Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi Advanced Industries Co. (SAIC) announced that the board of directors of its 31.62%-owned associate company, Deutsche Gulf Finance Co., recommended the distribution of cash dividend at SAR 0.5 per share for 2020.
2) Bank Albilad completed the issuance of a domestic SAR-denominated Tier-2 sukuk, worth SAR 3 billion, through private placement.
3) BATIC Investment and Logistics Co.’s board of directors recommended increasing the company’s capital through rights issue of SAR 300 million.
4) Saudi Real Estate Co. (Al Akaria) said that work is underway to finalize all the required procedures to terminate and liquidate Alinma-Al Akaria Fund for Real Estate Development, expected to be complete within two months.
5) Saudi Steel Pipe Co.’s wholly owned subsidiary, Titanium Steel and Manufacturing Co. Ltd., inked a definitive asset purchase agreement with Koch Chemical Technology Group Saudi Arabia Limited to sell its core operating assets.
6) Saudi Industrial Investment Group (SIIG) and National Petrochemical Co. (Petrochem) decided to commence reciprocal due diligence on merger following the completion of the initial economic feasibility study.
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