Saudi Arabian Amiantit Co (2160)

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News

21 July 2024 10:26 AM Amiantit shifts to profits in H1-24

Riyadh – Mubasher: Saudi Arabian Amiantit Company turned to a net profit of SAR 479.62 million in the first half (H1) of 2024, versus a net loss of SAR 8.08 million in the same period a year earlier. Sales grew by 8.71% year-on-year (YoY) to SAR …

Financial Results

28 April 2024 10:09 AM Amiantit’s profits skyrocket 23,672% YoY in Q1-24

Riyadh – Mubasher: Saudi Arabian Amiantit Company posted SAR 474.50 million net profit in the first quarter (Q1) of 2024, a 23,672% year-on-year (YoY) surge from SAR 1.99 million. Revenues inched higher by 1.39% YoY to SAR 200.19 million in Q1-24 …

Financial Results

24 March 2024 00:12 PM Saudi Arabian Amiantit settles SAR 313m debt to SNB

Riyadh – Mubasher: Saudi Arabian Amiantit Company signed a settlement agreement with Saudi National Bank (SNB) for SAR 313 million facilities due to the bank at a 50% discount. Amiantit paid only SAR 156.5 million from the proceeds of the capital …

Banking and Finance

13 March 2024 10:54 AM Amiantit pens SAR 174m contracts for subsidiaries

Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed six contracts for its 100%-owned subsidiaries with several contractors at a total value of SAR 174 million. The contracts include supply and installation of pipes for several strategic …

Companies Investments

15 February 2024 04:58 PM Amiantit settles debt to SNB, Alinma Bank

Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed an agreement with Saudi National Bank (SNB) to settle a SAR 313 million debt. Under the agreement, Amiantit will pay only 50% of the debt, or SAR 156.5 million, by the cash inflows from …

Company News

14 September 2023 00:04 PM Amiantit, Al Sagr Cooperative mull capital hike via rights issue

Riyadh – Mubasher: Saudi Arabian Amiantit Company and Al Sagr Cooperative Insurance Company plan to increase their capital by offering rights issues, according to bourse disclosures. Amiantit aims to raise its capital by SAR 346.50 million in line …

Corporate Actions

4 December 2022 03:39 PM CMA greenlights Amiantit’s SAR 346.5m capital raise

Riyadh – Mubasher: The Capital Market Authority (CMA) has approved Saudi Arabian Amiantit Company’s request to increase its capital through a rights issue worth SAR 346.50 million. Subject to the shareholders’ approval and other regulatory …

Management Decisions

21 August 2022 09:37 AM Consortium including unit of SISCO, Amiantit awarded SAR 400m project

Riyadh – Mubasher: Saudi Industrial Services Company (SISCO) has announced a project awarding to a consortium in which one of its subsidiaries participates. The subsidiary is the International Water Distribution Company (Tawzea) and it is equally …

Management Decisions

28 February 2022 05:55 PM Amiantit’s EGM approves capital reduction to SAR 99m; trading on stock halted

Riyadh – Mubasher: The shareholders of Saudi Arabian Amiantit Company have agreed to reduce the capital by 69.06% to SAR 99 million from SAR 320 million. During their extraordinary general meeting (EGM) on 27 February, the shareholders approved …

Corporate Actions

28 February 2022 03:30 PM Amiantit’s Kordi submits resignation; new CEO appointed

Riyadh – Mubasher: The board of Saudi Arabian Amiantit Company accepted on 27 February the resignation of its CEO, Khalil bin Abdulfattah Kordi, due to personal reasons. Kordi’s resignation will be effective starting from 1 March, according to a …

Board of Directors

26 December 2021 10:02 AM SISCO's Tawzea obtains shareholder's approval for conversion, listing on Nomu

Riyadh – Mubasher: The shareholders of International Water Distribution Company (Tawzea), a subsidiary of Saudi Industrial Services Company (SISCO), have approved Tawzea's conversion from limited liability to a closed joint-stock company …

Companies Investments

23 November 2021 10:05 AM Amiantit's board proposes capital cut, subsequent capital raise through rights issue

Riyadh – Mubasher: The board of Saudi Arabian Amiantit Company has recommended a capital decrease of 69.06 % and a subsequent capital increase through the rights issue. The capital would decline to SAR 99 million from SAR 320 million by …

Board of Directors

18 November 2021 00:38 PM East Gas in process to list on Saudi market – Amiantit

Riyadh – Mubasher: East Gas Company, in which Saudi Arabian Amiantit Company owns 31% of capital, plans to list and trade shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul), Amiantit announced on Thursday upon a letter from East …

Trading Activities

1 November 2021 11:31 AM Amiantit appoints Kordi as CEO

Riyadh – Mubasher: Saudi Arabian Amiantit Company has appointed Khalil bin Abdulfattah Kordi as the CEO of the company starting from 1 November 2021. Amiantit has suspended the previous appointment of Osama Jasim Al Onaize as the Acting CEO, …

Corporate Actions

19 October 2021 00:20 PM Amiantit’s CEO submits resignation

Riyadh – Mubasher: Saudi Arabian Amiantit Company has accepted the resignation of its CEO, Solaiman Abdulaziz Al Twaijri, on 18 October. The resignation of Al Twaijri will be effective as of 1 November 2021 as his last working day will be 31 …

Corporate Actions

4 October 2021 11:38 AM Amiantit inks SAR 330m loan rescheduling agreement with SNB

Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed an agreement with the Saudi National Bank (SNB) to reschedule banking facilities worth SAR 330 million. The company will reschedule the facilities to improve and arrange its cashflow and …

Banking and Finance

27 September 2021 01:47 PM Consortium including SISCO’s unit, Amiantit inks deal for 3 plants

Riyadh – Mubasher: Saudi Industrial Services Company (SISCO) and Saudi Arabian Amiantit Company announced that the consortium including their associate International Water Distribution Company (Tawzea) signed a contract with the Saudi Water …

Companies Investments

30 June 2021 00:18 PM Amiantit inks agreement to reschedule banking facilities with Al Bilad Bank

Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed an agreement to reschedule Islamic banking facilities worth SAR 268 million with Bank Albilad. Rescheduling the Islamic banking facilities aims to improve and arrange the company's …

Banking and Finance

11 April 2021 00:57 PM Amiantit’s accumulated losses shrink to 23% of capital

Riyadh – Mubasher: Saudi Arabian Amiantit Company announced that its accumulated losses decreased to SAR 73.32 million, equivalent to 22.91% of capital. This followed Amiantit’s board decision on 28 March to partially offset the SAR 205.49 million …

Board of Directors

3 February 2021 09:55 AM Saudi Amiantit’s accumulated losses down to 27% of capital

Riyadh – Mubasher: The Saudi Arabian Amiantit Company on Wednesday said its accumulated losses have fallen to 27% of the capital. The company’s accumulated losses now stand at SAR 86.39 million, Saudi Amiantit said in a bourse disclosure. To …

Financial Results

10 January 2021 11:41 AM Saudi Amiantit settles loans worth SAR 107m with Saudi, Bahraini banks

Riyadh – Mubasher: The Saudi Arabian Amiantit Company announced the full settlement of its loans with Samba Financial Group, Bank Aljazira, Gulf International Bank, Al Baraka Islamic Bank (Bahrain), and Arab Banking Corporation (Bahrain). The …

Banking and Finance

7 January 2021 02:58 PM Nineteen Tadawul-listed firms raise capital by SAR 12.6bn in 2020

Riyadh – Mubasher: Nineteen Tadawul-listed companies have hiked their capital by SAR 12.57 billion during 2020, whereas eleven others lowered their capital meanwhile.   The capital hike processes were implemented by way of a rights issue, issuance …

Management Decisions

27 December 2020 09:56 AM Saudi Amiantit’s remaining rights issue shares 602.8% subscribed

Riyadh - Mubasher: The Saudi Arabian Amiantit Company on Sunday announced the results of the rump offering and the final allocation of the company’s rights issue shares, with a 602.8% coverage ratio. A total of 1.376 million shares have been sold …

Companies Investments

20 December 2020 09:25 AM Saudi Amiantit’s rights issue 88.53% subscribed

Riyadh - Mubasher: The Saudi Arabian Amiantit Company said a total of 10.623 million shares of the new offered shares have been subscribed at a value of SAR 106.2 million. The firm’s rights issue was subscribed by 88.53%, according to a bourse …

Companies Investments

2 December 2020 09:34 AM Saudi Amiantit’s EGM approves capital cut, increase

Riyadh - Mubasher: The Saudi Arabian Amiantit Company’s extraordinary general meeting (EGM) approved reducing the company’s capital from SAR 344.517 million to SAR 200 million and then raising it by 60% via a rights issue. Hence, the number of …

Management Decisions