Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Jabal Omar Development Co.’s board of directors approved the resignation of its chairman Abdulaziz Al Subaie, citing personal reasons.
2) Saudi Industrial Investment Group (SIIG) reported a net profit after zakat and tax of SAR 605 million for the fiscal year (FY) 2019, a fall of 30% year-on-year (YoY).
3) National Petrochemical Co. (Petrochem) reported a net profit after zakat and tax of SAR 673 million for FY2019, a 42.2% YoY decrease.
4) Anaam International Holding Group Co. sold 15,471 fractional shares on Jan. 8, 2020 at SAR 165.33 per share for a total of SAR 2.56 million.
5) Walaa Cooperative Insurance Co.’s shareholders approved, during the extraordinary general assembly held on Jan. 27, the merger with Metlife AIG ANB.
6) National Gas and Industrialization Co. (GASCO) approved authorizing the board of directors to distribute interim dividends to shareholders on a quarterly or biannual basis for 2020.
7) Ataa Educational Co. is planning a 5-year expansion strategy to support its business growth and increase the number students to 37,000 from 27,560.
8) Etihad Atheeb Telecommunication Co. (GO) appointed Saudi Kuwaiti Finance House (SKFH) as a financial advisor to manage its capital cut.
9) Alandalus Property Co.’s Sulaiman Al-Habib hospital in Jeddah is expected to be complete by Q2 2023 and will launch operations in Q3 of the same year.
10) Brent crude on Wednesday gained 27 cents to reach $59.59 per barrel whereas WTI Crude increased 20 cents to reach $53.34/bbl.
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