7 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Thursday.

1) The Capital Market Authority (CMA) set Dec. 2, 2020, as the beginning of the lock-up period for board members and senior executives of all Tadawul-listed companies, whose fiscal year ends on Dec. 31, 2020.

2) Electrical Industries Co. finalized the procedures required to liquidate the associate, CG Power solutions of Saudi Arabia Co. (CG PSSA).

3) Saudi Arabian Amiantit Co.’s (Amiantit) shareholders approved a 41.95% capital cut to SAR 200 million from SAR 344.52 million through the cancellation of 14.45 million shares to offset 96.61% of accumulated losses.

5) The Mediterranean and Gulf Insurance and Reinsurance Co.’s (MEDGULF) board of directors appointed Raad Bin Ghaith Al-Barakati, a non-executive board member, as vice chairman of the board.

6) Ash-Sharqiyah Development Co.'s shareholders approved, on Dec. 1, forming the audit committee for the upcoming three-year term, ending on July 19, 2023.

7) Mulkia Gulf Real Estate REIT Fund’s board of directors approved to appoint a Zakat advisor to initiate the procedures of registering the fund with the General Authority for Zakat and Tax (GAZT).

8) Brent crude on Thursday gained 6 cents to reach $48.31 per barrel. WTI crude also increased 4 cents to reach $45.32/bbl.