Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Industrial Investment Group (SIIG) and National Petrochemical Co. (Petrochem) received approval from their respective board of directors to start initial discussions to study the economic feasibility of a merger.
2) Salama Cooperative Insurance Co.’s accumulated losses decreased to 19.59% of the capital, equivalent to SAR 48.98 million, on June 30, 2020.
3) National Building & Marketing Co. extended the memorandums of understanding (MoUs) to acquire a 50% stake in German Saudi Industrial Co. for SAR 200 million and fully acquire Etihad Al Kharj Metal Casting Co., for three months until Dec. 7, 2020.
4) Middle East Healthcare Co.’s (Saudi German Hospital) board of directors approved the reappointment of Sobhi Abduljalil Ibrahim Batterjee as chairman for a three-year term started Sept. 17, 2020.
5) Arab Sea Information Systems Co.’s (Arab Sea) board of directors approved, on Sept. 17, the setting up of Riyadh-headquartered digital payments limited liability company.
6) Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) signed a memorandum of understanding with Janssen Pharmaceutical Co., a subsidiary of Johnson & Johnson Group, to transfer and nationalize pharmaceutical technology.
7) The Saudi Stock Exchange (Tadawul) announced that the new units of Alkhabeer REIT Fund will start trading today.
8) Musharaka REIT Fund completed the legal and regulatory procedures for the acquisition of a warehouse in Dubai.
9) Brent crude gained 9 cents to reach $43.24 per barrel, while WTI crude added 10 cents to reach $42.21/bbl on Monday morning.
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