Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Shareholders of Sahara Petrochemical Co. on May 16 approved the planned merger of Saudi International Petrochemical Co. (Sipchem).
2) The Saudi Stock Exchange (Tadawul) has suspended trading on shares of Sahara Petrochemical Co. as of today, May 19 ahead of stock delisting procedures.
3) Abdullah Al Othaim Markets Co. opened its first new branch in Makkah, bringing its total branches in Saudi Arabia to 223.
4) Shareholders of Saudi International Petrochemical Co. (Sipchem) have approved raising the company’s capital to SAR 7.333 billion from SAR 3.667 billion.
5) Saudi Arabian Fertilizers Co.’s (SAFCO) board of directors has recommended a 15 percent cash dividend for the first half of 2019, at SAR 1.5 per share, amounting to SAR 624.99 million.
6) SABB Takaful Co.’s board of directors has named Hussam Alkhayal as chief executive officer effective from May 19, 2019.
7) Makkah Construction and Development Co. said it will pay cash dividend for the fiscal year ended Jan. 2019 on May 22, 2019.
8) Brent crude on Monday gained 97 cents to reach $73.18/bbl, while WTI crude also increased 80 cents to $63.56/bbl.
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