Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Mouwasat Medical Services Co.’s extraordinary general assembly approved a 100 percent capital hike to SAR 1 billion from SAR 500 million through the issue of one bonus share for every share held.
2) Sahara Petrochemicals Co. (Sahara) and Saudi International Petrochemical Co. (Sipchem) denied media reports speculating the terms and structure of a potential merger.
3) Saudi Arabian Mining Company (Maaden) said Khalid bin Saleh Al-Mudaifer resigned as company president and chief executive officer following his appointment as deputy minister of energy, industry and mineral resources for mining affairs.
4) Buruj Cooperative Insurance Co.’s board of directors recommended a 20 percent capital hike to SAR 300 million from SAR 250 million through the issue of one bonus share for every five share held.
5) Bupa Arabia For Cooperative Insurance Co.’s general assembly approved a 20 percent cash dividend for the fiscal year 2017, at SAR 2 per share, amounting to SAR 160 million.
6) The global index compiler MSCI will announce a decision on the potential upgrade of Saudi Arabia to an emerging market status on June 20, as part of its 2018 Annual Market Classification Review.
7) Saudi Arabia's trade balance recorded a surplus of SAR 42.69 billion in March, compared to a surplus of SAR 29.77 billion in the same month last year, according to the General Authority for Statistics.
8) Factories under construction in Saudi Arabia amounted to 1,006 factories by the end of the Q1 2018, with a total capital reaching SAR 41.9 billion, data issued by the Ministry of Energy, Industry and Mineral Resources showed.
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