Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) The inclusion of Saudi Aramco’s shares in MSCI’s indexes will come into effect today Dec. 18.
2) Around 66.25 million of Saudi Aramco’s shares were traded on December 17 through 1,209 transactions, at a total value of SAR 2.5 billion during closing auction and trade at last session.
3) The Capital Market Authority (CMA) approved Tabuk Agricultural Development Company’s (TADCO) request to reduce its capital from SAR 450 million to SAR 241.767 million.
4) Tihama Advertising & Public Relations Co. signed on Tuesday a Murabaha loan agreement with an affiliate of Adeem Capital at a value of SAR 1.5 million.
5) Bank Aljazira’s extraordinary general meeting (EGM) approved authorizing the board of directors to distribute interim dividends to shareholders on a quarterly or biannual basis for the year 2020.
6) Raydan Cuisines and Restaurants Co. signed on Dec. 16 a franchise agreement with Al Hayal Restaurant & Kitchen at a total value of SAR 112,500.
7) Arabian Pipes Company (APC) secured a SAR 174 million contract to supply steel pipes to Saudi Aramco.
8) AXA Cooperative Insurance Co.’s shareholders approved an 11.11% capital hike to SAR 500 million from SAR 450 million through the issuance of bonus shares.
9) Brent crude declined 0.50% on Wednesday to $65.77 per barrel whereas WTI Crude also shed 0.69% to $60.52/bbl.
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