Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) The Saudi Stock Exchange (Tadawul) approved the request of Al-Samaani Factory for Metal Industries Co. to transfer its shares from the parallel market to the main market.
2) Al Moammar Information Systems Co. (MIS) signed a Shariah-compliant credit facility agreement with Al Rajhi Bank for a total value of SAR 500 million ($133 million).
3) Raydan Food Co. signed an agreement to grant franchise rights to Tourism Dreams Park & Marsa Co., an affiliate of Hinawi Group, at a fee of $30,000 in addition to a percentage of sales.
4) Saudi Electricity Co.’s (SEC) shareholders are set to vote, on Dec. 27, on treatment of the SAR 3.35 billion dividend owed to the Saudi Arabian Oil Co. (Saudi Aramco) since SEC’s inception until 2017.
5) Al Rajhi Capital appointed Assem Raqaban as a non-independent board member in Al Rajhi REIT Fund, effective Dec. 2, 2020.
6) Anaam International Holding Group will pay SAR 65.42 million worth of refunds to the rights holders who did not subscribe to new shares on Dec. 3, 2020.
7) Brent crude on Friday gained 54 cents to reach $49.25 per barrel. WTI crude also increased 62 cents to reach $46.26/bbl.
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