Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Arabian Pipes Co. (APC) has won a contract worth over SAR 49 million to supply state-owned Saudi Aramco with OCTG steel pipes.
2) The National Shipping Co.’s of Saudi Arabia (Bahri) board of directors has recommended a 15 percent cash dividend for the fiscal year 2018, at SAR 1.5 per share, amounting to SAR 590.63 million.
3) Saudi Advanced Industries Co. (SAIC) has inked a memorandum of understanding (MoU) with Saudi Arabian Military Industries Company (SAMI) to sell a 10 percent stake in Alsalam Aerospace for SAR 100 million.
4) Thob Al Aseel Co. shareholders approved a 10 percent cash dividend for the first half of 2018, at SAR 1 per share, amounting to SAR 30 million.
5) Saudi Arabia’s Capital Market Authority (CMA) has imposed a fine of SAR 20,000 each on Al Alamiya Cooperative Insurance Co,. Saudi Arabian Amiantit Co., Saudi Cable Co. and Arabian Pipes Co. for violating corporate disclosure rules.
6) Saudi International Petrochemical Co. (Sipchem) acquired National Power Company's 25 percent stake in International Gases Company (IGC), an affiliate of Sipchem.
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