Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Swiss specialty chemicals producer Clariant AG plans to provide an update on its partnership with Saudi Basic Industries Corp (SABIC) in September, Reuters reported, citing chief executive Hariolf Kottmann.
2) Middle East Healthcare Co. has awarded a construction contract for the outpatient tower and inpatient beds expansion in Saudi German Hospital Riyadh to International Hospital Construction Company for SAR 193.66 million.
3) SEDCO Capital REIT’s initial public offering on Tadawul was 101 percent oversubscribed, raising SAR 606 million, fund manager Saudi Economic and Development Securities Co. (SEDCO Capital) told Argaam.
4) Advanced Petrochemical Co.’s board of directors has recommended a 7 percent cash dividend for the first quarter of 2018, at SAR 0.7 per share, amounting to SAR 137.8 million.
Separately, the firm said its general assembly has approved a 7 percent cash dividend for Q4 2017, at SAR 0.70 per share, amounting to SAR 137.8 million.
5) Alinma Tokio Marine Co.’s technical reserves will increase by SAR 490,000 following an updated valuation report from the appointed actuary.
6) Salama Cooperative Insurance Company's (Salama) technical reserves will increase by SAR 2.25 million following an updated valuation report from the appointed actuary.
7) Osool & Bakheet Capital said that Al Ma’athar REIT will pay cash dividend for nearly 5 months ended Dec. 31, 2017, within 20 days from March 20, 2018.
8) Crude oil prices edged higher on Tuesday, with Brent crude last up 0.3 percent at $66.27/bbl while WTI crude rose 0.3 percent to $62.26/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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