Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Aljazira Capital, lead manager of Alkhabeer Diversified Income Traded Fund, announced the successful completion of the fund's initial public offering, with the fund attracting net subscription value of $126.08 million from more than 89,000 subscribers.
2) Arabian Centres Co.’s board of directors recommended a 5 percent cash dividend, or $1.33 per share, for H1 of 2020/21 ended Sept. 30, 2020, totaling $63.333 million.
3) The Company for Cooperative Insurance (Tawuniya) renewed its health insurance services contract with Tahakom Investment Co. and its subsidiaries for another year.
4) Yanbu National Petrochemical Co.’s (Yansab) shareholders approved amending articles of association during the extraordinary general meeting held on Dec. 29, 2020.
5) Ash-Sharqiyah Development Co.’s board of directors recommends capital hike through a rights issue of $60 million.
6) Middle East Healthcare Co. (Saudi German Hospital) said its independent board members recommended awarding the contract for digital transformation of the company's hospitals to Megamind IT Solutions Co.
7) Saudi Automotive Services Co. (SASCO) signed an agreement to renew and reschedule an existing $143.014 million Shariah-compliant facility with Riyad Bank.
8) Saudi Arabian Mining Co. (Maaden) renewed its agreement with Bangladesh Agricultural Development Corporation to supply phosphate fertilizers in 2021.
9) Gulf Union Cooperative Insurance Co. amended its name to Gulf Union Alahlia Cooperative Insurance Co., following its merger with Al-Ahlia for Cooperative Insurance Co. and after obtaining required regulatory approvals.
10) Brent crude on Thursday rose 25 cents to reach $51.34 per barrel. WTI crude decreased 17 cents to reach $48.23/bbl.
