Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Lazurde Company for Jewelry's shareholders are set to vote on June 2, 2021, on the board's recommendation on increasing capital from SAR 430 million to SAR 575 million through offering 14.5 million rights issue shares.
2) Methanol Chemicals Co.’s (Chemanol) shareholders are set to vote on June 28, 2021, on a 44% capital cut to SAR 674.51 million from SAR 1.21 billion to restructure the company’s capital and offset accumulated losses.
3) The Capital Market Authority (CMA) approved Chubb Arabia Cooperative Insurance Co.’s (Chubb Arabia) request on increasing its capital from SAR 200 million to SAR 300 million through the issue of one bonus share for two shares held.
4) Alinma Tokio Marine Co. received the Saudi Central Bank's (SAMA) approval on renewing the company’s insurance license for three years, starting June 23, 2021.
5) Allied Cooperative Insurance Group's (ACIG) board of directors approved the resignation of Hesham Mohammed Al Shareef as CEO and executive board member, effective Aug. 31, 2021.
6) Saudi Advanced Industries Co.’s (SAIC) shareholders will vote on June 23, 2021, on the board’s recommendation on paying a 2.5% cash dividend, or SAR 0.25 a share, totaling SAR 12.5 million for H2 2020.
7) Brent crude on Wednesday gained 21 cents to reach $70.46 per barrel. WTI crude also increased 19 cents to reach $67.91/bbl.
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