Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) The Capital Market Authority (CMA) approved Jarir Marketing Company’s request to increase capital from SAR 900 million to SAR 1.2 billion.
2) Saudi Steel Pipe Co. extended a non-binding MoU with a strategic investor over the latter’s potential acquisition of a minority stake in the company for a month until Sept.30.
3) The Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) posted the prospectus of its SAR 400 million rights issue.
4) The total trading facilities granted by brokerage firms to clients on the Tadawul rose 29 percent to SAR 9.74 billion in Q2 2018, compared to SAR 7.56 billion in the year-ago period, the CMA said.
5) Saudi Fisheries Co. (Alasmak) appointed Falcom Financial Services to advise on its capital reduction.
6) Global oil demand will remain positive, driven by urbanization in non-OECD regions and higher demand as feedstock for the chemical sector, said Nasir Al Naimi, vice president of Petroleum Engineering & Development, Saudi Aramco.
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