Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Aramco discovered four new oil and gas fields in the Kingdom, said Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz.
2) Sahara International Petrochemical Co.’s (Sipchem) subsidiary International Polymers Company (IPC) signed a SAR 700 million Murabaha facility agreement with Riyad Bank to refinance the existing syndicated bank facility and loan from the Public Investment Fund.
3) Ayyan Investment Co. appointed Aljazira Capital as a financial advisor for acquiring stakes held by non-controlling shareholders in its 69.9%-owned subsidiary Al Ahsa Medical Services Co.
4) Aseer Trading, Tourism & Manufacturing Co. (Aseer) said the court order, issued on Nov. 8, 2020, in its favor against the seller of land in the north of Riyadh became final and enforceable following the expiry of the objection period.
5) Saudi Paper Manufacturing Co. (SPM) announced rights issue was 94.04% subscribed.
6) Lazurde Co. for Jewelry on Dec. 24, 2020, submitted request to increase capital through a rights issue to the Capital Market Authority.
7) Al-Baha Investment and Development Co. said that its lawsuit against Al Sateaa Modern Construction Co. was returned to the court of appeal, and hearing will take place on Jan. 18, 2021.
8) Saudi Arabian Amiantit Co. announced the rump offering results and the final allocation of its rights issue shares, with a coverage ratio of 602.8%.
9) Oil prices fell on Monday morning, with Brent crude trading 20 cents lower at $51.09 per barrel and WTI edging down 15 cents to $48.08/bbl.
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