Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) The Capital Market Authority (CMA) is set to give final approval on the planned merger of Saudi International Petrochemical Co. (Sipchem) and Sahara Petrochemical Co. by the end of February 2019, Sipchem’s CEO Ahmad Al-Ohali said.
2) Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO), on Jan.10, 2019, will vote on dismissing board directors and the audit committee members.
3) Jarir Marketing Co., which operates Jarir Bookstores, opened a new showroom in the Al-Kharj governorate at a total cost of SAR 24 million.
4) Moody's Investors Service has assigned an A3 insurance financial strength rating (IFSR) and a stable outlook to Walaa Cooperative Insurance Co.
5) The Securities Depository Center (Edaa) implemented an increase in the amount of Bupa Arabia Cooperative Insurance Company’s securities for eligible shareholders.
6) The planned merger between Tronox and Cristal is expected to be complete by early 2019, Mutlaq Al-Morished, chief executive of National Industrialization Co. (Tasnee), said.
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