Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Al Moammar Information Systems Co. reported a net profit after Zakat and tax of SAR 75.97 million for the fiscal year (FY) 2019, an increase of 17.7% year-on-year (YoY).
2) Al Gassim Investment Holding Co. (GACO) elected a new board of directors for the next 3-year term starting Feb. 22, 2020.
3) Dur Hospitality Co. recommended a 5% cash dividend for FY2019, at SAR 0.5 per share, amounting to SAR 50 million.
4) Riyad Bank completed the first offering of its international Tier 2 dollar-denominated sukuk worth $1.5 billion (SAR 5.6 billion).
5) AlAhli Takaful Co. and Chubb Arabia Cooperative Insurance Co. approved entering into preliminary discussions to study the possibility of a merger.
6) Saudi Paper Manufacturing Co. (SPM) terminated the services of the board chairman, Fahad bin Mohammed AlDawood, for violating the rules.
7) Dr. Sulaiman Al Habib Medical Group (HMG) completed the book-building process for its initial public offering (IPO) on Feb. 19.
8) Brent crude on Thursday gained 7 cents to reach $59.19 per barrel. WTI Crude also increased 18 cents to reach $53.47/bbl.
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