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Sedco Holding Sells 15% Stake in Nahdi through First Portfolio Company IPO

SEDCO Holding announced the successful listing of its portfolio company Nahdi Medical Company (Nahdi) on the Saudi Exchange main index.
SEDCO Holding announced the successful listing of its portfolio company Nahdi Medical Company (Nahdi) on the Saudi Exchange main index.
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Sedco Holding Sells 15% Stake in Nahdi through First Portfolio Company IPO

SEDCO Holding announced the successful listing of its portfolio company Nahdi Medical Company (Nahdi) on the Saudi Exchange main index.
SEDCO Holding announced the successful listing of its portfolio company Nahdi Medical Company (Nahdi) on the Saudi Exchange main index.

SEDCO Holding, one of the largest family-owned investment groups in the Kingdom of Saudi Arabia, announced the successful listing of its portfolio company Nahdi Medical Company (Nahdi) on the Saudi Exchange main index. This marks SEDCO Holding’s first partial exit through a public share sale. SEDCO Holding invested in Nahdi in 2003 by acquiring 50% of the business, and will retain 35% ownership post listing.

Nahdi is the market leading retail pharmacy chain in Saudi Arabia with 1,151 pharmacies and a fast-growing primary healthcare services business with two polyclinics and seven express clinics evolving into a holistic omni-health platform. Nahdi’s pharmacies cater to 100 million customers annually through Saudi Arabia’s largest brick and mortar network, serving 97% of the nation’s population across 144 cities and towns.

Sheikh Saleh Salem Bin Mahfouz, Chairman of SEDCO Holding and Nahdi Medical Company, said: “The listing of Nahdi on the Saudi Exchange is a significant milestone for both Nahdi and SEDCO Holding. It is a culmination of the collaborative efforts of SEDCO Holding and Nahdi in growing the company to become the largest retail pharmacy chain in Saudi Arabia while evolving into a full-fledged omnichannel health platform. This partnership also reinforces SEDCO Holding’s active, long-term investment approach in promising businesses and its vital role in driving socioeconomic development aligned with Vision 2030. I would like to welcome the new shareholders of Nahdi to the company. We look forward to continuing to support the company, and collaboratively benefiting the lives of people in the Kingdom and beyond.”

Eng. Rayyan Nagadi, Chief Executive Officer of SEDCO Holding, said: “Nahdi has been an outstanding investment for SEDCO Holding, and we are very proud of this major milestone. We have worked closely with the management team to drive profitable growth and expansion across the Kingdom, and instilled a robust corporate governance framework into the business to further improve operational efficiency. By retaining 35% ownership in Nahdi, we are demonstrating our belief in, and commitment to, Nahdi’s next phase of growth. We are proud to continue to partner with Nadhi and add value as a strategic shareholder. Further, we are actively seeking investment opportunities in promising businesses within sectors that align with our strategy and with Vision 2030.”

Eng. Yasser Joharji, Chief Executive Officer of Nahdi, said: “SEDCO Holding has been a committed strategic partner with Nahdi for over 19 years, and has played an invaluable role in us reaching this major milestone. SEDCO Holding has fast-tracked our transformation into a leading retail pharmacy chain in Saudi Arabia and a fast-growing primary healthcare, omni-health platform. We are pleased that SEDCO Holding is staying on as a strategic investor with representatives remaining on our Board following the listing, which will provide Nahdi with stability and support as we accelerate our growth strategy.”

Earlier this year, SEDCO Holding fully exited its stake in Ejada through a sale to Al Rajhi Bank and also completed the sale of Arabian Entertainment Company Limited (“AEC”) to GLD Partners LP, a privately-held Los Angeles investment management firm. SEDCO Holding is focusing its investments in promising businesses within strategic sectors in the Kingdom — including healthcare, real estate, hospitality, and education.

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Business

Iraq in Talks with Gulf States on Pipeline Exports beyond Hormuz

Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
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Iraq in Talks with Gulf States on Pipeline Exports beyond Hormuz

Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 

Iraq is in talks with Gulf countries to use their pipeline networks to secure alternative oil export routes beyond the Strait of Hormuz, the state oil marketer SOMO said Thursday.

The move is part of an emergency strategy by the oil ministry to tap regional infrastructure and bypass maritime chokepoints, ensuring Iraqi crude continues to reach global markets while offsetting higher transport costs linked to the current crisis.

Ali Nizar al-Shatari, head of the State Organization for Marketing of Oil (SOMO), said the ministry is prioritizing negotiations to access Gulf pipeline systems extending beyond the Strait of Hormuz and into the Arabian Sea, allowing exports to avoid areas of military tension.

“The goal is to secure stable routes that guarantee efficient flows of Iraqi oil at lower transport costs,” Shatari said, adding that Iraq generated about $2 billion in oil revenues in March, up 28 percent from February.

He said SOMO exported around 18 million barrels of crude from Basra, Kirkuk and the Kurdistan region by using all available outlets, including southern ports that operated until early March and northern routes to Türkiye’s Mediterranean port of Ceyhan.

As part of efforts to diversify export options, Shatari revealed that the first shipments of fuel oil and Basra Medium crude successfully reached Syrian ports.

He noted that Iraq had signed a deal to export 50,000 barrels per day via this route, describing cooperation with Syria as “very significant,” with storage and security provided to ensure safe delivery to the port of Baniyas.

The route has proven effective and could become a permanent option after the crisis, he added.

Shatari further noted that the oil ministry is close to completing repairs on the Iraq-Türkiye pipeline, which suffered extensive damage in previous years.

Technical teams have inspected the most difficult terrain, with about 200 kilometers (125 miles) still to be assessed in the coming days before full pumping of Kirkuk crude resumes.

In a notable logistical move, Iraq has begun pumping Basra crude northwards for export via Ceyhan.

Flows started at 170,000 barrels per day and are expected to stabilize between 200,000 and 250,000 bpd, helping offset disrupted southern exports and supply energy-hungry markets in Europe and the Americas.

Shatari said Iraq has benefited from rising global prices by selling Kirkuk crude — a medium-grade oil — at strong premiums.

He also confirmed the reactivation of an agreement with the Kurdistan region to reuse the pipeline through the region to Ceyhan, helping lift total exports to 18 million barrels in March.

This came despite a drop in production in Kurdistan fields to about 200,000 bpd due to security threats, he added.

 

 

Business

World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
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World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)

The war in the Middle East has pushed food commodity prices higher due to higher energy and fertilizer costs, the UN's food agency said Friday. 

The UN's Food and Agriculture Organization (FAO) said its Food Price Index, which measures the monthly changes in international prices of a basket of food commodities, had increased 2.4 percent in March from February. 

It was the second rise in a row, which the agency said was largely due to higher energy prices linked to conflict in the Middle East. 

Within the index, the category of vegetable oil saw the sharpest rise, of 5.1 percent over February, as palm oil prices reached their highest point since the middle of 2022, due to effects from spiking crude oil prices, FAO said. 

However, a "broadly comfortable" supply of cereal has cushioned the damaged from the conflict, FAO said. 

"Price rises since the conflict began have been modest, driven mainly by higher oil prices and cushioned by ample global cereal supplies," said FAO Chief Economist Maximo Torero in a statement. 

But he warned that if the conflict goes on beyond 40 days and the high prices on fertilizer continue, "farmers will have to choose: farm the same with fewer inputs, plant less, or switch to less intensive fertilizer crops". 

"Those choices will hit future yields and shape our food supply and commodity prices for the rest of this year and all of the next." 

Disruptions to production and supply chain routes had also introduced "additional uncertainty" into the outlook for wheat and maize, FAO found. 

Business

Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
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Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)

Turkish consumer price inflation was 1.94% month-on-month in March, while the annual figure fell to 30.87%, data from the Turkish Statistical Institute showed ‌on Friday.

In ‌a Reuters ‌poll, ⁠monthly inflation was ⁠forecast to be 2.32%, with the annual rate seen at 31.4%, driven by ⁠a rise in ‌fuel prices ‌and weather-related pressures ‌on food inflation.

In ‌February, consumer prices rose 2.96% month-on-month and 31.53% year-on-year, broadly in ‌line with estimates and reinforcing expectations that ⁠the ⁠disinflation process may be stalling.

The data also showed the domestic producer index rose 2.30% month-on-month in March for an annual increase of 28.08%.