Jadwa Investment acquires 35% stake in Kuwaiti perfumer Gissah

Jadwa’s acquisition of Kuwait’s Gissah Perfumes Co. took place through its private equity arm, Jadwa Retail Opportunities Fund.
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Updated 23 August 2023
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Jadwa Investment acquires 35% stake in Kuwaiti perfumer Gissah

RIYADH: Saudi Arabia’s Jadwa Investment announced on Wednesday that it has acquired a 35 percent equity stake in one of the Gulf region’s fastest-growing fragrance companies.

Jadwa’s acquisition of Kuwait’s Gissah Perfumes Co. took place through its private equity arm, Jadwa Retail Opportunities Fund, the companies disclosed in a joint statement on Wednesday.

As one of the Kingdom’s leading privately owned investment banks, Jadwa prepares to unlock the fragrance company’s next growth phase.

“This partnership represents a new chapter for Gissah, as it will enable us to continue to build on our growth momentum, advance our corporate journey and prepare the company for public listing on the Saudi Stock Exchange,” said Faisal Al-Shayji, chairman of Gissah. 

The timeline for Gissah’s planned listing on the Kingdom’s stock exchange and the value of the investment have not been yet disclosed.

Launched in 2018, Gissah grew rapidly with 80 stories in 25 cities across Saudi Arabia, Kuwait, the UAE and Bahrain.

Elie El-Khoury, head of private equity at Jadwa Investment, said: “Gissah is rising star in the GCC’s perfume sector.”


Closing Bell: Saudi main index slips to close at 11,228 

Updated 15 February 2026
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Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.