Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) stc and the Public Investment Fund (PIF) increased the size of stc’s secondary public offering by 19.8 million shares from 100.2 million shares, or 5.01% of stc’s share capital to 120 million shares, or 6% of capital.
2) Saudi Arabian Oil Co. (Saudi Aramco) signed a share sale and purchase agreement with a consortium led by BlackRock Real Assets and Hassana Investment Co. to sell an equity stake in Aramco Gas Pipelines Co. for SAR 58.1 billion.
3) Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) board of directors changed, on Dec. 6, its 2015 recommendation to increase capital through a rights issue, to capital decrease followed by a rights issue.
4) Maharah Human Resources Co.’s wholly-owned subsidiary signed a sale-purchase agreement to acquire 85% stake in Arabian Shifa Medical Co.
5) Batic Investments and Logistics Co.’s shareholders approved raising the company's capital through SAR 300 million rights issue.
6) Alkhorayef Water and Power Technologies Co. (AWPT) won a contract worth SAR 31.64 million from National Water Co.
7) Al Maather REIT Fund announced an extension to the non-binding memorandum of understanding signed to acquire the Burjeel Hospital building in Sharjah, UAE.
8) Brent crude on Wednesday fell 22 cents to reach $75.22 per barrel. WTI crude lost 21 cents to reach $71.84/bbl.
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