Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi Paper Manufacturing Co. (SPM) turned to a net profit after Zakat and tax of SAR 15.1 million for 2020.
2) Shareholders of National Commercial Bank (NCB) and Samba Financial Group (Samba) approved the historic merger to create a new Saudi banking champion and a regional powerhouse.
3) Banque Saudi Fransi’s board of directors recommended a 4% cash dividend for 2020, at SAR 0.40 per share, amounting to SAR 479.98 million.
4) Dar Al-Arkan Real Estate Development Co. announced the launch of “Dar Al Mashaer” project in Makkah.
5) The Saudi Stock Exchange (Tadawul) announced the delisting of Solidarity Saudi Takaful Co. (Solidarity) shares, as of March 1, 2021.
6) Fitaihi Holding Group completed the sale of its 9% stake in Al-Jouf Agricultural Development Co. by the end of trading on March 2, 2021.
7) The Capital Market Authority (CMA) referred several alleged violations by the chairman and board members of National Agricultural Marketing Co. (Thimar), based on its inspection and review of the company's accounts, to the Public Prosecution.
8) Brent crude on Wednesday gained 30 cents to reach $63.00 per barrel. WTI crude also decreased 19 cents to reach $59.94/bbl.