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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

IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.

Business

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.

Business

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.