Here are a few things you need to know as Saudi stocks start trading on Monday.
1) National Commercial Bank (NCB) entered into a legally binding merger agreement with Samba Financial Group (Samba).
2) Jarir Marketing Co. reported a net profit after Zakat and tax of SAR 715.3 million for the first nine months of 2020, a marginal rise of 1% year-on-year (YoY).
3) United Electronics Co. (eXtra) reported a net profit after Zakat and tax of SAR 178.5 million for 9M 2020, a 33.6% YoY increase.
4) Methanol Chemicals Co.’s (Chemanol) board of directors recommended a 27.3% capital cut from SAR 1.2 billion to SAR 876.96 million through writing off 32.9 million shares.
5) Al Moammar Information Systems Co. (MIS) received a notification from the board of directors of its 50%-owned subsidiary, Edarat Telecommunications and Information Technology, about taking necessary measures to list shares on Nomu-Parallel Market.
6) MEFIC REIT Fund reported net losses of SAR 18.58 million (SAR 0.25/unit) for 9M 2020.
7) Lazurde Company for Jewelry’s board of directors recommended a capital increase through a SAR 143.33 million rights issue.
8) The Appeal Committee for Resolution of Securities Disputes (ACRSD) convicted a number of Etihad Etisalat Co.’s (Mobily) former executives of violating the Capital Market Law.
9) The Saudi Stock Exchange (Tadawul) announced the beginning of the subscription period and tradable rights trading for Al Kathiri Holding Co. from today, Oct. 12, 2020.
10) Brent crude on Monday declined 41 cents to reach $42.44 per barrel. WTI crude also decreased 37 cents to reach $40.23/bbl.
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