Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) The Saudi Stock Exchange (Tadawul) approved the listing request of the Saudi government-issued debt instruments from a class already listed, submitted by the Ministry of Finance as per the listing rules with a total value of SAR 1.25 billion.
2) National Shipping Co. of Saudi Arabia (Bahri) board of directors recommended a 10% cash dividend for the first half of 2020, at SAR 1 per share, amounting to SAR 393.75 million.
3) The Capital Market Authority (CMA) approved a request from National Building and Marketing Co. to raise its capital to SAR 120 million from SAR 60 million through the issuance of one bonus share for every one share held.
4) Saudi Ground Services Co. signed a memorandum of understanding (MoU) with Al Salem Johnson Controls to develop technical solutions for sterilizing airports and airplanes in the Kingdom.
5) Shareholders of Mobile Telecommunication Company Saudi Arabia (Zain KSA) will vote, on Oct. 14, on the board of directors’ recommendation to increase capital from SAR 4.48 billion to SAR 8.98 billion through offering 450 million ordinary shares.
6) Al Hassan Ghazi Ibrahim Shaker Co. renewed the exclusive agency for LG air conditioners across the Kingdom.
7) Shareholders of Salama Cooperative Insurance Co. are set to vote, on Oct. 12, on financial statements and audit report for the fiscal year 2018.
8) Saudi Fisheries Co.’s (Alasmak) shareholders will elect a new board of directors during the ordinary general meeting (OGM) slated for Oct. 20, 2020.
9) Brent crude on Tuesday gained 17 cents to reach $41.61 per barrel. WTI crude also increased 19 cents to reach $39.50/bbl.
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