Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Arabian Amiantit Co.’s shareholders are set to vote on a 70.2 percent capital cut to SAR 344.52 million from SAR 1.155 billion during the extraordinary general assembly meeting that will be held on Sept. 8, 2019.
2) Bupa Arabia for Cooperative Insurance has inked an agreement with Saudi Telecom Co. (STC) to provide health insurance services for the company’s staff and their dependents for one year.
3) Baazeem Trading Co.’s net profit after zakat and tax rose by 4.8 percent year-on-year (YoY) to SAR 12.4 million for H1 2019 due to higher sales, and rationalization of marketing and selling expenses.
4) Al-Samaani Factory for Metal Industries Co. reported a net loss after zakat and tax of SAR 622,000 for the first half of 2019, compared to a net profit of SAR 2.35 million a year earlier.
5) The Securities Depository Center Co. (Edaa) has announced the implementation of the issue size increase for Saudi Government SAR sukuk (corresponding to Jan 5. 2019, Oct. 10, 2018 and March 15, 2019).
6) Brent crude on Monday fell 58 cents to reach $58.76 per barrel whereas WTI Crude also decreased 64 cents to reach $53.53/bbl.
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