Here are a few things you need to know as Saudi stocks start trading on Monday.
1) The Saudi Stock Exchange (Tadawul) will extend on Dec. 17 the closing auction and trade at last session to 20 minutes instead of 10 minutes.
2) The Company for Cooperative Insurance (Tawuniya) secured a SAR 115 million deal with Tahakom Investment Co. and its affiliated companies to provide insurance services to their employees.
3) Aseer Trading, Tourism & Manufacturing Co. filed a lawsuit against the seller of the land located in north of Riyadh and requested the refund of the paid land price.
4) Al Moammar Information Systems Co. (MIS) renewed and modified a Sharia-compliant facility agreement worth SAR 110 million with Arab National Bank (ANB).
5) Middle East Specialized Cables Co. (MESC) inked a Sharia-compliant debt rescheduling agreement with a consortium of banks to reschedule SAR 94.1 million out of its SAR 308 million debt.
6) Saudi Electricity Company (SEC) awarded a Smart Metering project to install and commission 10 million smart meters for consumers across the Kingdom for a total cost of SAR 9.5 billion.
7) Alinma Bank’s board of directors recommended a 33.33% capital hike to SAR 20 billion from SAR 15 billion through issuance of bonus shares.
8) Solidarity Saudi Takaful Co. obtained the Council of Cooperative Health Insurance’s (CCHI) approval to renew its health insurance license.
9) Etihad Etisalat Co. (Mobily) signed a SAR 7.6 billion refinancing Murabaha facility agreement with a group of Saudi banks.
10) Brent crude declined 0.31% on Monday to $65.02 per barrel whereas WTI Crude also decreased 0.350% to $59.86/bbl.
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