Saudi Aramco’s mega stock offering this month raised $11.2 billion, the biggest such deal globally in about three years.Saudi Fransi Capital and Morgan Stanley acted as joint financial advisers, bookrunners, and underwriters for Rasan’s IPO. Rasan, operating online insurance platforms like Tameeni | تأميني and Treza, is among the first fintech firms to go public in Saudi Arabia. Moreover, alongside Rasan, buy-now-pay-later company Tabby and online cosmetics retailer Nice One are also eyeing IPOs. 🎯
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Natt Chongsanguan
Chief Executive - Principal Rebalance Limited
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I Am Intrigued by This NewsIt’s fascinating—and concerning—that Malaysia Airports Holdings Berhad (MAHB) may be privatized, removing public shareholders and scrutiny. The deal raises critical questions about governance, transparency, and whose interests it ultimately serves.Crux of the TransactionMalaysia’s sovereign funds, Khazanah and EPF, already own 41.1% of MAHB. This “right hand into left hand” maneuver will see them buying out public shareholders with fresh cash from ADIA and GIP, delisting MAHB and ending public accountability.Privatization ObjectiveProponents argue privatization allows a long-term focus on infrastructure upgrades and efficiency, free from public market pressures. Critics counter that it shields the company from transparency and mainly benefits institutional stakeholders over public interests.New StakeholdersThe Abu Dhabi Investment Authority (ADIA) and Global Infrastructure Partners (GIP) will inject fresh capital for their 30% stake in MAHB. Meanwhile, Khazanah (40%) and EPF (30%) consolidate control, ensuring domestic dominance in decision-making.Turkish Asset SignificanceMAHB’s ownership of Istanbul’s Sabiha Gökçen Airport, a high-growth international asset, makes the deal especially appealing to global investors. However, delisting MAHB removes this prized asset from public scrutiny, raising concerns about transparency.Governance ConcernsDelisting shields MAHB’s governance and financials from public view. With reduced accountability, decisions may prioritize the interests of select stakeholders, undermining broader public benefits tied to this vital national infrastructure.
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Oman Observer
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Promising companies market launched to boost Omani SMEsMUSCAT: In a significant move to boost the growth of private companies, family businesses, and small and medium enterprises (SMEs), the Financial Services Authority (FSA) has announced the establishment of the “Promising Companies Market” as a sub-market within the Muscat Stock Exchange (MSX).This initiative aims to create a conducive environment for these companies to gain experience in financial markets, explore financing alternatives, and prepare for conversion into public joint stock companies. Shaikh Abdullah bin Salim al Salmi, Executive President of the FSA explained that the Promising Companies Market will operate under flexible listing requirements, supervised by the FSA.Read more: https://lnkd.in/dNacn8tDFinancial Services AuthorityMuscat Stock Exchange S.A.O.CMinistry of Finance - OmanAuthority for SME Development #PromisingCompaniesMarket #MSX #SMEs #Market #Financial #Sustainability #Oman #OmanBiz
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Federico Maccioni
Gulf Financial Correspondent at Reuters
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Abu Dhabi sovereign wealth fund ADQ plans to launch a takeover offer for Aramex, bidding for the shares it does not already own in the courier firm as it works to bolster its logistics holdings.The offer would value the logistics firm at $1.2 billion.
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AviaExchange
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Thai Airways Plans $1.27 Billion Rights Offering - Thai Airways Internationalhas announced plans to raise up to$1.27 billionthrough a share rights offering, marking a pivotal step in its efforts to exit court-superviseddebt restructuring. This initiative will also enable the resumption of the trading of the airline’s stock on the Thai stock exchange. - https://lnkd.in/eyYTXYwT
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