Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Al Rajhi Bank obtained the approval of the Saudi Central Bank (SAMA) and no-objection from the General Authority for Competition (GAC) on the economic concentration transaction through the acquisition of the entire shares of Ejada Systems Ltd.
2) Arabian Shield Cooperative Insurance Co. announced that the consideration shares issued to AlAhli Takaful Co.'s (ATC) entitled shareholders pursuant to the merger were listed.
3) Alujain Holding Corp. announced that the propylene and polypropylene complex of its subsidiary National Petrochemical Industrial Co. (NATPET) will shut down for scheduled maintenance.
4) Knowledge Economic City (KEC) awarded a SAR 48.88 million construction contract to Mohammed Al-Rashed Trading and Contracting Co. to build a bus station with retail shops on its land adjacent to the train station within the Madinah Gate project.
5) The board of directors of BinDawood Holding Co. approved the establishment of a 100%-owned subsidiary (as a limited liability company) with its head office in Jeddah and capital of SAR 5 million.
6) Brent crude on Monday gained 16 cents to reach $86.22 per barrel. WTI crude also increased 41 cents to reach $84.23/bbl.
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