Tadawul trading screen
Here are a few things you need to know as Saudi stocks start trading on Monday.
1) The Capital Market Authority (CMA) approved The Saudi Investment Bank’s (SAIB) request to increase capital from SAR 7.5 billion to SAR 10 billion through the issue of one bonus share for every three shares held.
2) Advanced Petrochemical Co. reported an estimated annual net profit after Zakat and tax of SAR 815 million for 2021.
3) SABB Takaful Co. and Walaa Cooperative Insurance Co. extended the memorandum of understanding (MoU) for 45 days until Feb. 24, 2022, to finalize the due diligence process.
4) Saudi National Bank (formerly, National Commercial Bank) completed its merger with Samba Financial Group, on Jan. 6, with all merger roadmap phases.
5) AlAhli Takaful Co. announced the creditors' objection period on the merger with Arabian Shield Cooperative Insurance Co. will expire on Jan. 11.
6) Tihama Advertising and Public Relations Co. signed an agreement to extend the period of completing the legal ownership transfer and other regulatory approvals for the merger of J Walter Thompson MENA with Wunderman MENA to create Wunderman Thompson MENA EC to June 30, 2022.
7) Maharah Human Resources Co.’s wholly-owned subsidiary, Growth Avenue Investment Co. (GAG), received a non-objection letter from the General Authority for Competition (GAC) on completing the acquisition of Arabian Shifa Medical Co.
8) Brent crude on Monday gained 26 cents to reach $82.01 per barrel. WTI crude also increased 22 cents to reach $79.1/bbl.
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