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Saudi retail major BinDawood's unit acquires majority stake in IATC for $29m

RIYADH: Future Tech Retail, a unit of BinDawood Holding, has acquired a 62-percent stake in e-commerce platform operator International Applications Trading Co. for SR108 million ($29 million). A fully owned subsidiary of Saudi retailer BinDawood, Future Tech signed the deal with Amwaj Real Estate Co. and First Commercial Application Co., to acquire the stake, a bourse filing ....

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Saudi retailer BinDawood to boost e-commerce through potential acquisition

RIYADH: A unit of Saudi retailer BinDawood has signed an initial agreement to acquire a 62 percent stake in e-commerce platform operator International Applications Trading Co. Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co., a bourse filing showed on Sunday. The potential acquisition ....

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Here's what you need to know before trading on Tadawul in the week ahead

RIYADH: Saudi Arabian stocks capped last week with gains, following a mixed performance throughout the week as cautious earnings optimism took over. TASI index surged 0.52 percent to end at 12,268 on Thursday. This came after it posted two straight days of losses and increased 0.73 percent on the week. The parallel market, Nomu, slipped by 0.45 percent to 25,217 points. ....

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