LBCI

Saudi's Morabaha Marina aims to raise up to $83.4 million in IPO -statement

Middle East

14-05-2023 | 06:21

Share

Share

Saudi's Morabaha Marina aims to raise up to $83.4 million in IPO -statement

Saudi Arabia's Morabaha Marina Financing Company said on Sunday it is seeking to raise up to $83.4 million in an initial public offering on the Tadawul (.TASI) exchange to strengthen its capital base and support future growth.

The independent non-bank finance institution plans to sell a 30% stake, or 21.4 million shares, in a price range between 13 riyals ($3.47) and 14.6 riyals per share, implying a total offer size of 278.6 million riyals ($74.29 million) to 312.9 million riyals, it said in a statement.

The final offer price is expected to be announced on May 21 following an institutional bookbuilding process. The company did not disclose an expected trading date.

Net proceeds from the share sale will be used to strengthen the company's capital base to support future growth.

Morabaha Marina Financing Company offers Sharia-compliant financial services to individuals and small and medium sized enterprises in Saudi Arabia.

Reuters

Saudi Arabia

Morabaha Marina Financing

Company

Public Offering

Tadawul

Exchange

Growth

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

Ceasefire deal reshapes the balance: What Lebanon, Israel, and Hezbollah gained, and lost

News Bulletin Reports

2026-06-04

Ceasefire deal reshapes the balance: What Lebanon, Israel, and Hezbollah gained, and lost

Israeli army issues urgent warning to residents in Western Bekaa villages

2026-03-30

Israeli army issues urgent warning to residents in Western Bekaa villages

Kuwait demands two Iran embassy staff leave after deadly attack

Middle East News

2026-06-03

Kuwait demands two Iran embassy staff leave after deadly attack

Wanted for war crimes: Why was retired Syrian Gen. Adel Issa detained in Beirut?

News Bulletin Reports

13:19

Wanted for war crimes: Why was retired Syrian Gen. Adel Issa detained in Beirut?

Videos

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

2026-08-06

Lebanon-Israel talks: delegations arrive at US Embassy in Rome — Video

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

2026-07-24

Residents begin returning to Zawtar el-Gharbiyeh, southern Lebanon: Video

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

2026-07-20

Slotkin to LBCI: Lebanese army needs resources to confront Hezbollah, $36 million request submitted for special forces

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

Massive Israeli strikes hit South Lebanon under ceasefire conditions

2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Most read

24 hours

7 days

Month

LBCI sources: Lebanon to hand former Syrian General Adel Issa to Syrian judiciary

1

LBCI sources: Lebanon to hand former Syrian General Adel Issa to Syrian judiciary

Rain in August? Sudden weather shift surprises Lebanon: Video

2

Rain in August? Sudden weather shift surprises Lebanon: Video

Walla: Israeli military strikes Ali al-Taher heights in southern Lebanon

3

Walla: Israeli military strikes Ali al-Taher heights in southern Lebanon

Wanted for war crimes: Why was retired Syrian Gen. Adel Issa detained in Beirut?

4

Wanted for war crimes: Why was retired Syrian Gen. Adel Issa detained in Beirut?

Diplomacy vs. escalation: Southern Lebanon enters a critical new phase

5

Diplomacy vs. escalation: Southern Lebanon enters a critical new phase

Human Rights Watch urges UN to maintain peacekeeping force in South Lebanon

6

Human Rights Watch urges UN to maintain peacekeeping force in South Lebanon

Waste crisis or new tax? Lebanon’s environmental fee raises questions

7

Waste crisis or new tax? Lebanon’s environmental fee raises questions

Etna eruption extends closure of Sicily's Catania airport until Saturday

8

Etna eruption extends closure of Sicily's Catania airport until Saturday

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More