Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) State-owned Saudi Aramco will start trading on the Saudi Stock Exchange (Tadawul) today with the symbol 2222, and a daily price fluctuation limit of 10%.
2)Saudi Cable Co.’s shareholders are set to vote on a proposed capital hike to SAR 360.6 million through a SAR 250 million rights issue, on December 31, 2019.
3) The board of directors of National Gas and Industrialization Co. (GASCO) appointed Abdulaziz bin Fahad AlKhayal as a chairman of the board, and Ali bin Mohammed AlSaflan as vice chairman, for a 3-year term started Nov. 29, 2019.
4)Jarir Marketing Co. signed a SAR 500,000 contract with Rubeen Al Arabia Co., to provide management, operation, and maintenance services to Rubeen Plaza commercial complex.
5) Al Ahsa Development’s (ADC) board of directors appointed on Tuesday Raed Bin Mohammed Al-Naeem as the new chief executive officer (CEO).
6) The board of directors of Anaam International Holding Group Co. (Anaam Holding) invited shareholders to vote on capital cut by 92.35% to SAR 15 million from SAR 196 million to offset its accumulated losses.
7)Ash-Sharqiyah Development Co.announced on Tuesday announced the publication of the shareholders’ circular for capital hike on the Saudi Stock Exchange (Tadawul) for the planned acquisition of real estate assets in Riyadh.
8) Brent crude on Wednesday declined 40 cents to reach $63.94 per barrel whereas WTI Crude also decreased 30 cents to reach $58.94/bbl