Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Anaam International Holding Group signed a non-binding memorandum of understanding (MoU) to acquire 55% of ARW Industry Co., at an initial purchase amount of SAR 23.5 million.
2) Saudi Industrial Export Co.’s (SIECO) board of directors amended its previous proposal of a capital increase via a rights issue to a capital cut, to be followed with a capital increase.
3) Arabian Cement Co. (ACC) is expected to start commercial operations at Rabigh clinker line in the fourth quarter of 2022, instead of Q4 2021.
4) Anaam International Holding Group announced that, due to the change that occurred in some of the main terms of the sale of Al Jouf project land, it was agreed to amend the amount of the third payment amounting to SAR 15 million.
5) SICO Capital, the fund manager of SICO Saudi REIT Fund, received a notice from Eskan Development and Investment Co., in its capacity as the tenant of one the fund's properties, in which it expressed intent not to renew the lease contract.
6) Saudi Economic and Development Securities Co. (SEDCO Capital) distributes cash dividends to the unitholders of SEDCO Capital REIT Fund at 1.63% (SAR 0.163 per unit) for the period from Oct. 1 to Dec. 31 2021.
7) Brent crude on Tuesday gained 21 cents to reach $78.81 per barrel. WTI crude also increased 30 cents to reach $75.87/bbl.
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