Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) BATIC Investment and Logistics Co.’s board of directors recommended SAR 0.25 per share cash dividend for Q1-2017.
2) Saudi Stock Exchange (Tadawul) has delisted Sanad Cooperative Insurance Co.’s shares, as of end Thursday, May 11, 2017.
3) Nama Chemicals Co.’s shareholders approved an 81.7 percent capital cut to SAR 235.2 million through cancelling 105 million shares. The fluctuation limits on Thursday for the insurer will be based on a share price of SAR 20.87.
4) Yanbu National Petrochemical Co. said it has completed the scheduled maintenance at its ethylene glycol plant and has resumed operations on Thursday, May 11.
5) Al Ahsa Development Co.’s accumulated losses reached SAR 2.9 million representing 0.6 percent of capital as of March 31, 2017.
6) Abdullah A. M. Al-Khodari Sons Company has appointed Ali Abdullah Al Khodari as chairman of the board of directors for the new three-year term started on May 11, 2017.
7) Ash-Sharqiyah Development Co.’s accumulated losses were offset in full on realizing additional retained earnings of SAR 154.14 million due to implementing the IFRS.
8) Saudi Electricity Company (SEC) is in talks with banks for a $1 billion loan, as it has sent out a request for proposals for a five-year bullet loan, Reuters reported citing sources familiar with the matter.
9) Oil settled slightly higher last week, with Brent crude up 0.1 percent at $50.84/bbl and WTI crude slightly higher at $47.84/bbl.
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