Tadawul trading screen

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

 

1) Tourism Enterprise Co.'s (Shams) board of directors approved amending the recommendation on reducing capital by 48.21% to SAR 52.57 million, due to the losses incurred in Q2 2021.

 

2) Umm Al-Qura Cement Co. appointed Majid Tariq Salah Gharbawi as Chief Executive Officer (CEO), effective Oct. 20.

 

3) Saudi Cable Co. submitted a request for capital reduction followed by an increase via rights issue to the Capital Market Authority (CMA).

 

4) Riyad REIT Fund acquired an office building worth SAR 184.37 million in Riyadh, which implies an initial acquisition yield of 8%.

 

5) Brent crude on Wednesday declined 43 cents to reach $70.62 per barrel. WTI crude also decreased 44 cents to reach $67.10/bbl.

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