Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1. SABIC Agri-Nutrients Co. completed the procedures to acquire the entire share capital of SABIC Agri-Nutrients Investment Co. (SANIC), owned by Saudi Basic Industries Corp (SABIC).
2. Al Moammar Information Systems Co.'s (MIS) board of directors recommended a 25 percent capital increase to SAR 250 million through issuing one bonus share for every 4 shares held.
3. Middle East Paper Co. (MEPCO) signed a Shariah-compliant credit facility agreement worth SAR 340 million with Bank Albilad.
4. Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) board of directors approved the resignation of chief executive officer (CEO), Abdulaziz Al Sedeas, submitted on Dec. 23, 2020.
5. Solidarity Saudi Takaful Co.’s shareholders will vote, on Jan. 26, 2021, on the merger offer by Aljazira Takaful Taawuni Co., in accordance with the provisions of the articles from 190 to 193 of the Companies Law.
6. Saudi Airlines Catering Co. signed hospitality and catering services contract with Saudi Automobile & Motorcycle Federation (SAMF) for the Dakar Rally 2021.
7. Al-Samaani Factory for Metal Industries Co.’s board of directors recommended a capital hike through SAR 150 million rights issue.
8. The Capital Market Authority (CMA) approved Alkhabeer REIT Fund’s request to increase total asset value by issuing additional units for acquiring real estate assets.
9. Southern Province Cement Co.'s board of directors approved appointing Hamad Al-Bazai as chairman and Mohammed Al-Nabat as vice chairman for the three-year term starting from Jan. 1, 2021.
10. Brent crude on Tuesday gained 17 cents to reach $51.80 per barrel. WTI crude also increased 12 cents to reach $48.52/bbl.
