PIF investments in stock market reach SR459bn

PIF investments in stock market reach SR459bn
Updated 14 September 2014

PIF investments in stock market reach SR459bn

PIF investments in stock market reach SR459bn

The market capitalization of shares owned and invested by the Pubic Investments Fund (PIF) in Saudi stock market grew by 26.5 percent to SR459 billion by the end of August (2014) compared to SR363 billion by the end of 2013, according to a financial report.
PIF’s shares in the Saudi stock market yielded profits of SR96.1 billion in the period mentioned above, the report carried by Al-Eqtisadiah daily, said.
According to the report, the PIF is considered the biggest holder of shares in the Saudi stock market where it owns nearly 20.3 percent of shares whose market capitalization is worth SR2.26 trillion by the end of August.
The major part of PIF’s investments in the Saudi stock market is invested in 11 sectors representing some 18 companies, the report said.
The petrochemical sector captured the lion’s share of profits achieved by PIF in the stock market at 47 percent valued at SR45.3 billion, followed by telecom sector at 32 percent at SR30.8 billion.
Saudi Basic Industrial Corporation (SABIC) and Saudi Telecom Company (STC) were the two major drivers of the PIF’s profits in the petrochemical and telecom sectors, respectively, in the past 8 months, the report said.
The banking sector was the third largest contributor to PIF’s profits in the stock market at 11 percent valued at SR10.9 billion, followed by the industrial investments at 5 percent (SR4.9 billion), transport at 1.4 percent (SR1.4 billion), and real estate development at 1.1 percent (SR1 billion), the report said.
Share of five sectors to the PIF’s profits was less than 1 percent for each as follows: Cement (SR901 million), agriculture (SR587 million), tourism and hotels (SR 131 million), construction (SR75.5 million), and energy (SR49 million).
At the company levels, SABIC and STC were the top contributors to the PIF’s profits at 47 percent (SR45.3 billion) and 32 percent (SR30.8 billion), respectively, followed by Riyad Bank at 5.9 percent (SR5.7 billion), Saudi Arabian Mining Company (Maaden) at 5.1 percent (SR4.7 billion), Samba Financial Group at 3.9 percent (SR3.7 billion), Alinma Bank at 1.6 percent (SR1.5 billion), the National Shipping Company of Saudi Arabia (Bahri) at 1.2 percent (SR1.1 billion), Saudi Real Estate (Aqaria) at 1.1 percent (SR1 billion). Share of the remaining 10 companies to the PIF’s profits was less than 1 percent (less than SR1 billion) for each, the report said.


NCB plans to issue dollar-denominated sukuk

NCB plans to issue dollar-denominated sukuk
Updated 17 January 2021

NCB plans to issue dollar-denominated sukuk

NCB plans to issue dollar-denominated sukuk
  • The number and value of any sukuk to be offered will be determined based on market conditions
  • Offering of the sukuk will be limited to qualified investors, the bank said

National Commercial Bank (NCB) announced the intention of NCB Tier 1 Sukuk Ltd., an exempted company with limited liability in the Cayman Islands, to issue US dollar-denominated additional Tier-1 sukuk, the bank said in a statement to Tadawul today, Jan. 17.

NCB mandated Citigroup Global Markets Ltd., Emirates NBD Capital, Goldman Sachs International, J.P. Morgan Securities, MUFG Securities (EMEA), NCB Capital and Standard Chartered Bank as joint lead managers and bookrunners for the potential offer.

The potential offer aims to enhance the bank's Tier-1 capital, and in addition it will be used for general corporate purposes.

The number and value of any sukuk to be offered will be determined based on market conditions, the statement said.

The potential offer will be subject to approvals from the relevant regulatory authorities and will be made in accordance with the applicable laws and regulations.

Offering of the sukuk will be limited to qualified investors, the bank said, adding that any material developments will be announced in due course.