Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Taiba Investments Co.’s board of directors recommended a special dividend at 40% of capital for the fiscal year 2021 on the partial sale of the company’s stake in SABIC Agri-Nutrients Co.
2) Almarai Co. announced the completion of procedures for acquiring the assets owned by Binghatti Beverages Manufacturing LLC (BBM) in the UAE for AED 215 million.
3) Saudi Steel Pipe Co. (SSP) announced that it secured orders worth SAR 189.9 million for the supply of oil and gas steel pipes to Saudi Aramco.
4) The board of directors of Zahrat Al Waha for Trading Co. approved to increase the company's capital by 50%, through 1-for-2 bonus share distribution, as well as a cash dividend at 15% of capital (SAR 1.5 per share) for 2021.
5) Arabian Contracting Services Co. (Al Arabia) reported a net profit of SAR 135.7 million (SAR 2.71 a share) for the first nine months of 2021, against a loss of SAR 21.4 million a year earlier.
6) Mediterranean and Gulf Cooperative Insurance and Reinsurance Co.’s (MEDGULF) subscription to new shares and rights trading began on Nov. 15, to increase capital from SAR 700 million to SAR 1.05 billion.
7) Saudi Basic Industries Corp. (SABIC) announced the initial startup activities at ethylene glycol plant (3).
8) Alkhaleej Training and Education Co.’s rights trading period ended on Nov. 15, to increase capital from SAR 450 million to SAR 650 million.
9) Tihama Advertising and Public Relations Co.’s subsidiary, Integrated Production Company for Audiovisual Media Production, inked a SAR 6.9 million contract with AlSadaf Company for TV Series Production to produce a TV series.
10) Brent crude on Tuesday gained 79 cents to reach $82.84 per barrel. WTI crude also increased 64 cents to reach $81.5/bbl.
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