Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Institutional investors injected SAR 144.16 billion into Saudi Aramco’s IPO to subscribe to 4.55 billion shares in 15 days, according to the IPO’s joint financial advisors and joint global coordinators.
2) The Capital Market Authority approved Saudi Cable Company's request to increase its capital by way of rights issue valued at SAR 250 million.
3) Leejam Sports Co.’s (Fitness Time) board of directors recommended a 4.97% cash dividend for the third quarter of 2019.
4) Saudia Dairy and Foodstuff Co.’s (SADAFCO) board of directors recommended a 25 percent cash dividend for the first half of the fiscal year 2019-20 ended Sept. 30, 2019.
5) Tabuk Agriculture Development Co. filed a request with the Capital Market Authority to reduce its capital by 46.27% to offset accumulated loses.
6) Saudi Real Estate Co. (Al Akaria) said the residential villas at Al Remal District are 85.3% complete.
7) Saudi Paper Manufacturing Co. (SPMC) filed a complaint with the Capital Market Authority against a former board chairman and a shareholder that requested dismissal of the existing board, claiming compensation for suspected violations.
8) Saudi Public Transport Co. (SAPTCO) signed an agreement with The Company for Cooperative Insurance (Tawuniya) to provide health insurance services for its employees and their families for a value of SAR 21.5 million.
9) Brent crude rose 12 cents to reach $61.04/bbl, while WTI crude edged up 12 cents to $56.14/bbl on Tuesday morning.
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