Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Shareholders of Walaa Cooperative Insurance Co. and MetLife AIG ANB Cooperative Insurance Co. will discuss on Jan. 27 the proposed merger between both insurers through issuing 0.66 new shares for each outstanding share in MetLife AIG ANB.
2) The Saudi Investment Bank (SAIB) appointed Salman Badar Al-Fughom as the new deputy CEO, effective from Sunday, Jan. 5, 2020.
3) Ataa Educational Co. signed a Shariah-compliant bank facility of SAR 275 million with Banque Saudi Fransi.
4) Saudi Cable Co. will start its rights issue today to increase capital from SAR 110.61 million to SAR 360.61 million.
5) Al Moammar Information Systems Co.’s (MIS) board of directors recommended a 25% capital hike to SAR 200 million from SAR 160 million through the issuance of bonus shares.
6) The extraordinary general assembly meeting (EGM) held by Tabuk Cement Co. approved on Jan. 2 the election of a new board of directors for the new 3-year term.
7) Mouwasat Medical Services Co.’s (Mouwasat) board of directors appointed on Jan. 4 Mohammed Sultan Al-Subaie as chairman, and Nasser Sultan Al-Subaie as vice chairman.
8) Brent crude on Monday gained $1.89 to reach $70.49 per barrel whereas WTI Crude also increased $1.52 to reach $64.57/bbl.
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