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December 29, 2022
RIYADH: Savola Group has announced gains of SR81 million ($21.6 million) from the sale of its stakes in Knowledge Economic City Co. and Knowledge Economic City Developers to Taiba Investments Co. Taiba Investments inked a binding agreement to acquire Savola’s entire ownership in KEC and KECD for SR459.26 million in August, and the shareholders of both companies granted their
September 21, 2022
RIYADH: Shares of Savola Group Co. increased 0.66 percent, after its shareholders approved selling all Savola’s shares in Knowledge Economic City Co. to Taiba Investments Co. for SR459 million ($122 million). Savola saw its shares increase to SR30.8 as of 10:06 a.m. Saudi time. Savola owns an 11.47 percent stake in KEC — direct ownership of 6.40 percent and indirect ownership
September 14, 2022
RIYADH: Taiba Investments Co. received its shareholders' approval to purchase all stakes owned by Savola Group in Knowledge Economic City Co. for SR459 million ($122 million). Savola owns an 11.47 percent stake in KEC — a direct ownership of 6.40 percent and an indirect ownership of 5.07 percent — through Knowledge Economic City Developers, according to a bourse filing. The
August 11, 2022
RIYADH: Savola Group has entered into an SR459-million ($122 million) agreement to sell its stake in Knowledge Economic City Co. and Knowledge Economic City Developers Co. Limited. This move came in light of Salove’s strategy of focusing on investing in its main operations in the food and retail sectors, while ending investments in non-core businesses, the group said in a
August 11, 2022
RIYADH: Saudi Arabia’s benchmark index started the week’s final session higher as investors digest another wave of corporate earnings results for the first half. TASI edged 0.39 percent higher at 12,479, while the parallel Nomu market added 0.15 percent at 22,261, as of 10:07 a.m. Saudi time. Astra Industrial Group climbed 4.39 percent to lead the gainers, after its first-half
August 11, 2022
RIYADH: Saudi stocks ended higher for a third straight day on Wednesday, thanks to strong earnings results from most listed companies. TASI, the main index, gained 0.8 percent to close at 12,431 and the parallel Nomu market edged 0.13 percent higher to 22,227. Most Gulf peers advanced in line with Saudi Arabia, led by a 0.8 percent gain for Abu Dhabi’s bourse. Dubai, Oman, and