萝莉视频

萝莉视频 boosts health infrastructure with 5 new hospitals, increased budget聽

萝莉视频 has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents.聽File
萝莉视频 has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents.聽File
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Updated 02 December 2024

萝莉视频 boosts health infrastructure with 5 new hospitals, increased budget聽

萝莉视频 boosts health infrastructure with 5 new hospitals, increased budget聽

RIYADH: 萝莉视频 is set to open five new hospitals by 2025, adding 963 beds across key provinces as part of a broader SR260 billion ($69.3 billion) budget allocation to the health and social development sector.聽

This allocation, which represents the second-largest share of government spending, covers a wide range of initiatives, including increasing bed capacity to 23 beds per 10,000 residents in the targeted provinces, as outlined in the Ministry of Finance鈥檚 budget report.

The new facilities, located in Rijal Almaa, Dhahran Al-Janoub, Hail, Makkah, and Riyadh, include a dedicated mental health hospital in the capital. These projects aim to enhance access to care and improve healthcare infrastructure across the Kingdom.聽聽

Other initiatives for 2025 include emergency services, early detection programs, cancer care, and expanded dialysis services, highlighting a comprehensive approach to healthcare that emphasizes prevention, early intervention, and state-of-the-art infrastructure.聽

In addition to healthcare, these funds will also support the management of human resources and social services, including social security and welfare.聽

They will also extend to the cultural, media, sports, and entertainment sectors, as well as the implementation of the Quality of Life Program. This underscores 萝莉视频鈥檚 holistic approach, recognizing the interconnectedness of health and social development.聽聽

Healthcare advancements聽

萝莉视频 has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents.聽

Over the past decade, the Kingdom has invested heavily in modernizing healthcare infrastructure, expanding medical services, and improving access to quality care nationwide.聽聽

With initiatives like Vision 2030, which outline ambitious goals to diversify the economy and enhance public services, the health sector has become a key area of focus.聽

The government has prioritized expanding health coverage, upgrading hospitals and clinics, and implementing advanced technologies such as electronic health records and telemedicine services.聽

Additionally, 萝莉视频 places strong emphasis on preventive healthcare, early diagnosis, and specialized treatment programs, all aimed at reducing the disease burden and improving the quality of life.聽

Key investments聽

The ministry鈥檚 report indicated that the new hospitals will be outfitted with state-of-the-art medical equipment, and skilled healthcare professionals will be employed to address the health needs of the population and enhance the quality of care.聽聽

To bolster emergency medical services, 萝莉视频 plans to deploy 568 vehicles, including ambulances, electric vehicles, and amphibious units.聽聽

These vehicles will play a crucial role in transporting the injured and medical supplies, enhancing the overall responsiveness of healthcare services, especially in remote areas and during emergencies. This extensive fleet will ensure timely medical attention and improve access to healthcare across all regions, regardless of geographic challenges.聽

Health innovations聽

The health sector will also prioritize early screening for newborns and young children in 2025, aiming to reduce disability and enhance overall quality of life.聽

This includes the implementation of newborn screening programs to detect hearing impairments and genetic disorders.聽

A comprehensive database will be created, linking both public and private sectors to ensure early diagnosis and intervention.聽

Additionally, preschool hearing screenings will be integrated with the Noor system to improve educational outcomes for children, further supporting the early identification of health issues that could impact development.聽

In an effort to reduce the incidence of cervical cancer, the Kingdom will increase HPV vaccination coverage for girls, targeting a 90 percent vaccination rate.聽聽

The program will provide vaccines for girls in their first year of intermediate school and offer early detection services for women aged 30 and older. Positive cases will be referred to early screening programs for cervical cancer, aiming to prevent the spread of HPV and improve overall public health by detecting and addressing the virus early.聽

The Kingdom is also expanding its cancer care services by implementing a modern care model across three new oncology centers.聽

This includes expanding early cancer detection capabilities and providing state-of-the-art diagnostic equipment to improve the accuracy and speed of diagnoses.聽聽

Similarly, dialysis services at Huraymila and Jazan General Hospitals will undergo significant expansion, with a 200 percent increase in capacity at each facility. These centers will receive substantial funding 鈥 SR10 million for Huraymila and SR30 million for Jazan 鈥 to ensure advanced care and accommodate more patients in need of dialysis.聽

In parallel with these service expansions, the Kingdom is enhancing its medical evacuation capabilities by developing and activating medical evacuation centers, command and control hubs, and advanced ambulance services across the country.聽

Notably, the National Health Emergency Operations Center has earned recognition from the World Health Organization for its efficiency and preparedness, positioning 萝莉视频 as a leader in healthcare crisis management and emergency response.聽

Healthcare achievements聽

The Ministry of Finance budget report highlighted the issuance of 113 million electronic prescriptions through the Wasfaty service, resulting in SR1.3 billion in savings and reducing costs by SR2.4 billion.聽

The Wasfaty service is an electronic prescription platform introduced by the Saudi Ministry of Health. It allows doctors to prescribe medications electronically, replacing traditional paper prescriptions.聽

This service is part of 萝莉视频鈥檚 broader efforts to digitize healthcare services and improve efficiency. Through this platform, prescriptions can be directly sent to pharmacies, streamlining the process for both patients and healthcare providers. It also enhances medication tracking, reduces prescription errors, and helps manage healthcare costs more effectively.聽

Emergency services have seen a 20 percent improvement in response time, enhancing life-saving efforts with more efficient ambulance and air transport services.聽

Health coverage has expanded, with 12.5 million beneficiaries and a reduction in patient transfers outside local areas.聽

Operational efficiency has been boosted, leading to a 27 percent increase in scheduled surgeries and a 91 percent improvement in emergency service access within four hours.聽聽

The localization of specialized tests has grown by 13.1 percent, reducing reliance on external laboratories and cutting long-term costs.聽

Dental services have also flourished, with a 137 percent increase in clinic capacity, a 200 percent rise in appointments, and a 250 percent growth in primary healthcare services.聽聽

Additionally, the provision of advanced ambulances has improved services for challenging terrains and mass casualty incidents. The sector has also achieved 17 international accreditations, raising the health compliance rate to 84 percent across 252 facilities, solidifying its commitment to global standards.聽

Digital advancements聽

Investment in digital healthcare systems is proving beneficial in improving performance and health outcomes, as highlighted by the Organization for Economic Cooperation and Development.聽

According to the World Economic Forum, 萝莉视频 allocated over $50 billion in 2023 to initiatives, including digital health services aimed at improving efficiency and accessibility.聽聽

McKinsey predicts that the widespread adoption of digital solutions could bring an additional $15 billion to $27 billion in economic benefits by 2030.聽

萝莉视频鈥檚 partnership with Orion Health to create the world鈥檚 largest health information exchange, connecting 5,000 institutions and 32 million people, is one example of such efforts.聽

Artificial Intelligence, especially generative AI, is expected to play a significant role in improving patient care and healthcare efficiency, with the potential to contribute $320 billion to the Middle East鈥檚 economy by 2030, according to the WEF.聽聽

Robots are also being explored for improving precision, workplace safety, and elderly care. 萝莉视频, for instance, saw a 52 percent increase in robotics company registrations between 2022 and 2023.聽

As 萝莉视频 continues to focus on digital health, AI advancements, and comprehensive care models, its efforts are poised to transform the sector, improve health outcomes, and support the well-being of its growing population.聽聽


How KSA is blending compliance and innovation to build a global startup hub聽

How KSA is blending compliance and innovation to build a global startup hub聽
Updated 15 August 2025

How KSA is blending compliance and innovation to build a global startup hub聽

How KSA is blending compliance and innovation to build a global startup hub聽

RIYADH: 萝莉视频 is advancing an ambitious strategy to position itself as a global hub for technology startups, striking a balance between regulatory reform and an unprecedented wave of innovation.   

As the Kingdom races to diversify its economy and reduce dependence on oil, entrepreneurs and legal experts say the country is reaching a pivotal moment in its efforts to create a business environment that is both competitive and predictable. 

Feras Mousilli, managing partner at Lloyd & Mousilli, described the pace of change as remarkable.   

Feras Mousilli, managing partner at Lloyd & Mousilli. Supplied

鈥淭he regulatory landscape in 萝莉视频 is evolving at an impressive pace and the government鈥檚 proposed regulations show a clear intent to support its Vision 2030 goals: reduce barriers, increase clarity, and compete globally for tech innovation,鈥 he told Arab News in an interview.   

Yet as new frameworks take hold, founders continue to grapple with the friction that arises when rapid innovation meets complex compliance requirements. 

In recent years, the Saudi Central Bank and the Capital Market Authority have emerged as key architects of this transformation.

Through sandbox environments and tiered licensing, regulators have created mechanisms for startups to test their ideas with fewer constraints.   

Among the most consequential reforms is the introduction of open banking frameworks, which mandate financial institutions to share Application Programming Interfaces with third-party fintech firms, opening the door to greater competition and inclusion. 

APIs are a set of rules and protocols that allow different software systems to communicate and exchange data. 

For founders such as Hisham Al-Falih, the shift has been both sweeping and hard-won.   

Al-Falih, founder of Lean Technologies. Supplied

鈥淚鈥檇 say that the things that have kind of maybe changed the most this year are the introduction of new regulations,鈥 said Al-Falih, founder of Lean Technologies, in an interview with Arab News. 

鈥淚n 萝莉视频, the central bank has been continuing its mission and its plan of rolling out open banking,鈥 he added. 

鈥淭his is obviously a multiyear effort, and it鈥檚 culminating now with the introduction of the PIS, the Payments Initiation Service, which is expected to go live soon,鈥 Al-Falih said. 

He recalled that when Lean Technologies launched in 2019, few policymakers had a roadmap for modern fintech.   

鈥淣one of these regulatory kind of bodies really adopted open banking and had plans for it,鈥 he said.   

鈥淎nd so there鈥檝e been years of discussions and conversations and back and forth with a variety of industry bodies to get to where we鈥檙e getting to today.鈥 He added that Lean has worked closely with regulators to help shape the emerging framework. 

Beyond fintech, the Kingdom has implemented comprehensive reforms to the legal framework governing all businesses.   

In February, the government passed a new Investment Law establishing a unified framework for foreign and domestic investors, with enhanced protections and simplified procedures.   

At the same time, a revised Companies Law introduced the Simple Joint Stock Co., designed to make it easier to incorporate and operate a startup. 

Companies were required to update their Articles of Association by Jan. 18, marking a nationwide effort to align corporate governance with international norms. 

These changes coincide with record-breaking momentum in the broader startup ecosystem. 

In 2025, 萝莉视频 was recognized as the fastest-growing startup environment in the world, according to the Global Startup Ecosystem Index, which reported Riyadh had climbed 60 places to rank 23rd globally.   

Venture funding has accelerated sharply, achieving a 49 percent compound annual growth rate from 2020 through 2024, with artificial intelligence startups emerging as a priority.   

Riyadh鈥檚 growth was catalyzed by a policy-driven approach that prioritized both scale and specialization.   

According to the 2025 Global Startup Ecosystem Report by Startup Genome, more than 200 fintech companies now operate in the Kingdom, supported by the Saudi Central Bank鈥檚 regulatory sandbox and Fintech Saudi鈥檚 market-building efforts.   

The report highlighted startups such as Lean Technologies, Rasan, and Tamara as examples of companies attracting substantial regional and international capital, with major financial institutions serving as early adopters and anchor clients. 

In addition to fintech, the report praised the Kingdom鈥檚 progress in cybersecurity, noting that Riyadh-based firms like Mozn and sirar by stc are developing artificial intelligence-powered solutions for identity verification, fraud detection, and compliance. 

萝莉视频 has emerged as the leading hub for venture capital activity in the Middle East and North Africa, raising $860 million in the first half of the year 鈥 a 116 percent year-on-year increase 鈥 supported by sovereign initiatives and rising foreign investor interest.  

According to regional venture platform MAGNiTT, the Kingdom recorded 114 VC deals during the period, representing a 31 percent increase from the same time in 2024, and continuing its momentum from the previous year, when it secured the largest volume of funding in the region for the second consecutive year.  

This surge in venture activity is further underpinned by structural reforms and policy incentives.  

As of mid-2025, 萝莉视频鈥檚 Ministry of Investment had issued 550 Startup Investment Registrations, known as Riyadi licenses, reflecting a 118 percent annual growth.   

While 萝莉视频鈥檚 ambition to become a digital-first economy is undisputed, Mousilli cautioned that rapid change can overwhelm young companies.   

鈥淭he challenge comes when compliance is so burdensome or complex that it diverts resources away from core growth,鈥 he said.   

鈥淔or example, in fintech, a startup may spend months navigating licensing or anti-money laundering requirements 鈥 before they鈥檝e even validated their product-market fit.鈥   

As a result, he noted, some founders default to 鈥渨e鈥檒l deal with it later,鈥 exposing themselves to legal risk. 

The Kingdom has signaled that it wants to avoid this trap. Regulators are increasingly adopting risk-based supervision models that calibrate oversight according to the size and systemic impact of each company.   

鈥淭he most effective regulators understand that a small startup doesn鈥檛 need the same oversight as a multinational bank,鈥 Mousilli said. 鈥溌芾蚴悠 is beginning to adopt this risk-based approach, which is a positive sign.鈥 

To complement the regulatory overhaul, the government has introduced new compliance mandates around ultimate beneficial ownership disclosures, enhanced anti-money laundering protocols, and environmental, social, and governance reporting, reinforcing transparency and investor confidence.   

The Digital Government Authority reported that digital transformation readiness exceeded 74 percent in 2025, underscoring a push to digitize public services and reduce administrative delays. 

For founders, this shift is not merely regulatory 鈥 it is cultural. Al-Falih said that collaborative policymaking has become a defining characteristic of the Saudi tech sector.   

鈥淲e鈥檝e been working closely with the Central Bank and the associated parties in the ecosystem to provide our feedback, our notes on how their framework is being written, and to obviously engage with them in a productive way,鈥 he said. 

In the view of many entrepreneurs, these conditions are creating fertile ground for growth. 鈥淚 would argue that the region has some of the best regulations and infrastructure set up,鈥 Al-Falih said. 鈥淎nd so we will be one of the more successful parts of the world to introduce these technologies.鈥 

Still, legal experts caution that unresolved issues 鈥 such as the enforcement of intellectual property rights, clarity in employment law, and the efficiency of dispute resolution 鈥 remain on investors鈥 radar.   

Mousilli observed that, despite the progress, 萝莉视频 will need to maintain its momentum to consolidate its gains. 鈥淭he frameworks are improving, but clarity and consistency, especially in implementation, remain key areas to watch and develop,鈥 he said. 

Yet for those building the next generation of technology companies, the convergence of regulatory ambition and economic transformation is unmistakable.   

As Al-Falih put it: 鈥淭his is one of the best times to be alive and one of the best times to be a member of the tech community in the GCC.鈥 


Global Markets 鈥 Asia markets recover after hot US price data

Global Markets 鈥 Asia markets recover after hot US price data
Updated 15 August 2025

Global Markets 鈥 Asia markets recover after hot US price data

Global Markets 鈥 Asia markets recover after hot US price data

SINGAPORE: Stocks in Asia made an uneven recovery as traders assessed the policy options facing the world鈥檚 central banks, after an unexpected spike in producer price data in the US renewed inflation concerns.

MSCI鈥檚 broadest index of Asia-Pacific shares outside Japan was down 0.2 percent after a report on Thursday from the Bureau of Labor Statistics which showed the Producer Price Index increased 0.9 percent in July on a month-on-month basis, well above economists鈥 expectations.

The report prompted traders to rein in expectations of how quickly the Federal Reserve would be able to cut rates at its September meeting without stoking further inflation.

鈥淲hat it did was to get rid of all the chat about a 50 basis point cut,鈥 said Mike Houlahan, director at Electus Financial Ltd in Auckland.

The market is currently pricing in a 92.1 percent probability of a 25 basis point rate cut at its meeting next month, compared with a 100 percent likelihood of a cut on Thursday, according to the CME Group鈥檚 FedWatch tool. The chance of a jumbo 50 basis point cut fell to zero from an earlier expectation of 5.7 percent a day ago.

US stock futures were up 0.2 percent in Asian trading and on track for a fourth day of gains after a choppy trading session on Wall Street on Thursday. The yield on the US 10-year Treasury bond was down 2 basis points at 4.2732 percent.

The two-year yield, which is sensitive to traders鈥 expectations of Fed fund rates, slipped to 3.7233 percent compared with a US close of 3.739 percent.

The dollar index, which tracks the greenback against a basket of currencies of other major trading partners, retraced some gains after the PPI data release, last trading down 0.2 percent at 98.026.

The Nikkei rebounded 1.6 percent to near a new record high, following a sell-off on Thursday that marked the index鈥檚 biggest decline since April 11 and snapped a six-day winning streak. Japanese GDP data released on Friday showed the economy expanding by an annualised 1.0 percent in the April-June quarter, beating analyst estimates. The dollar weakened 0.5 percent against the yen to 147.09.

Australian shares were last up 0.7 percent, while stocks in Hong Kong were down 1.1 percent.

The CSI 300 rose 0.8 percent after the release of weaker-than-expected Chinese economic data for July, including retail sales and industrial production, stoked speculation of fresh stimulus. Markets in India and South Korea are closed for public holidays.

Cryptocurrency markets stabilised after a new record for bitcoin of $124,480.82 on Thursday proved fragile and promptly crumbled after falling short of its next key milestone. The digital currency was last up 0.8 percent, recovering some ground, while ether gained 1.7 percent.

鈥淏itcoin's failure to conquer the $125,000 resistance signals another consolidation phase,鈥 said Tony Sycamore, a market analyst at IG in Sydney.

In commodities markets, Brent crude was down 0.3 percent at $66.63 per barrel ahead of a meeting in Alaska between US President Donald Trump and Russian leader Vladimir Putin.

鈥淭he first meeting doesn鈥檛 seem like a major market-moving event - it鈥檚 more to set up a second meeting, which will likely be more important,鈥 said Marc Velan, head of investments at Lucerne Asset Management in Singapore. 鈥淚f a ceasefire is reached, expect a positive reaction in the euro and a weaker dollar; the opposite if a ceasefire fails.鈥

Gold was slightly lower as the markets digested the path of inflation-adjusted interest rates, which typically move in the opposite direction from bullion prices. Spot gold was trading up 0.3 percent at $3,343.94 per ounce. 

In early European trades, the pan-region futures were up 0.5 percent, German DAX futures were up 0.5 percent, and FTSE futures gained 0.5 percent.


Aramco inks $11bn Jafurah gas deal with BlackRock-led consortium

Aramco inks $11bn Jafurah gas deal with BlackRock-led consortium
Updated 15 August 2025

Aramco inks $11bn Jafurah gas deal with BlackRock-led consortium

Aramco inks $11bn Jafurah gas deal with BlackRock-led consortium

RIYADH: Saudi Aramco signed an $11 billion lease-and-leaseback agreement with a consortium led by Global Infrastructure Partners, part of BlackRock, for midstream assets tied to its Jafurah gas development.

Under the deal, the newly formed Jafurah Midstream Gas Co. will lease development and usage rights for the Jafurah Field Gas Plant and Riyas NGL Fractionation Facility, then lease them back to Aramco for 20 years, according to a press release. 

The company will collect a tariff from Aramco, which retains exclusive rights to receive, process and treat raw gas from the field.

The transaction secures one of the largest foreign direct investments in the Kingdom鈥檚 energy sector and builds upon the strong existing relationship between Aramco and BlackRock. In 2022, BlackRock co-led a consortium of investors in a separate minority investment in Aramco Gas Pipelines Co.

In a press statement, Amin H. Nasser, Aramco president and CEO, said: 鈥淛afurah is a cornerstone of our ambitious gas expansion program, and the GIP-led consortium鈥檚 participation as investors in a key component of our unconventional gas operations demonstrates the attractive value proposition of the project.鈥 

He added: This foreign direct investment into the Kingdom also highlights the appeal of Aramco鈥檚 long-term strategy to the international investment community. As Jafurah prepares to start phase one production this year, development of subsequent phases is well on track.鈥 

As part of the deal, Aramco will own 51 percent of JMGC, while the GIP-led group will hold the remaining 49 percent. The transaction, free of production volume restrictions, is expected to close once customary conditions are met.

Jafurah, the Kingdom鈥檚 largest non-associated gas field, holds an estimated 229 trillion cubic feet of raw gas and 75 billion stock tank barrels of condensate. The field is central to Aramco鈥檚 plan to boost gas production capacity by 60 percent between 2021 and 2030 to meet rising demand.

Bayo Ogunlesi, GIP鈥檚 chairman and CEO, said: 鈥淲e are pleased to deepen our partnership with Aramco with our investment in 萝莉视频鈥檚 natural gas infrastructure, a key pillar of global natural gas markets.鈥 

The deal attracted significant interest from global investors, with co-investors from Asia and the Middle East participating. Aramco said the agreement will help optimize its asset portfolio and capture additional value from Jafurah鈥檚 development.


Oil Updates 鈥 prices maintain gains ahead of Trump-Putin summit聽

Oil Updates 鈥 prices maintain gains ahead of Trump-Putin summit聽
Updated 15 August 2025

Oil Updates 鈥 prices maintain gains ahead of Trump-Putin summit聽

Oil Updates 鈥 prices maintain gains ahead of Trump-Putin summit聽

NEW YORK: Oil prices nudged higher on Friday to fresh one-week highs after US President Donald Trump warned of 鈥渃onsequences鈥 if Russia blocked a Ukraine peace deal, injecting concerns about supply. 

Sentiment was also boosted by strong economic data out of Japan, which is among the largest global crude importers. 

Brent crude futures gained 16 cents, or 0.2 percent, to $67.00 a barrel by 03:17 a.m. Saudi time. US West Texas Intermediate crude futures were up 14 cents, also 0.2 percent, to $64.10. 

All eyes are on Friday鈥檚 meeting of Trump and Russian leader Vladimir Putin in Alaska, where a ceasefire in the Ukraine war is at the top of the agenda. A continued conflict between Russia and Ukraine supports oil markets by limiting the supply of Russian oil. 

Trump, however, also said he believes Russia is prepared to end the war in Ukraine. 

Fresh Japanese government data released on Friday showed the economy expanded an annualised 1.0 percent in the April-June quarter, compared with a median market forecast for a 0.4 percent increase. 

The rise in gross domestic product translated into a quarterly increase of 0.3 percent, compared with a median estimate of a 0.1 percent increase. Strong economic activity typically spurs oil consumption. 

Prospects of higher-for-longer US interest rates, however, kept oil prices from rising further. 

Higher-than-expected inflation data and weak jobs numbers out of the US raised concerns that the Federal Reserve would keep interest rates high, usually a dampener of oil consumption.


Closing Bell: Saudi main index ends the week in green at 10,833

Closing Bell: Saudi main index ends the week in green at 10,833
Updated 14 August 2025

Closing Bell: Saudi main index ends the week in green at 10,833

Closing Bell: Saudi main index ends the week in green at 10,833
  • Parallel market Nomu gained 282.36 points to close at 26,615.66
  • MSCI Tadawul Index edged up 0.72% to 1,401.67

RIYADH: 萝莉视频鈥檚 Tadawul All Share Index edged up on Thursday, gaining 70.12 points, or 0.65 percent, to close at 10,833.59.

The total trading turnover on the main index reached SR4.37 billion ($1.16 billion), with 174 stocks advancing and 74 declining.

The Kingdom鈥檚 parallel market Nomu gained 282.36 points to close at 26,615.66. The MSCI Tadawul Index edged up 0.72 percent to 1,401.67.

The best-performing stock on the main market was Thimar Development Holding Co., which jumped 10 percent to SR40.04. 

Saudi Industrial Development Co. rose 9.96 percent to SR33.12, while Saudi Printing and Packaging Co. gained 5.6 percent to SR12.63.

Elm Co. posted the sharpest drop, falling 3.40 percent to SR881. Theeb Rent a Car Co. declined 3.03 percent to SR62.35, Nice One Beauty Digital Marketing Co. dropped 2.62 percent to SR24.13, and Al Mawarid Manpower Co. decreased 2.59 percent to SR 128.1.

On the announcements front, Group Five Pipe Saudi Co. posted a substantial increase in its net profit for the first half of the year, supported by strong sales growth, the company said in a filing on Wednesday.

According to the firm鈥檚 financial disclosure on the Saudi Exchange, net profit for the six months ending June 30 reached SR125.18 million, a significant rise from SR9.2 million recorded during the same period in 2024. This marks a year-on-year jump of over 1,259 percent.

The increase in profit was primarily driven by volume growth and lower production costs.

Group Five Pipe Saudi Co.鈥檚 share price traded 29.95 percent higher to close at SR38.96.

National Signage Industrial Co., also known as Sign World, has set the price range for its initial public offering between SR12 and SR15 per share, according to a statement issued by Yaqeen Capital, the company鈥檚 financial adviser and lead manager.

The offering consists of 1.5 million ordinary shares, representing 20 percent of Sign World鈥檚 post-listing issued share capital. The entire stake is allocated to qualified investors as part of the book-building process.

Yaqeen Capital said the bidding and book-building period for qualified investors will commence on Aug. 17 and close on Aug. 24.

Qualified subscribers may apply for a minimum of 10 shares and up to a maximum of 374,990 shares.