Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Savola Group, Saudi Arabia's largest food products company, will start offering from today (June 19, 2019) the first issuance of its riyal-denominated sukuk program at a par value of SAR 1 million in a private placement.
2) Al Kathiri Holding Co.’s wholly owned subsidiary, Alian Industrial Co., received on Monday the Saudi Industrial Development Fund’s (SIDF) initial approval on a SAR 23.2 million credit facility to finance the firm’s building materials factory.
3) The Saudi Stock Exchange (Tadawul) delisted Alawwal Bank shares as of Monday, June 17, the bourse said.
4) Maharah Human Resources Co. debuted on Tadawul on Tuesday in the commercial and professional services sector under symbol 1831.
5) Tadawul suspended trading on shares of the National Agricultural Marketing Co. (Thimar) starting Tuesday, June 18, until it announces its fiscal results for the year ending March 31.
6) Saudi Real Estate Co.’s (Al Akaria) general assembly has approved a board recommendation to hold off on issuing a cash dividend for fiscal year 2018.
7) Al Gassim Investment Holding Co.’s (QACO) board of directors has recommended a capital hike through a SAR 100 million rights issue.
8) Walaa Cooperative Insurance Co. has inked a non-binding memorandum of understanding (MoU) with MetLife AIG ANB Cooperative Insurance Co. to evaluate a potential merger between both companies.
9) Brent crude on Wednesday gained 11 cents to reach $62.25/bbl, while WTI crude also increased 17 cents to reach $54.07/bbl.
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