https://arab.news/ceue9
- Here are a few things you need to know as Saudi stocks start trading
Here are a few things you need to know as Saudi stocks start trading on Monday.
• National Commercial Bank (NCB) announced the intention of NCB Tier 1 Sukuk Ltd., an exempted company with limited liability in the Cayman Islands, to issue US dollar-denominated additional Tier-1 sukuk.
• Emaar The Economic City (Emaar EC) signed a framework cooperation agreement with the Tourism Development Fund, FTG Development Co., Albilad Investment Co. and Ekofine Holding BV to establish a SAR 1.8 billion closed and private investment fund.
• Ataa Educational Co. announced its decision to grant special discounts on tuition fees for the second semester of the academic year 2020/2021.
• Middle East Paper Co. (MEPCO) renewed its Shariah-compliant bank facility agreement with Riyad Bank, at a total value of SAR 101 million.
• MEFIC REIT Fund reported a net loss of SAR 39.2 million for the fiscal year 2020, compared to a net profit of SAR 28 million a year earlier.
• Tadawul announced that Alkhabeer Diversified Income Traded Fund will be listed as a closed-ended investment traded fund on the main market, and units will begin trading on Jan. 19, 2021.
• Saudi Fransi Capital announced the distribution of cash dividend to Taleem REIT Fund unit holders for the period from Oct. 1, 2020 to Dec. 31, 2020, at SAR 0.16 per unit, or 1.6 percent initial price per unit.
• Wafrah for Industry & Development Co. approved the impeachment of the board of directors and audit committee, as applied for by shareholders in possession of 7.14 percent of the total shares of the company.
• The Ministry of Finance’s Projects Support Fund Initiative signed an agreement with Tadawul to provide economic stimulus to listed companies.
• Brent crude on Friday declined $1.32 to reach $55.10 per barrel. WTI crude also decreased $1.21 to reach $52.36/bbl.