Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi Aramco’s board of directors approved the issuance of senior, dollar-denominated bonds, unsecured by assets under its Global Medium-Term Note (GMTN) Program.
2) Dallah Healthcare Co. and Kingdom Holding Co. completed the sale and purchase of shares in Care Shield Holding Co. (CSHC).
3) Saudi Electricity Co. (SEC) received a letter from the Minister of Energy and the Chairman of the ministerial committee for the restructuring of the electricity sector, approving the cancellation of government fees, as of Jan. 1, 2021.
4) Saudi Enaya Cooperative Insurance Co. signed a non-binding memorandum of understanding (MOU) with Amana Cooperative Insurance Co. to evaluate a potential merger between the two companies.
5) BinDawood Holding Co. will pay cash dividend for the second and third quarters of 2020, as of Monday, Nov. 30.
6) The Red Sea Development Co. awarded its highest-value contract to date to a consortium led by ACWA Power to design, build, operate and transfer The Red Sea Project’s utilities infrastructure.
7) Lazurde Co. for Jewelry announced a revised strategy to grow and expand into selling gold jewelry by piece, at affordable prices, through its new brands and collections in Saudi Arabia and Egypt.
8) Bawan Co.’s 85.5%-owned subsidiary, United Technology of Electric Substations and Switchgears Co., signed a contract with SEC to supply electrical unit substations to the utility provider.
9) Brent crude on Tuesday gained 28 cents to reach $44.10 per barrel. WTI crude also increased 21 cents to reach $41.55/bbl.