DUBAI: Floranow, a Dubai-based B2B floral marketplace said it acquired the distribution business of Saudi Arabia’s Astra Farms
Floranow describes itself as the MENA region’s first online B2B flower marketplace, connecting global producers of flowers and plants to regional and international buyers, including florists, hotels, event planners and supermarkets.
Astra Farm is the Middle East’s largest producer of cut flowers and runs an extensive distribution network across the Kingdom.
“It will enable us to help the Saudi floriculture sector innovate and thrive via the use of amazing technology and world-class, cool-chain logistics,” said Charif Mzayek, Floranow’s founder and CEO.
The company said the deal will disrupt the Kingdom’s floral industry by introducing innovative technology to an otherwise traditional sector.
The value of the acquisition was not disclosed.
Saudi flower farm Astra plucked by Dubai-based Floranow
https://arab.news/2z34e
Saudi flower farm Astra plucked by Dubai-based Floranow
- Floranow describes itself as the MENA region’s first online B2B flower marketplace
Closing Bell: Saudi main index closes in green at 11,382
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 111.21 points, or 0.99 percent, to close at 11,381.83.
The total trading turnover of the benchmark index was SR6.37 billion ($1.70 billion), as 204 of the listed stocks advanced, while 56 retreated.
The MSCI Tadawul Index also rose, adding 13.85 points, or 0.91 percent, to close at 1,533.33.
The Kingdom’s parallel market Nomu gained 8.39 points, or 0.04 percent, to close at 23,749.38. This came as 30 of the listed stocks advanced, while 45 retreated.
The best-performing stock was East Pipes Integrated Co. for Industry, with its share price surging 9.94 percent to SR146.
Other top performers included Tourism Enterprise Co., which saw its share price rise by 9.93 percent to SR14.17, and Thob Al Aseel Co., which saw a 7.84 percent increase to SR3.99.
On the downside, Saudi Arabian Mining Co. was among the weaker performers, with its share price falling 2.64 percent to SR77.40.
Saudi Paper Manufacturing Co. saw its shares fall 2.54 percent to SR57.50, while Yamama Cement Co. declined 2.07 percent to SR27.40.
On the announcements front, Future Vision for Health Training Co. signed a two-year cooperation agreement with King Saud University aimed at strengthening links between academia and professional readiness.
According to a Tadawul statement, the partnership focuses on the joint development and execution of specialized training programs for university students, aiming to enhance their practical skills and employability.
The initiative includes coordinated efforts in training design, academic supervision, and program evaluation, with the goal of better preparing graduates for the labor market.
The agreement, which is renewable by mutual consent, is expected to start generating a positive financial impact in the second half of 2026. The company said no related parties are involved in the deal.
The company’s share price closed at SR7.30 on Nomu, marking a 1.39 percent decrease.
