Energy PIF-backed Tabreed explores Saudi listing this year By Pramod Kumar January 10, 2025, 11:01 AM Saudi Tabreed/Twitter Saudi Tabreed currently manages 779,000 tonnes of refrigeration via contracts with major companies in the kingdom Tabreed District Cooling is planning to launch an initial public offering (IPO) on the Saudi stock market this year, according to a news report. Backed by the Public Investment Fund (PIF), the refrigeration and cooling company has hired Citigroup and SNB Capital for a potential flotation, Bloomberg reported, citing informed sources. While no final decisions have been taken, details on size and timelines are under discussion, sources said. PIF acquired a 30 percent stake in Saudi Tabreed in 2022 to support the growth and development of the local utilities and low-carbon sectors. The sovereign fund has a strong track record of investing in the low-carbon sector, including electric vehicles and solar energy projects, as part of a commitment to developing 70 percent of the kingdom’s renewable energy by 2030. Developer’s out-of-this-world solution to greener cooling UAE’s Tabreed to invest $200m in Indian pharma city PIF’s new venture to invest $10bn in green hydrogen Dubai-listed National Central Cooling Company (Tabreed) holds a 21.8 percent stake in its Saudi affiliate, the news agency reported. Saudi Tabreed currently manages 779,000 tonnes of refrigeration via contracts with major companies in the kingdom. This includes Saudi Aramco’s Dhahran district cooling plant, Jabal Omar district cooling plant in Mecca, a district cooling scheme at King Khalid International Airport in Riyadh and a centralised cooling plant at the Amaad Business Park in Dhahran.
Education Gems Education announces $100m Dubai school Gems Education has revealed plans to open the most expensive school in the Gulf, which is set for completion later this year. It is spending $100 million to develop Gems School of Research and Innovation in Dubai Sports City. Annual fees will start from AED116,000 ($31,582) for early-years education and rise to AED206,000 by the […] 3 hours ago
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Energy Turkey needs $80bn for energy transition, says minister Turkey needs $80 billion to meet growing energy demand, which has tripled in the last two decades, the energy minister said on Monday. “We need to attract capital into our energy markets. We need to find new business solutions,” Alparslan Bayraktar said at the International Renewable Energy Agency assembly in Abu Dhabi, adding that the […] 2 hours ago
