ADES Holding Co. 2382 signed a binding sale and purchase agreement to acquire Saudi Arabian Saipem Limited for USD 285 million (SAR 1.07 billion), the company said in a Tadawul filing on June 24. The transaction was executed through ADES's indirect subsidiary ADES Saudi Limited and covers five jack-up rigs: Perro Negro 7, 8, 10, 11 and 13. ADES said the acquisition adds approximately SAR 3.8 billion to its backlog, with closing expected in the third quarter of 2026. The deal led a busy corporate week on the Saudi Exchange. Ladun Investment Co. 4084, in consortium with Al Ayuni Investment and Contracting Co., signed two contracts worth a combined SAR 2.39 billion with the Royal Commission for Riyadh City under Phase I of the Real Estate Balance Program. The Capital Market Authority approved Naseej International Trading Co.'s SAR 163.46 million rights issue. Two listed companies disclosed government project awards, while shareholders at Budget Saudi and NGDC signed off on 2025 cash dividends. The Tadawul All Share Index closed June 23 flat at 11,072 points on turnover of SAR 3.5 billion, according to Al Jazira Capital.
Ladun signs SAR 2.39B Riyadh development contracts
Ladun Investment Co., in consortium with Al Ayuni Investment and Contracting Co., signed two contracts worth a combined SAR 2.39 billion with the Royal Commission for Riyadh City, the company said in a Tadawul filing on June 23. The larger contract, valued at SAR 2.06 billion, covers the Al Qirawan and Al Narjis sites totaling 3.69 million square meters. A second contract worth SAR 326.7 million covers Namar lands spanning 569,933 square meters. Ladun said both contracts fall under Phase I of the Real Estate Balance Program. The filing did not disclose a schedule for completion or revenue recognition. Ladun and Al Ayuni are working under a consortium arrangement, per the disclosure.
CMA approves Naseej SAR 163.46M rights issue
The Capital Market Authority approved Naseej International Trading Co.'s request to increase capital through a rights offering valued at SAR 163.46 million, according to a CMA statement dated June 18. The regulator said eligibility will be limited to shareholders of record at Edaa at the end of the second trading day following the deciding extraordinary general meeting. The offer price and the number of new shares will be set after the EGM. CMA said the prospectus will be published ahead of the subscription period. Naseej has not yet announced the EGM date in its Tadawul disclosures.
TASI ends June 23 flat at 11,072 points
The Tadawul All Share Index closed at 11,072 points on June 23, down less than 0.1%, according to Al Jazira Capital's daily report. Value traded reached SAR 3.5 billion, up 24.2% day-on-day. The parallel Nomu index rose 0.1% to 23,227 points on turnover of SAR 16.2 million. Retailing and Utilities led sector gainers, while Healthcare and Software & Services led decliners, per the report. Separately, the Saudi Exchange announced on June 25 the delisting of Alkhabeer Growth and Income Traded Fund units, following a prior trading suspension. The CMA also granted Saaf Capital a license to conduct managing investments, operating funds, and advising activities.
Anmat, SMC Healthcare win government project awards
Anmat Technology for Trading Co. 9639 disclosed a project award from the Ministry of Defense valued at approximately SAR 36.98 million, according to a Tadawul filing on June 18. Anmat shares closed up 8.11% following the announcement. Specialized Medical Co. (SMC Healthcare, 4019) disclosed a project award from the Ministry of Health, which is acting as procurer and asset owner under the Project Agreement, per a separate Tadawul filing the same day. SMC Healthcare did not disclose a contract value in the initial announcement. Both companies said further details will be provided in subsequent filings as the projects progress.
Budget Saudi, NGDC approve 2025 dividends
United International Transportation Co. (Budget Saudi, 4260) shareholders approved a 7.5% cash dividend, or SAR 0.75 per share, for the second half of 2025 at the ordinary general meeting held June 18, per a Tadawul filing. The distribution covers 104.22 million entitled shares. The OGM also authorized the board to distribute interim dividends on a semi-annual or quarterly basis for 2026. National Gas and Industrialization Co. (NGDC, 2080) shareholders approved a 6% cash dividend for fiscal year 2025 at an OGM held June 23. Separately, Bawan Co. 1302 shareholders approved skipping the 2025 cash dividend distribution at its OGM on June 24. Al Battal Factory for Plastic Industries shareholders authorized the board to distribute 2026 interim dividends on a semi-annual or quarterly basis.
Outlook
Naseej International Trading is expected to set an EGM date and disclose its rights issue offer price and share count in coming sessions, per the CMA approval. ADES Holding flagged Q3 2026 as the expected closing window for the Saipem unit acquisition. Masar Destination Co. received regulatory approval enabling non-Saudi property ownership at its Makkah development, per a June 24 Tadawul filing on Nomu. Takween Advanced Industries Co. 1201 announced the cancellation of its previously planned SAR 650 million local sukuk program. Molan Steel Co. 9553 disclosed on June 25 that its accumulated losses have reached 99.21% of capital, with further regulatory steps to follow under CMA rules. Al Yamamah Steel Industries Co. 1304 updated the market on the subscription to the capital increase of its subsidiary Al Yamamah Co. for Reinforcing Steel Bars.
