Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi Cable Co.’s rights issue was 57.76% subscribed, as investors pumped SAR 144.4 million into 14.44 million shares.
2) The National Shipping Co. of Saudi Arabia (Bahri) recommended a 10% cash dividend for the second half of 2019, at SAR 1 per share, amounting to SAR 393.75 million.
3) Tihama Advertising & Public Relations Co. (Tihama) managed to reduce liabilities from SAR 130 million to around SAR 12 million following the company’s restructuring.
4) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) elected, during the general assembly meeting held on Jan. 17, the board members for the new 3-year term, starting Jan. 19, 2020.
5) Bahri received an approval letter from the Ministry of Interior to extend the contract for transportation and shipping services for 1 year.
6) Aljazira Takaful Taawuni Company and Solidarity Saudi Takaful Co. signed a modified non-binding memorandum of understanding (MoU) to evaluate the feasibility of a merger.
7) Chubb Arabia Cooperative Insurance Co. signed a SAR 14.8 million contract with Khair Inorganic Chemical Industries Co. (Inochem) to provide insurance services for the construction of a soda ash and calcium chloride production complex at Ras Al-Khair Industrial City.
8) Brent crude on Tuesday declined 33 cents to reach $64.87 per barrel whereas WTI Crude decreased 15 cents to reach $58.39/bbl.
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