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CAPITAL MARKETS-
Savola Group has issued a prospectus (pdf) for a SAR 6 bn rights offering to boost its capital. The capital increase aims to strengthen the company’s financial position, fund its future investments by repaying loans, and distribute shares in Almarai to shareholders through a capital reduction post-rights offering. The funds from the rights offering will be allocated to pay down c. SAR 6 bn in long-term loans.
REAL ESTATE-
PIF-owned real estate developer Roshn has listed around 1.3k units for sale as part of the fourth phase of its flagship residential development in Riyadh Sedra, state news agency SPA reported. Roshn launched the fourth phase of Sedra in March, offering 1.3k units in the first batch. Sedra’s fourth phase is scheduled to feature a total of 4.9k units.
MANUFACTURING-
#1- Arabian Pipes was awarded a SAR 107 mn, 11-month contract to supply steel pipes to Aramco, according to a disclosure to Tadawul.
#2- Al Jouf Agricultural Development Company is set to double production capacity at its French fries factory with investments worth SAR 87 mn, a disclosure to Tadawul showed. The agricultural products producer will break ground on the project during this quarter and wrap it up in 3Q 2026, with commercial production slated for 4Q 2026.
AVIATION-
India’s budget airline Air India Express plans to launch a direct weekly flight between Kerala and Riyadh starting Monday, 9 September, according to a media report.
DEBT WATCH-
Fund manager Mefic Capital has lined up SAR 400 mn financing facility from Saudi Awwal Bank to pay off SAR 347.5 mn in outstanding debt owed by its Mefic REIT Fund, it said in a statement. The new facility has a seven-year tenure.
FINANCIAL SERVICES-
Al Rajhi Capital has received regulatory approval for the public offering of its Endowment Fund, according to a statement.
