Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi Enaya Cooperative Insurance Co. and Amana Cooperative Insurance Co. announced that their boards of directors have approved to evaluate a potential merger.
2) Al Sagr Cooperative Insurance Co.’s shareholders will vote, on Oct. 27, on using a statutory reserve balance of SAR 47.34 million to partially offset the company’s accumulated losses.
3) The Capital Market Authority (CMA) approved a request from Saudi Arabian Fertilizer Co. (SAFCO) to increase its capital from SAR 4.17 billion to SAR 4.76 billion through issuing 59.4 million ordinary shares.
4) Mobile Telecommunication Company Saudi Arabia (Zain KSA) started, on Oct. 5, electronic voting for the first meeting of its extraordinary general assembly meeting (EGM), to be held on Oct. 14, 2020.
5) Brent crude on Tuesday gained 20 cents to reach $41.49 per barrel. WTI crude also increased 15 cents to reach $39.37/bbl.
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