Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Mobile Telecommunications Company Saudi Arabia (Zain Saudi) has inked a memorandum of understanding (MoU) with Saudi Telecom Co. (STC) to extend fiber to the home (FTTH) broadband services to households across the Kingdom.
2) The Saudi Stock Exchange (Tadawul) yesterday lifted the trading suspension placed on shares of National Agricultural Marketing Co. (Thimar).
3) Shares of Riyad Bank hit their highest level in 52 weeks on Tuesday, data compiled by Argaam showed.
4) Bawan Co.’s shareholders have approved the proposed acquisition deal of Al Fozan Holding Co.’s stake at Arnon Plastic Industries Co. for a value of SAR 191 million.
5) Kingdom Holding Co. saw a negotiated deal on its stock yesterday, where 129,267 shares were privately traded at a negotiated price of SAR 8.20 per share against an official price of SAR 7.67.
6) Saudi Electricity Co. (SEC) inked a SAR 2.4 billion worth of a Murabaha loan facility agreement with SAMBA Financial Group (SAMBA).
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