Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Middle East Paper Co. (MEPCO) renewed a Shariah-compliant bank facility agreement with Saudi National Bank (SNB), while reducing the value of the facilities to SAR 140 million from SAR 169 million.
2) Walaa Cooperative Insurance Co. (Walaa) signed an estimated SAR 27 million worth of insurance coverage agreement with Arab National Bank (ANB).
3) Saudi National Bank's board of directors approved the appointment of Ammar Abdul Wahid Al Khudairy as chairman of the board of directors.
4) Saudi Arabian Cooperative Insurance Co.’s (SAICO) shareholders approved board of directors’ recommendation to withhold dividend for 2020.
5) Saudi Pharmaceutical Industries and Medical Appliances Corp.’s (SPIMACO) shareholders approved the board recommendation to distribute a 10% cash dividend for 2020, at SAR 1 per share.
6) Methanol Chemicals Co. (Chemanol) issued prospectus for its SAR 480 million rights issue through offering 48 million shares.
7) Brent crude on Tuesday gained 94 cents to reach $70.26 per barrel. WTI crude also increased $1.35 to reach $67.67/bbl.
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