Investcorp, a global provider and manager of alternative investment products, and Leejam Sports Company JSC (Leejam), Saudi Arabia’s major health and fitness club management company managing the Fitness Time brand, on Sunday announced that Investcorp’s Gulf Opportunity Fund has acquired a 25 percent minority stake in the Leejam business. As part of the agreement, the fund will be represented on Leejam’s board and will play an active role in its strategic choices and growth opportunities.
Leejam was established in 2007 by CEO and founder Abdulmohsen Al-Haqbani. The company today employs over 1,400 people and operates over 62 locations currently in Saudi Arabia and 22 branches under construction (two of which are in Dubai). Fitness Time is currently claimed to be the largest network of Sports and Fitness clubs in the Middle East.
Mohammed Al-Shroogi, Investcorp's president, Gulf business, said: “Leejam is the fund’s third investment in the Kingdom and ninth in the wider region. This investment reaffirms our commitment to supporting regional businesses that are committed to grow and expand. We are happy to partner with Leejam and we believe that our combined efforts will result in even more success for the company.”
Walid Majdalani, MD, Investcorp Corporate Investments-MENA, said: “A key focus for our team will be to help generate additional growth opportunities for the business, while at the same time working with the management to consolidate the foundations, resources and infrastructure that are needed to support and ensure sustainable growth.”
Leejam founder and CEO Abdulmohsen Al-Haqbani said: “We are delighted to be partnering with Investcorp, as we believe this will provide our business with the additional resources and expertise to continue to strengthen our brand, consolidate our position in our domestic market and facilitate potential growth across the Middle East.”
Investcorp's $1 billion Gulf Opportunity Fund invests in companies in the GCC and Turkey as well as the wider MENA region. Its investment in Leejam, follows a recently announced a 38 percent investment in AYTB, which was preceded by a 35 percent stake in Kuwait’s Automak and a 30 percent stake in Orka Group, one of Turkey's leading and fastest growing menswear retailers. Last year, the Gulf Opportunity Fund successfully exited from its first investment in UAE-based Redington Gulf.
Investcorp fund acquires 25% stake in Leejam
Investcorp fund acquires 25% stake in Leejam
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
