MIS’s Humain contract balloons
MIS is scaling up its AI data center contract with Humain fivefold. Al Moammar Information Systems received an award letter increasing the project’s capacity to 250 MW from 50 MW, per a Tadawul filing. The added scope covers 200 MW of new data centers, built in phases, taking the total contract value above 689% of the company’s 2025 revenue.
REMEMBER- The original contract, signed in March, was valued at more than 155% of MIS’s 2024 revenue.
Market reax: MIS shares hit a record high on the news, with shares up 87% this year. The expanded contract now sits close to the company’s entire SAR 9.75 bn market cap. The surge has lifted founders Ibrahim and Khalid Al Moammar, who hold just over 50%, to a combined fortune of about USD 1.4 bn, according to Bloomberg.
BinDawood finds financing for Estonia dairy buy
BinDawood Holding has secured a SAR 542 mn Sharia-compliant Murabaha facility from Banque Saudi Fransi and Gulf International Bank to fund its purchase of dairy assets from Estonia’s AS E-Piim Tootmine, the company said. The financing runs three to five years, with no bank guarantees provided.
What it’s buying: BinDawood agreed to acquire the Estonian dairy plant for around EUR 135.25 mn through its wholly owned subsidiary JUUST & JUBN OÜ. The plant processes 1.1 mn kg of milk a day and accounts for about 15% of Estonia’s cheese market.
REMEMBER- BinDawood has spent around SAR 1.8 bn on acquisitions since 2022, expanding beyond grocery retail into food manufacturing, including three Jeddah factories and UAE-based Wonder Bakery. It plans to invest up to SAR 1.5 bn more over the next two to three years, mainly in Saudi Arabia.
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