Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) South Korea’s Daelim Industrial Co Ltd expects to complete the construction of the third ammonia production plant for Saudi Arabian Mining Co. (Maaden) in Ras Al-Khair by the second half of 2021.
2) The Capital Market Authority (CMA) imposed a fine of SAR 1 million on the chairman and board members of National Agricultural Marketing Co. (Thimar) from Jan. 1, 2019 to May 13, 2020.
3) Kingdom Holding Co. announced that the memorandum of understanding (MoU) signed between its subsidiary, Kingdom Investment and Development Co. and Ataa Educational Co. expired without reaching an agreement.
4) The Capital Market Authority (CMA) approved Anaam International Holding Group's request to increase capital through a SAR 90 million rights issue.
5) The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) said that the court of appeal in Riyadh canceled a previous ruling by the commercial court against the company’s former CEO and MD due to lack of jurisdiction.
6) Mobile Telecommunication Company Saudi Arabia (Zain KSA) issued prospectus for its SAR 4.5 billion rights issue.
7) Brent crude on Thursday declined 42 cents to reach $41.35 per barrel. WTI Crude also decreased 52 cents to reach $39.41/bbl.