Market Archive – GCMA

• Saudi media giant MBC Group sets price range for IPO 30/11/2023
  Saudi Arabian media giant MBC Group, which received regulator approval to float 10% of its share capital on the Saudi Tadawul exchange, has set the indicative price range for the...
• Saudi Arabia to spearhead green development vision with forum during COP28 30/11/2023
  Saudi Arabia is committing itself to a sustainable and green future through a variety of initiatives, with one of the most high-profile set to be held at the upcoming climate...
• Energy transition targets to drive ESG sukuk growth in UAE 29/11/2023
  ESG sukuk in the UAE has been on a growth path and will continue to expand amid funding requirements to meet energy transition goals, according to a new analysis.
• Fitch Affirms Bank Muscat at ‘BB+’; Stable Outlook 29/11/2023
  Fitch Ratings has affirmed Bank Muscat SAOG’s (BM) Long-Term Issuer Default Rating (IDR) at ‘BB+’ with a Stable Outlook. Fitch has also affirmed the bank’s Viability Rating (VR) at ‘bb+’.
• Dubai Taxi Company valued at $1.26bn in oversubscribed offering 29/11/2023
  Dubai Taxi Company said it raised Dh1.2 billion (approximately $315 million) in the initial public offering after pricing it at the top of the range.
• Banks, corporates drive ESG Sukuk in the UAE as COP28 draws near 28/11/2023
  There is a visible push for ESG sukuk in the UAE as COP28 approaches, says Fitch Ratings in a new dashboard. Fitch expects outstanding ESG sukuk in the UAE to...
• Single stock options officially launched on Saudi Exchange 27/11/2023
  Saudi Exchange has officially launched single stock options, the newest offering in its derivatives market, with trading begining on the morning of Nov. 27.
• Dude, where’s my greenium? 24/11/2023
  Two sovereign issuers recently complained that the pricing advantage of doing a green bond rather that a conventional one – the fabled greenium – was not enough to justify the...
• First Abu Dhabi Bank lists dirham-dominated green sukuk 23/11/2023
  The Abu Dhabi Securities Exchange (ADX) launched on Wednesday the listing of First Abu Dhabi Bank’s (FAB) AED1.3 billion ($353 million) green sukuk, which is expected to contribute to the...
• South Africa govt issues $1.1bln domestic sukuk 23/11/2023
  The issuance was split into four tranches maturing between March 2029 and March 2036 and with profit rates of between 9.87% and 11.9%.