Here are a few things you need to know as Saudi stocks start trading on Thursday.
1- Savola Group reported net profit after Zakat and tax of SAR 910.8 million for fiscal year 2020, rising 92% year-on-year (YoY).
2- Savola Group's board of directors recommended 7.5% cash dividend, or SAR 0.75 per share, for the fiscal year 2020.
3- Saudi Industrial Services Co. (SISCO) signs separate sale and purchase agreements with Public Investment Fund (PIF) and COSCO SHIPPING Ports Ltd. to acquire SISCO’s 21.2% direct equity stake in its subsidiary Red Sea Gateway Terminal Ltd.
4- Saudi Arabian Oil Co. (Saudi Aramco) received on Jan. 21, 2021, from the US District Court in Texas a notice of appeal, where the heirs of Khalid Abu Al-Waleed Al-Hood Al-Qarqani appealed the trial court’s previous decision on dismissing the claim to the US Court of Appeals for the Fifth Circuit.
5 The Saudi General Authority for Competition (GAC) approved the planned merger between National Commercial Bank (NCB) and Samba Financial Group.
6- Aljazira Takaful Taawuni Co.’ shareholders approved the merger with Solidarity Saudi Takaful Co. through capital increase.
7- Solidarity Saudi Takaful Co.’s shareholders approved the offer submitted by Aljazira Takaful Taawuni Co. for the purpose of merger.
8- Saudi Printing and Packaging Co. said its wholly-owned subsidiaries in the UAE, Emirates National Factory for Plastic Ind LLC, signed a Shariah-compliant bank facility agreement with Commercial Bank of Dubai for AED 475 million (SAR 485.11 million).
9- Brent crude on Thursday declined 28 cents to reach $55.53 per barrel. WTI crude fell 22 cents to reach $52.63/bbl.