Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) SABIC Agri-Nutrients Co. signed a binding agreement to acquire a 49% stake in ETG Inputs Holdco Ltd. for an enterprise value of $320 million (SAR 1.2 billion).
2) Arabian Centres Co.’s board of directors declared a 7.5% cash dividend, or SAR 0.75 per share, for the first half of fiscal year (FY) 2021/22 ended Sept. 30, 2021.
3) Etihad Atheeb Telecommunication Co.’s (GO) shareholders approved the board's recommendation on decreasing capital by 60.62%, from SAR 228.53 million to SAR 89.99 million.
4) National Glass Industries Co. (Zoujaj) signed a memorandum of understanding (MoU) with Saudi Investment Recycling Co. (SIRC) for establishing a joint venture (JV) for glass waste recycling.
5) Methanol Chemicals Co. (Chemanol) signed an agreement for preliminary engineering design for the methanol plant expansion with the company that owns the technology for the existing plant.
6) Saudi Fransi Capital announced the distribution of cash dividend to Taleem REIT Fund unit holders for the period from Oct. 1, 2021 to Dec. 31, 2021, at SAR 0.12 per unit, or 1.2% of the initial price per unit.
7) Saudi Public Transport Co. (SAPTCO) signed a public transport contract in Madinah with the Madinah Region Development Authority (MRDA) at a total value of SAR 57.5 million, including a 15% value-added tax (VAT).
8) Brent crude on Tuesday gained 59 cents to reach $86.86 per barrel. WTI crude also increased 42 cents to reach $83.73/bbl.
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