Bahrain announced on Friday evening that a fourth soldier in its unit participating in the Saudi-led Arab coalition died of wounds he sustained during the attack launched by the Houthi militia, an arm of Iran, on the Saudi border last week.

The General Command of the Bahrain Defense Force mourned, "First Lieutenant Hamad Khalifa Al-Kubaisi.

.. succumbed to his serious injuries as a result of the treacherous Houthi hostile attack that took place on the morning of Monday, 9/25/2023."

The Kingdom of Bahrain announced the killing of three of its soldiers stationed near the Saudi-Yemeni border, and accused Iran's arm in Yemen of carrying out drone attacks that claimed the lives of these soldiers.

The General Command of the Bahrain Defense Force said in the obituary statement: “The attack occurred while the martyr was performing his sacred national duty within the coalition forces, the coalition to support legitimacy in Yemen, participating in operations to restore hope and stationed on the southern border of the Kingdom of Saudi Arabia.”

The unprovoked Houthi militia attack on the southern border of Saudi Arabia led to regional and international reactions denouncing and condemning this attack, as it was condemned by the Arab countries, the United States, the United Nations, France, Britain, and Germany. The attack was considered on a wide regional and international scale as a serious threat to the progress of peace talks between the Kingdom of Saudi Arabia and the Houthi militia, whose delegation returned from Riyadh the week before last after a round of talks that lasted 5 days.

It was reported that Saudi Arabia and Bahrain discussed the repercussions of the Houthi attack on the southern border of Saudi Arabia during the visit of Saudi Foreign Minister Faisal bin Farhan, who recently visited Manama for this purpose.

On Friday, members of the UN Security Council condemned the Houthi attack on the southern border of the Kingdom of Saudi Arabia in the middle of last week. The Council said in a statement of condemnation: The members of the Security Council “strongly condemn the horrific and escalating drone attack, attributed to the Houthis, on members of the Armed Forces of the Kingdom of Bahrain operating within the Arab Coalition to Support Legitimacy in Yemen, on the southern border of the Kingdom of Saudi Arabia.”

The Security Council considered this attack “a serious threat to the peace process and regional stability, including in Yemen.” Security Council members called on the Houthis to end all terrorist attacks, and reiterated concern about the targeting of civilian infrastructure in cities located on the southern border of Saudi Arabia.

The members of the Security Council stressed that any escalation would only exacerbate the suffering of the Yemeni people.

They reaffirmed "the need to take decisive steps towards a sustainable ceasefire" and affirmed their continued strong support for efforts to reach a political settlement and ultimately end the suffering of the Yemeni people. They reaffirmed their support for UN Special Envoy Hans Grundberg in his efforts to reach a negotiated and comprehensive political settlement led and owned by the Yemenis on the basis of agreed terms of reference and in accordance with the relevant Security Council resolutions.

Observers believe that this attack would negatively impact the ongoing talks between Saudi Arabia and the Houthi militia, and would also affect confidence-building measures between Saudi Arabia and Iran after the agreement they reached under the auspices of China. Observers link what was stated in the Saudi Foreign Ministry’s statement about the recent attack to its implicit accusation of Iran being lenient in pressuring the Houthi militia to stop its attacks on the Kingdom. The statement said that the Kingdom "renews its position calling for stopping the continued flow of weapons to the terrorist Houthi militia, preventing their export into Yemen, and ensuring that they do not violate United Nations resolutions."

Observers expect that the coming days will witness more political repercussions of this attack, and they have not ruled out the occurrence of military repercussions as well, especially after the statement of the Arab coalition spokesman, Turki al-Maliki, in which he said that the coalition reserves the right to respond to this attack at the appropriate time and place.

المصدر: نيوزيمن

كلمات دلالية: the Houthi militia Saudi Arabia and

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EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange

 

EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)،announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company(SMC)، one of the leading healthcare providers in the Kingdom of Saudi Arabia، on the Main Market of the Saudi Exchange(Tadawul). This marks EFG Hermes’ third IPO in the healthcare space in the past 12 months، further reinforcing its position as a trusted advisor across the region’s most dynamic sectors.

The company began trading today under the ticker 4019.

Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share، implying a market capitalization of SAR 6،250 million (USD 1،667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion، representing a coverage of 64.7x.

Karim Meleka، Co-Head of Investment Banking at EFG Hermes، said، “We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region، the offering attracted overwhelming interest from a diverse base of local، regional، and international investors — a clear vote of confidence not only in SMC’s fundamentals but also in the resilience of Saudi Arabia’s capital markets and the strength of its macroeconomic outlook.”

SMC was founded in 1999 and is one of Riyadh’s leading multi-specialty private healthcare providers، with a 25-year track record of delivering high-quality، patient-centric medical care.The Company operates two state-of-the-art hospitals in Riyadhwith a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh، where rapid urban development is creating strong demand for healthcare services. With three additional hospitals، it is expected to capture over 25% of private hospital capacity in the area، establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh’s new urban hub. Once operational، the new facilities are expected to more than double the Company’s current capacity to approximately 1،276 beds and 770 outpatient clinics.

EFG Hermes acted as a Joint Financial Advisor، Joint Bookrunner، and Joint Underwriter on the transaction.

EFG Hermes has advised on six IPOs across the region year to date، including landmark transactions on Tadawul، the Abu Dhabi Securities Exchange، the Muscat Stock Exchange، and the Egyptian Exchange، underscoring its regional leadership in equity capital markets.

- ENDS –

About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes)، Non-Bank Financial Institutions (NBFI) (EFG Finance)، and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele، including individual clients and businesses of all sizes.

 

EFG Hermes، the leading investment bank in the Middle East and North Africa (MENA)، offers extensive financial services، encompassing advisory، asset management، securities brokerage، research، and private equity. In its domestic market، EFG Holding serves as a universal bank، with EFG Finance emerging as the fastest-growing NBFI platform، comprising Tanmeyah،  a provider of innovative and integrated financial solutions for small business owners and entrepreneurs، EFG Corp-Solutions، which provides leasing and factoring services، Valu، a universal financial technology powerhouse، Bedaya for mortgage finance، Kaf for insurance، and EFG Finance SMEs، which provides financial services for small and medium enterprises. Furthermore، the company delivers commercial banking solutions through Bank NXT، an integrated retail and corporate banking product provider in Egypt. 

 

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