Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Abdullah A. M. Al-Khodari Sons Co. has inked a SAR 115 million Shariah-compliant financing agreement with Abdullah A. M. Al Khodari Sons Investment Holding Co.
2) Tabuk Agricultural Development Co. has signed a terms document with partners at Astra Food Co. to fully acquire Astra’s agricultural business and related transport activities.
3) Saudi Airlines Catering Co. has relocated its headquarters to Al Mohammadiah 5 neighborhood in Jeddah.
4) National Commercial Bank’s (NCB) shareholders approved the contracts to be concluded with The Company for Cooperative Insurance (Tawuniya) for one year.
5) The Capital Market Authority’s board has issued a resolution approving rules for Special Purposes Entities and the Special Purposes Entity bylaws, the regulator said in a statement. The Authority has also issued a resolution approving the Rules of Offering Securities and Continuing Obligations.
6) Advanced Metal Industries Co. (AMIC), which is equally owned by Tasnee and Cristal, has postponed the trial run and commercial startup of its titanium sponge project to the second half of 2018, due to delays in the construction of the raw material unit (titanium tetrachloride), Tasnee said in a bourse statement on Sunday.
7) Al Sorayai Trading and Industrial Group Co.’s extraordinary general assembly approved a 40 percent capital reduction to SAR 225 million from SAR 375 million, to offset accumulated losses, the company said in a statement on Tadawul on Sunday.
8) City Cement Company’s board of directors has appointed Prince Abdulaziz Bin Mishaal Al-Saud as chairman effective Dec. 28, 2017, until the end of the current term on June 18, 2019, the company said in a bourse statement.
9) Methanol Chemicals Company’s (Chemanol) ordinary general assembly on December 28 refused to approve the updated regulations of the nominations and remuneration committee, the firm said in a statement to Tadawul.
10) Arabian Industrial Fibers Company’s (Ibn Rushd), a subsidiary of SABIC, shareholders approved a capital reduction to SAR 2 billion from SAR 8.51 billion to offset accumulated losses, the Saudi Industrial Development Co. (SIDC), which is a shareholder in Ibn Rushd, said in a statement to Tadawul.
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