China’s Ministry of Finance lists two bonds worth combined $2bn on Nasdaq Dubai
Equities
Almoosa Health
Saudi hospital operator Almoosa Health to launch IPO before year-end
The issue, when launched, could be one of the largest listings in the country this year
India
Lulu Retail revenue reaches $1.86 billion in first post-IPO result
Revenue up 6.1% for Q3 2024 and 5.7% YoY for 9M 2024; Q3 EBITDA increases 9.9% to $176.3 million; Group opens 12 new stores in 9M 2024
Delivery Hero
Delivery Hero’s Talabat IPO set to raise $1.5bn ahead of Dubai listing
Talabat’s IPO is expected to be one of the biggest in the UAE this year
insurance
Growth strategy paying off as Takaful Emarat turns the corner
Company posts a net profit of $2.18 million for Q3 2024, compared to a loss of $231,450 in the same period last year
Abu Dhabi
Tabreed’s district cooling consumption grows 6% for 9M 2024
Revenue increases to $500 million; Normalised net profit before tax increases by 4% to $125.8 million; Debt reduced by 12%
Abu Dhabi National Energy Company
TAQA Group reports 6% growth in revenue to $11.35 billion
Strong showing by Water Solutions and Transmission & Distribution as net income surges to $1.72 billion), up 13.2%
Abu Dhabi Securities Exchange
Lulu Retail Holding appoints BHM Capital as liquidity provider on ADX
This provides greater price stability and ensures adequate trading volumes at any given price level
Abu Dhabi
AD Ports turn free cash flow positive after record revenue and profit
Revenue reaches $1.27 billion, up 10% YoY and profit up 11% to $121.37; Strong operational performance across the board with Logistics up 48%
Dubai
Landmark Group IPO: ‘We do not have plans yet’, says Chairwoman Renuka Jagtiani
Landmark Group executives confirm no immediate IPO plans as the retail giant marks its 50th anniversary, citing financial stability and strong organic cash flows
construction business
Drake and Scull’s financial restructuring paying off
The company achieves a net profit grows to $1.61 million in Q3 2024; Revenue up 13% to $5.85 million
ADNOC Gas
ADNOC Gas targets over 40% EBITDA growth over next five years
Company declares fourth straight quarter of $6 billion-plus revenues; Quarterly net income up 11% to $1.24 billion
Abu Dhabi
Fertiglobe sees plenty of upside following ADNOC’s acquisition of OCI stake
For Q3 2024, revenues at $496 million, adjusted EBITDA at $176 million, while 9M 2024 revenues touch $1.5 billion
Human Resources
Saudi HR solutions firm Tamkeen sets $13.3 as final offer price for IPO
The total size of the company IPO stood at $105.7 million
Delivery Hero
Talabat set to deliver 15% of its stake to the public on DFM
UAE delivery platform has been the star performer of parent company Delivery Hero; Subscription period to open on 19 November
satellite
Space42 EBITDA and net income grows despite revenue decline
Company reports 9-month pro forma results following the completion of merger between Bayanat and Yahsat in October
International Holding Company
IHC revenue grow 49.4% $17.43 billion; PAT surges to $4.9bn
Real estate and construction segment outperform as company’s total assets reach $104.3 billion