Kingdom Holding’s 2014 net income up 17%

Updated 24 February 2015

Kingdom Holding’s 2014 net income up 17%

Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, announced the company’s financial results of operations for the year ended December 31.
The company consolidated net income for year ended December 31, 2014 is SR869 million compared to the net income of SR742 million for the same period in 2013, representing an increase of 17 percent.
Prince Alwaleed commented: “Our solid results reflect the sound performance of KHC in 2014.”
The overall recovery in the global economy was reflected in the continued improvement in the performance of KHC’s companies which include Four Seasons Hotels and Resorts, Fairmont Raffles Holding Intl and Movenpick Hotels and Resorts AG, NAS, real estate projects that include the Jeddah project that encompasses the highest tower in the world, and Kingdom Riyadh project.
In addition, hotel real estate investments such as The Plaza, New York, Savoy Hotel, London and Four Seasons, George V Hotel, Paris, in addition to Kingdom Schools and Medical Services Projects Company.


Aramco shares to make debut as biggest IPO gets bigger

Updated 11 December 2019

Aramco shares to make debut as biggest IPO gets bigger

  • Samba Capital, NCB Capital and HSBC Saudi Arabia issued a statement late Monday
  • Saudi subscribers were allocated 96.6 percent of the retail offering

LONDON : Saudi Aramco shares make their stock market debut on Wednesday as it emerged that the oil giant could raise even more from its already record-breaking share sale.

Aramco will exercise its 15 percent “greenshoe option” either in part or in whole during the first 30 days of its trading period, its lead managers said.

A greenshoe option is financial jargon for a clause that allows an underwriter the right to sell investors more shares than planned if demand proves higher than anticipated.

Samba Capital, NCB Capital and HSBC Saudi Arabia issued a statement late Monday confirming an earlier report on the Al Arabiya news channel citing an NCB Capital executive.

It means the share sale could generate as much $29.4 billion if exercised fully. The main IPO raised $25.6 billion on Thursday.

Samba Capital said that the IPO was hugely oversubscribed, attracting aggregate subscriptions of SR446 billion, representing coverage of 465 percent.

The listing and trading of the company’s shares on Tadawul starts just four working days after the end of the subscription phase, Samba noted.

The number of individual subscribers was 5.056 million, who bought SR49.2 billion worth of shares.

Saudi subscribers were allocated 96.6 percent of the retail offering with non-Saudis (expatriates and GCC nationals) getting 3.4 percent. 

For the institutional tranche, the final value of subscriptions totaled SR397 billion.

The Saudi Aramco IPO is a key part of the Kingdom’s plan to transform its economy by reducing its reliance on oil, developing its financial markets and attracting increased levels of foreign direct investment.

Saudi Finance Minister Mohammed Al-Jadaan said that the proceeds from Aramco’s IPO would be reinvested, helping to create more revenue channels for the government.

The Aramco IPO is expected to pave the way for more privatizations in the Kingdom.

“Privatization is at the top of the government’s priorities,” Al-Jadaan told reporters on Monday.

“We will continue to support big projects and will continue to support promising projects,” he said. “Enabling the private sector is the top priority of Vision 2030. We have more to come and our journey toward Vision 2030 demands