The Saudi Investment Bank 1030 said in a Tadawul filing it agreed to sell its 50% stake in American Express Saudi Arabia to Amex Middle East for SAR 1.43 billion ($381 million) in cash. The bank said the stake carried a book value of SAR 638 million as of November 30, 2025, implying a gain of SAR 792 million on the transaction. SAIB said the sale will strengthen its financial position. Separately, the Capital Market Authority approved SAIB's request to raise capital from SAR 12.5 billion to SAR 15 billion through a 1-for-5 bonus share issuance, lifting outstanding shares to 1.5 billion. The increase will be funded by SAR 1.5 billion from statutory reserves and SAR 1 billion from retained earnings, with the EGM to be held within six months. TASI closed the session on 2026-09-03 at 11,032.91 points, up 20.73 points or 0.19%, with a session high of 11,075.49 and a session low of 11,005.23. Year-to-date performance stood at +5.17%, according to Saudi Exchange data.
Kingdom Holding completes SAR 840M Al-Hilal Club acquisition
Kingdom Holding Company 4280 said it completed the acquisition of a 70% stake in Al-Hilal Club Company from the Public Investment Fund for SAR 840 million ($224 million), according to a Tadawul disclosure. The transaction values the club's equity at SAR 1.2 billion and its enterprise value at approximately SAR 1.4 billion. PIF retains the remaining 30% stake in the club. The closing follows the transaction framework previously disclosed to the market and completes the transfer of majority ownership to the listed holding company. Kingdom Holding did not disclose additional financing terms in its filing.
ANB prices $750M perpetual sukuk at 6.5%
Arab National Bank 1080 said in a Tadawul disclosure it completed a $750 million dollar-denominated additional Tier 1 perpetual sukuk priced at 6.5%. The sukuk is callable after five years and was issued through a special purpose vehicle. The issuance was listed on the London Stock Exchange's International Securities Market and comprises 3,750 certificates with a par value of $200,000 each. ANB is the latest Saudi bank to tap the international AT1 market, using the proceeds to reinforce its regulatory capital base under Basel III rules. The bank did not disclose subscription levels in its filing.
Axelerated Solutions to establish SAR 675M data center fund
Axelerated Solutions 9637, listed on Nomu, announced plans to establish the BIM Capital DC-Infrastructure Fund with a target size of SAR 675 million ($179 million). The Sharia-compliant fund will develop, own and operate two Tier-III AI-ready data centers, each starting at 10 MW and expandable to 20 MW, according to the company. The launch is subject to CMA approval. Separately, Axelerated Solutions said in a Tadawul disclosure it renewed an Islamic Sharia-compliant banking facilities agreement with Banque Saudi Fransi. The company did not disclose facility size or tenor in its filing.
stc group launches colab venture-building arm at LEAP 2026
stc group 7010 announced at LEAP 2026 the launch of colab, its innovation and corporate venture-building arm. The unit complements the group's existing InspireU accelerator and tali ventures investment arm within its innovation ecosystem, according to the company. stc said the move builds on its earlier venture-building of stc pay into STC Bank, which serves more than 8 million customers and generated over SAR 1 billion in revenue in 2025. The group did not disclose a capital commitment or specific portfolio targets for colab in its announcement.
Perfect Presentation wins SAR 73.7M Jeddah Municipality project
Perfect Presentation for Commercial Services 7204 disclosed a project award from Jeddah Municipality valued at SAR 73,729,792.51 including VAT, according to a Tadawul filing. The company did not disclose the project's duration or scope in its initial disclosure. Elsewhere in the contract flow this week, Alwasail Industrial Company 2360 signed an SAR 11.6 million contract to supply materials and pipes, while a subsidiary of Saudi Arabian Amiantit Company 2160 signed an SAR 2.5 million contract to build villas in Riyadh, both per Tadawul disclosures. On Nomu, Sure Global Tech signed a three-year MoU with Etihad Salam Telecom, and Dar Almarkabah signed an MoU to acquire 100% of Zad International.
Outlook
Naseej International Trading Co. 2240 is proceeding with a capital increase via rights issuance following its August 26 EGM approval, with fluctuation limits reset at a share price of SAR 16.24. Etihad Atheeb Telecommunications (GO Telecom, 7040) approved a 3.5% cash dividend for FY2025/26, with distribution scheduling to follow. Nomu-listed Al-Modawat Specialized Medical Company approved a 6% cash dividend for H1 2026, to be distributed in three payments. SAIB shareholders will convene within six months to vote on the 1-for-5 bonus share capital increase to SAR 15 billion approved by CMA. Investors will also watch for further H1 2026 interim results from Nomu issuers following Balsm Alofoq Medical Co. 9620, which disclosed its results for the six-month period ended June 30, 2026.
