JEDDAH: A special committee has found individuals guilty of providing insider information and insider trading in shares of Saudi telecoms operator Mobily, leaving them facing potential jail terms of between one and two years, the Capital Market Authority (CMA) said on Thursday.
The findings of Saudi Arabia’s Committee for the Resolution of Securities Disputes (CRSD) are not final and the accused have 30 days to lodge an appeal, the CMA said.
The CMA did not name the accused or say how many there were.
The action follows an investigation launched by the CMA in November 2014 after Mobily, part-owned by the UAE-based Etisalat and formally known as Etihad Etisalat, was forced to restate 27 months of earnings because of accounting errors. The restatement cut SR1.76 billion ($469 million) from the company’s profit over the period.
Mobily, the second-largest telecoms company in Saudi Arabia, declined to comment. Etisalat representatives were not immediately available for comment.
The CMA said that the ruling by the CRSD, a quasi-judicial body formed under the Kingdom’s Capital Market Law, included a fine of SR30.5 million for one of the suspects and a further SR284.5 million fine for an unnamed company.
All those found guilty would also be banned from managing portfolios, working as investment consultants or working in listed companies for three years, the CMA said.
The CMA added that the CRSD’s ruling cited the Kingdom’s Capital Market Law on obtaining insider information about a company and Market Conduct Regulations that ban the disclosure of inside information or insider trading.
Saudi panel rules on insider trading in Mobily shares
Saudi panel rules on insider trading in Mobily shares
Saudi Maaden reports 156% surge in annual net profit to $2bn on strong commodity prices and record production
RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.
The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.
This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.
In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”
The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.
Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.
“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.
Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.
The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.
The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.
The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.
Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.
“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.
Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.
