H.E. Bin Touq holds high-level meetings in Cyprus and Greece to strengthen economic partnerships and expand tourism collaboration

Discussions highlight UAE’s efforts to drive economic growth and diversification in line with the objectives of ‘We the UAE 2031’ vision

 

Abu Dhabi, 13 June 2025:

H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of Investopia, held bilateral meetings with ministers from the Republic of Cyprus and the Republic of Greece to explore avenues for enhancing economic and investment cooperation. Discussions focused on emerging sectors such as innovation, digital infrastructure, food security, renewable energy, smart tourism technology, and sustainable environmental practices.

The meetings took place on the sidelines of the inaugural Investopia Global – Mediterranean Edition in Cyprus, which drew broad participation from ministers, government officials, business leaders, investors, entrepreneurs, and decision-makers from the UAE, Lebanon, Cyprus, and across Europe. The meetings were also attended by H.E. Mohammad Alhawi, Undersecretary of the Ministry of Investment; H.E. Mohammad Saif Al Shehhi, UAE Ambassador to the Republic of Cyprus; and H.E. Shaikha Nasser Al Nowais, Secretary-General Elect of UN Tourism for the 2026–2029 term.

During the discussions, H.E. Bin Touq elaborated on the UAE’s efforts to accelerate the growth and diversification of the national economy, increase non‑oil sector contributions to GDP, and accelerate the transition to an innovative, knowledge‑based economic model. H.E. also highlighted the national goals of the ‘We the UAE 2031’ vision and their role in reinforcing the UAE’s position as a global hub for business, investment, and the new economy by next decade.

H.E. Bin Touq’s meeting with H.E. Georgios Papanastasiou, Minister of Energy, Commerce and Industry of Cyprus, explored the expansion of economic partnership between the UAE and Cyprus and the creation of new pathways for business communities in both countries to establish strategic partnerships. H.E. noted that the longstanding relations between the two countries are built on mutual understanding and fruitful cooperation, marked by continuous development across all strategic sectors, particularly economic and investment ones.

The meeting explored opportunities to expand support mechanisms for UAE companies operating in Cyprus, facilitating their growth in the market. It also emphasized the potential for Cypriot exporters to leverage the UAE’s strategic position as a global business and investment hub. Furthermore, the UAE’s extensive network of regional and international economic partnerships and trade agreements offers significant advantages for export and import activities, creating mutually beneficial opportunities for both nations.

The Minister of Economy also met with H.E. Dr. Konstantinos Kombos, Minister of Foreign Affairs of Cyprus, to explore avenues for deepening bilateral economic cooperation in key areas of mutual interest. H.E. Bin Touq reaffirmed the UAE’s commitment to fostering stronger economic ties with Cyprus, particularly in future-oriented sectors such as energy, renewable energy, and industry. Both sides emphasized the potential for collaboration in sustainable economic projects and underscored the value of knowledge exchange and best practices to drive mutual growth.

During a separate meeting with H.E. Kostas Koumis, Minister of Tourism of the Republic of Cyprus, H.E. Bin Touq elaborated on the UAE Tourism Strategy 2031, outlining its comprehensive framework to enhance the country’s appeal as a premier destination for international travelers and investors alike. The strategy aims to position the UAE as the world’s leading tourism hub by 2031, driving growth across tourism, hospitality, and related investment sectors. H.E. also highlighted how the initiative will reinforce the UAE’s status as a global frontrunner in tourism innovation and destination development.

In addition, the two ministers discussed potential joint tourism initiatives in both markets and the broader Eastern Mediterranean region. Emphasis was placed on launching innovative programs in sustainable and green tourism to further stimulate bilateral tourism exchange.

Finally, H.E. Bin Touq’s meeting with H.E. Olga Kefalogianni, Greek Minister of Tourism, discussed the strengthening of bilateral tourism cooperation across multiple sectors. The discussions focused on three key areas: sharing expertise in smart tourism infrastructure, promoting sustainable environmental practices, and developing joint programs to increase tourism exchanges between both countries. H.E. Bin Touq highlighted the meeting's significance as a key milestone in advancing UAE-Greek tourism relations, building further on the two countries' growing economic partnership.

Tourism collaboration between the UAE and Greece continues to witness significant growth, as reflected in the latest visitor statistics. In 2024, the UAE welcomed 20,452 Greek visitors, marking a 25 per cent increase compared to 16,366 visitors in 2023. This positive momentum is further reinforced by strong air connectivity, with 33 weekly flights currently operating between the two countries via their respective national carriers.

 

The Ministry of Investment for Saudi Arabia Shows Support for New Health and Fitness Event

 

Riyadh, Saudi Arabia

The Ministry of Investment for Saudi Arabia and its Sport Sector Team have signed an investment agreement with RX Arabia to support the successful launch of FIBO Arabia in the Kingdom, which will debut at the Riyadh Front Exhibition & Conference Center from 1-3 October 2025. The sports and fitness industry in Saudi Arabia continues to gain considerable momentum.

 

Vasyl Zhygalo, Managing Director, Middle East and Emerging Markets, RX

 

Organised by RX, a global leader in events and exhibitions, and under the theme for a strong and healthy society, FIBO Arabia is already 60% sold out following a successful sales launch at FIBO’s flagship tradeshow in Cologne, Germany last month. There, 1,200 exhibitors and partners from 60 nations and 154,748 visitors from 129 countries were welcomed.

 

The launch of FIBO Arabia coincides with the Saudi government's significant support for investing in the country’s sports sector as part of the Kingdom’s 2030 strategy to diversify its economy. The government aims to increase sports spending by US$22 billion by 2030, encompassing sports clubs, academies, sportswear and equipment, and sports facilities.

 

Vasyl Zhygalo, Managing Director, Middle East and Emerging Markets, RX, “We are honoured that the Ministry of Investment for Saudi Arabia is supporting the launch of FIBO Arabia. This underscores the importance of health and fitness to the Saudi Arabian government and highlights its investment-friendly attitude towards overseas entrepreneurs and progressive companies that want to invest in their health and fitness sector.”

 

The country’s focus on becoming a global sports hub is underscored by the announcement of major events to take place in Saudi Arabia, including the 2034 FIFA World Cup, the 2027 AFC Asian Cup, and the 2029 Asian Winter Games, which will provide a significant boost to its position as a global sports hub.

 

Furthermore, according to Gymnation, which operates a chain of fitness centres in Saudi Arabia and the UAE, the Saudi fitness market is expected to grow at a compound annual growth rate (CAGR) of 9.7% between now and 2032 when the health and fitness market is projected to be worth US$2.28 billion. The growth in the market is largely attributed to government initiatives aimed at enhancing the population's quality of life and promoting physical activity, as well as a rise in health consciousness among the population.

 

Basim K. Ibrahim, Sport Sector Investment Development Director, Ministry of Investment for Saudi Arabia, added, “FIBO Arabia represents a pivotal platform in advancing Saudi Arabia’s Vision 2030 goals by promoting a culture of fitness and wellness while also highlighting the Kingdom’s growing potential as a hub for investment within this sector. With increasing emphasis on exercise, sports, and wellbeing across the Kingdom, the event provides a vital opportunity for international and local brands to showcase the latest innovations and technologies in the industry. We look forward to the positive impact FIBO Arabia will have on our communities and the exciting prospects it will unlock for the future.”

 

Professional development will be a key focus of the show, with FIBO Arabia hosting a series of expert-led workshops, seminars, and keynote sessions. These continuing education opportunities are designed to equip attendees with the tools, insights, and certifications needed to thrive in today’s rapidly evolving fitness and wellness landscape.

 

From innovation and education to networking and live engagement, FIBO Arabia 2025 promises to be a must-attend event for anyone passionate about shaping the future of health, fitness, and wellness in the Middle East and beyond.

For more information on FIBO Arabia, please visit www.fibo-arabia.com.

الاتحاد للطيران تنشر نتائج حركة الركاب لشهر مايو 2025

 

 

 

12 يونيو 2025 2025 حتى تاريخه 2024 حتى تاريخه مايو 2025 مايو 2024   8.4  مليون 7.2 مليون 1.7 مليون 1.5 مليون المسافرون 87% 85% 87% 84% عامل حمولة المسافرين     100 90 حجم الأسطول المشغّل[1]     72 68 وجهات المسافرين           أبوظبي، الإمارات العربية المتحدة -كشفت الاتحاد للطيران، الناقل الوطني لدولة الإمارات، عن النتائج الأولية لحركة المسافرين لشهر مايو 2025، والتي عكست استمرارها في النمو والطلب القوي.   ورحبت شركة الطيران بـ1.7 مليون مسافر خلال الشهر، بزيادة 19% عن الفترة نفسها من العام الماضي. يعكس هذا النمو المستمر التوسع الاستراتيجي للشركة ومكانتها القوية في السوق. وقد ارتفع معدل حمولة الركاب إلى 87%، مقارنةً بـ 84% في مايو 2024، مما يعزز قدرة الاتحاد للطيران على تحسين سعتها مع الحفاظ على الطلب المرتفع.   ويبلغ أسطول طائرات الاتحاد للطيران حالياً 100 طائرة، مما يدعم شبكتها المتنامية وخدماتها المتطورة. وخلال الأشهر الخمسة الأولى من العام 2025، استقبلت الاتحاد 8.4 مليون مسافر، بزيادة 17% عن الفترة نفسها من العام 2024 مع حفاظها على معدل حمولة مهم بلغ 87%.   وبهذه المناسبة قال أنطونوالدو نيفيس، الرئيس التنفيذي للاتحاد للطيران: " شهدنا نموًا مستمرًا ومُرضيًا في أعمالنا، حيث ارتفع عدد المسافرين بنسبة 19% على أساس سنوي، مما يؤكد مكانتنا كأسرع شركة طيران نموًا في الشرق الأوسط. وتُظهر نتائجنا السنوية حتى الآن أن أكثر من 8 ملايين مسافر قد سافروا معنا خلال عام 2025، ويبلغ عدد المسافرين على مدار 12 شهرًا ما يقرب من 20 مليون مسافر، مما يُؤكد الثقة الكبيرة بخدمات الاتحاد للطيران.   "حققنا إنجازًا هامًا في مايو، حيث بلغ عدد طائرات أسطولنا 100 طائرة. ومع استمرارنا في توسيع شبكة مساراتنا وتنمية أسطولنا خلال الأشهر المقبلة، يبقى تركيزنا منصبًا على تقديم تجربة عملاء سلسة واستثنائية."

GAC INTERNATIONAL تطلق مشروع CKD في مصر، رائدةً نموذجًا جديدًا للتعاون الصناعي بين الصين وأفريقيا

القاهرة, 11 يونيو/حزيران 2025  /PRNewswire/ -- في 19 ماي/أيار 2025، عُقد بنجاح مؤتمر تبادل التعاون الاقتصادي والتجاري بين منطقة خليج غوانغدونغ وهونغ كونغ وماكاو الكبرى وأفريقيا (مصر) في القاهرة بمصر، وحضر المؤتمر تسانغ كووك واي، سكرتير الشؤون الدستورية وشؤون البر الرئيسي لمنطقة هونغ كونغ الإدارية الخاصة، ويو يو يوشينغ، رئيس معهد ماكاو لترويج التجارة والاستثمار، ومحمد أبو العينين، نائب رئيس مجلس النواب المصري. حضر المؤتمر فنغ شينغيا، رئيس مجلس إدارة ورئيس مجموعة GAC، ووي هايغانغ ووانغ شونشنغ، رئيس ونائب رئيس شركة GAC INTERNATIONAL، والإدارة العليا لشركة عبد اللطيف جميل للسيارات، ووقعوا اتفاقية تعاون في الموقع لتوطين الإنتاج المحلي بالكامل في مصر.

أشار وي هايغانغ إلى أن شركة GAC INTERNATIONAL قد رسخت بصمتها في 76 دولة ومنطقة حول العالم، حيث قامت ببناء نظام شامل يغطي المبيعات والخدمات والعمليات المحلية. يشمل مشروع توطين صناعة CKD الذي تم توقيعه حديثاً إنشاء خطوط اللحام والتجميع النهائي وفحص المركبات، ومن المتوقع أن يتم الإنتاج بكميات كبيرة في النصف الثاني من عام 2026. ستعمل هذه المبادرة على تعزيز قدرات التصنيع والخدمات المحلية لشركة GAC بشكل كبير مع المساهمة في تطوير صناعة السيارات في مصر والقدرة التنافسية للتصنيع.

وبعد اجتماع التبادل، عقد فنغ شينغيا اجتماعًا رفيع المستوى مع كامل الوزير، نائب رئيس الوزراء ووزير الصناعة المصري. وتماشيا مع "الاستراتيجية الصناعية الوطنية" في مصر، أجرى الجانبان مناقشات عملية حول الأهداف الأساسية، ووقعا اتفاقية إطارية للتعاون الاستراتيجي، مما يمثل فصلا جديدا في التعاون بين صناعة السيارات بين الصين ومصر.

يستجيب هذا التعاون للدعوة المشتركة من حكومتي مقاطعة قوانغدونغ ومصر لتعميق التعاون الصناعي ويمثل علامة فارقة في التزام شركة GAC بـ"التصنيع المحلي والخدمة المحلية". فهو يضخ زخماً تكنولوجياً جديداً في صناعة السيارات في مصر. تعتبر شركة GAC INTERNATIONAL مصر مركزاً محورياً لمنطقة الشرق الأوسط وأفريقيا. بالإضافة إلى ذلك، وبالشراكة مع شركة عبد اللطيف جميل، ستواصل شركة GAC INTERNATIONAL تنمية السوق الأفريقية والمساهمة في "رؤية مصر 2030"، وفتح فصل جديد في التعاون الاقتصادي بين الصين وأفريقيا.

Ministry of Economy and Dubai Police sign MoU to enhance cooperation in developing compliance mechanisms for AML/CFT requirements

Partnership with Dubai Police supports the Ministry's efforts to combat financial crimes through enhanced institutional integration

Abu Dhabi, 8 June 2025:

The Ministry of Economy signed a Memorandum of Understanding (MoU) with Dubai Police General Command to strengthen cooperation and coordination in developing compliance mechanisms for anti-money laundering (AML) and combatting the financing of terrorism (CFT) requirements. The agreement facilitates the exchange and integration of information between the two entities, thus enhancing supervisory roles within the national legislative framework.

The MoU was signed on the sidelines of the fourth edition of the World Police Summit, held at the Dubai World Trade Centre under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The agreement was signed by H.E. Safia Hashim Al Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry of Economy, and H.E. Major General Expert Khalil Ibrahim Al Mansoori, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police.

H.E. Safia Al Safi emphasised that the UAE has made significant strides in developing advanced strategies, policies, and legislation to combat money laundering and terrorism financing in line with the highest international standards. This has further reinforced the national economy's position as a competitive trade and business hub committed to the highest standards of integrity and transparency. H.E. noted that the partnership with Dubai Police aligns with the Ministry's vision to enhance collaboration with federal and local entities, thereby strengthening the national framework and developing mechanisms to combat financial crimes and enhance regulatory infrastructure in accordance with relevant international standards.

H.E. Safia Al Safi explained that the MoU establishes a sustainable institutional framework between the Ministry and Dubai Police to collaborate on various AML/CFT procedures within the country, including control, inspection, and monitoring of illicit activities. This partnership aims to elevate the efficiency of control and follow-up systems and serves shared objectives in combating financial crimes within the country.

Supporting national efforts

H.E. Major General Expert Khalil Al Mansoori said: "The MoU with the Ministry of Economy is a significant milestone in enhancing institutional integration among relevant entities involved in combating financial crimes. Dubai Police is committed to supporting national efforts to counter money laundering and combat terrorism financing by advancing its technical and human competencies. We aim to leverage Dubai Police's research, investigation, and financial analysis ecosystems to develop effective, proactive mechanisms for detecting suspicious activities and enhancing rapid responses to associated risks, in line with global best practices. This plays a role in reinforcing the UAE's position as a secure and transparent global economic hub."

H.E. further emphasised that the collaboration marks a significant step forward in integrating national efforts and unifying resources and expertise to develop more precise and effective regulatory tools, while continuing to invest in national talent and smart technologies to build a safer and more stable environment.

Counselor Salem Al Tunaiji, Director of the Anti-Money Laundering and Counter-Terrorism Financing Department at the Ministry of Economy, explained that the MoU provides advanced mechanisms for technical and security coordination between the Ministry and Dubai Police. This includes the exchange of data related to money laundering and terrorism financing crimes, aligning with the Ministry's role in supervising Designated Non-Financial Businesses and Professions (DNFBPs) and identifying the real beneficial owners of legal entities.

Under the scope of the MoU, both parties will collaborate on developing integrated mechanisms and programs to elevate risk response efficiency related to suspicious financial activities within the DNFBP sector, which include real estate agents and brokers, traders of precious metals and stones, auditors, and company service providers. This will be realised through the exchange of data on suspicious transactions and activities and the activation of secure and effective institutional communication channels to ensure the swift exchange of confidential data in line with the approved legal and regulatory frameworks. These efforts support their awareness endeavours to prevent and deter violators, in line with the applicable legislations and regulations in the UAE.

The MoU also outlines the implementation of joint training programs and specialised workshops aimed at enhancing the professional competencies of both parties' staff and the development of  periodic analytical reports to support decision-making, ensuring the comprehensive application of administrative and regulatory procedures.

Additionally, the MoU includes provisions to support awareness and media campaigns related to institutional compliance and financial crime prevention, as well as collaboration in developing relevant policies and legislation and reviewing regulatory frameworks to ensure their alignment with international requirements.

US jobs report surprises to upside—forget a summer rate cut from Fed

-FOR IMMEDIATE RELEASE-

June 6 2025

The latest US jobs report came in hotter than expected, all but shutting the door on hopes for interest rate cuts this summer, says Nigel Green, CEO of global financial advisory and asset management organization, deVere Group.

Stock futures surged and bond yields climbed after the US economy added 139,000 jobs in May—well above the 125,000 that had been priced in. 

He comments: “The labor market’s resilience puts the Fed in a difficult spot: inflation pressures remain sticky, and the cooling many expected simply hasn’t materialized in the data that matters most.

“This report puts another nail in the coffin for any talk of rate cuts in the summer. The Fed has said time and again it needs to see weakness in the labour market to move. This isn’t weakness. It’s strength with staying power.”

The report comes at a time when investors are already digesting a new wave of uncertainty stemming from trade policy shifts. As tariffs ramp back up under the Trump administration, inflationary pressure is poised to accelerate. 

While these effects may take weeks or months to show fully in the CPI or PCE figures, markets are already preparing for another round of cost-driven price increases that will muddy the waters for policymakers.

“Inflation isn’t going to go gently,” Nigel Green adds. “We’re now seeing the early signs of a rebound in core pricing due to tariffs and wage pressures, and with job creation holding firm, there’s simply no justification for the Fed to move early.”

He continues: “It’s becoming increasingly apparent that the central bank will need to wait until at least September before cutting, if not later. 

“That delay carries consequences—particularly for interest-rate-sensitive assets like tech stocks, growth sectors, and riskier emerging markets that had been pricing in easier policy.”

The bond market has responded decisively. Yields on the 10-year Treasury climbed sharply following the report, as traders revised their expectations. 

Meanwhile, equities have staged a short-term rally on the idea that the economy is still running strong—but underlying that is a sense of growing caution. 

With real rates remaining high and inflation likely to tick higher in June’s print, risk assets are increasingly exposed to a re-rating.

“Investors need to reposition fast,” warns Nigel Green. “This is a policy pivot moment, but not the one people hoped for. The pivot isn’t toward cuts—it’s toward patience. The central bank is back on watch-and-wait mode, and that means portfolios should start reflecting more defensive allocations.”

There are deeper concerns building too. The longer interest rates stay elevated, the more vulnerable over-leveraged sectors become. Commercial real estate, consumer credit, and regional banks—already under stress—could soon find the environment more difficult than many are anticipating.

On top of this, there is no clear signal yet on how expansive the new trade regime will become. The inflationary pass-through from tariffs tends to show up in delayed waves, but the direction is unmistakable. 

Global firms with cross-border supply chains will face mounting pressure, and those costs are rarely absorbed quietly.

The Fed’s next meeting will likely confirm what the jobs report has already shown: the data is not moving fast enough in the right direction. 

Talk of a summer cut now looks outdated. Even September is starting to look optimistic unless there’s a marked slowdown in hiring or a major downside surprise in inflation.

“This is the moment to reassess,” Nigel Green concludes. 

“Too many investors positioned for a summer easing are now badly offside. The jobs number has redrawn the map. Forward-looking strategies must reflect that reality—now, not later.”

Specialized Medical Company Announces the Final Offer Price for its Initial Public Offering

 

Riyadh, Saudi Arabia – 04 June 2025: Specialized Medical Company (“Company” or “SMC”), one of the leading healthcare providers in the Kingdom of Saudi Arabia (“Kingdom”), recognized as a center of excellence delivering comprehensive and integrated healthcare services across a wide range of specialties, announces the successful completion of the book-building process for institutional investors (“Participating Parties”) and the final offer price (the “Final Offer Price”) for its initial public offering (the “IPO” or the “Offering”) on the Main Market of the Saudi Exchange.

The Final Offer Price has been set at SAR 25.00 per share, which is at the top end of the previously announced price range for the IPO, implying a total offering size of around SAR 1,875 million (USD 500 million) and a market capitalization at listing of SAR 6,250 million (USD 1,667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion (approximately more than USD 32.4 billion), representing a coverage of 64.7 times.

In line with regulatory requirements, SMC issued a Second Supplementary Prospectus reflecting a shareholder decision to revoke previously distributed interim dividends.  Following this, the institutional book-building was reopened exclusively to existing institutional participants, offering them the opportunity to amend or rescind their bids.

SMC received strong level of investor engagement since the publication of the Second Supplementary Prospectus. The deliberate and strategic decision taken by SMC’s shareholders reinforces their confidence in the IPO and their belief in the Company’s long-term value creation potential for both current and future shareholders.

The subscription period for Individual Subscribers will commence on Sunday, 15/06/2025G (corresponding to 19/12/1446H), and ends at 2:00 PM (KSA time) of Monday, 16/06/2025G (corresponding to 20/12/1446H).

Bassam Chahine, Chief Executive Officer of Specialized Medical Company (SMC), commented: “Reaching the top end of the price range is a clear vote of confidence in SMC’s performance, vision, and growth strategy. It marks a significant milestone in our journey from a single day-surgery center to one of Riyadh’s leading private healthcare providers. This IPO sets the stage for our next phase of expansion as we double our capacity, deepen our presence in high-growth areas like Northern Riyadh, and continue to redefine healthcare delivery in the Kingdom.”

HIGHLIGHTS OF THE OFFER

• The Company has appointed EFG Hermes KSA and SNB Capital Company (“SNB Capital”) as the joint financial advisors (hereinafter referred to as the "Financial Advisors"), bookrunners (the "Bookrunners"), and underwriters (the "Underwriters") and appointed SNB Capital as the lead manager (hereinafter referred to as the "Lead Manager") in respect to the Offering described herein.
• The Company has also appointed SNB Capital, SAB Invest, Al Rajhi Capital, BSF Capital, Alinma Investment, Riyad Capital, Al Jazira Capital, Alistithmar Capital, ANB Capital, Derayah Financial Company, Yaqeen Capital, Al Khabeer Capital, Albilad Capital, GIB Capital and Sahm Capital to act as receiving agents (collectively, the “Receiving Agents”) for retail investors.
• The Offering will consist of 75,000,000 ordinary shares (the “Offer Shares”), representing 30% of the Company’s total issued share capital.
• 100% of the Offer Shares have been initially allocated to the Participating Parties that took part in the institutional book building process. In the event that Individual Subscribers subscribe in full for the Offer Shares allocated thereto, the Financial Advisors shall have the right to reduce the number of Offer Shares allocated to Participating Parties to a minimum of sixty million (60,000,000) Offer Shares, representing 80% of the total Offer Shares, provided that such reduction shall not apply to the Cornerstone Investor and the final allocation to the Cornerstone Investor shall be five million eight hundred seventy-five thousand (5,875,000) shares of the Offer Shares (representing 2.35% of the Company’s share capital after the Offering) in all cases. Accordingly, fifty-four million one hundred and twenty-five thousand (54,125,000) shares of the Offer Shares will be allocated to the Participating Parties other than the Offer Shares allocated to the Cornerstone Investor and individual shareholders.
• The Company for Cooperative Insurance (Tawuniya) committed to subscribe, as Cornerstone Investor, for 5,875,000 shares of the Offer Shares (representing 2.35% of the Company’s share capital after the Offering). The Company for Cooperative Insurance (Tawuniya) is considered a major investor in the Saudi markets. The Company believes that the contribution of the Company for Cooperative Insurance (Tawuniya) will provide an essential drive for achieving growth and long-term strategic goals.
• The Offer Shares will be offered for subscription to individual and institutional investors, including institutional investors outside the United States in accordance with Regulation S under the US Securities Act of 1933G, as amended (“US Securities Act”). The Offering’s net proceeds will be distributed to the Selling Shareholders. The Company will not receive any part of the Offering Proceeds.
• The Offer Shares will be listed and traded on the Saudi Exchange’s Main Market following the completion of the Offering and listing formalities with both the Capital Market Authority (CMA) and the Saudi Exchange.

 

IPO TIMETABLE

Event	Date
Subscription period for Individual Subscribers	A period of two Business Days, commencing from Sunday, 19/12/1446H (corresponding to 15/06/2025G) and will end at 2:00PM KSA time on Monday 20/12/1446H (corresponding to 16/06/2025G).
Deadline for submission of the Participating Parties’ Subscription Application Forms based on the number of Offer Shares provisionally allocated to each of them	End of day Thursday 16/12/1446H (corresponding to 12/06/2025G).
Deadline for submission of Subscription Application Forms and payment of subscription monies by Individual Subscribers	Monday 20/12/1446H (corresponding to 16/06/2025G)
Deadline for payment of subscription monies by the Participating Parties based on the number of provisionally allocated Offer Shares	Monday 20/12/1446H (corresponding to 16/06/2025G)
Announcement of the Final Allocation of Offer Shares	No later than Tuesday 28/12/1446H (corresponding to 24/06/2025G)
Refund of excess subscription monies (if any)	No later than Tuesday 28/12/1446H (corresponding to 24/06/2025G)
Expected Date for Commencement of Trading of the Shares on the Exchange	Trading in the Company’s shares is expected to commence on the Exchange after the fulfillment of all requirements and following the completion of all relevant regulatory procedures. Commencement of share trading will be announced on the Tadawul website (www.tadawul.com.sa)