7 things to watch on Tadawul today

Tadawul trading screen

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

1) Al Moammar Information Systems Co. (MIS) signed a memorandum of understanding (MoU) with Al Rajhi Capital to launch a special Shariah-compliant investment fund worth SAR 1 billion.

2) National Metal Manufacturing and Casting Co. (Maadaniyah) announced the extension of the memorandum of understanding (MoU) signed with IGL Group to establish an aluminum foundry plant.

3) Zamil Air Conditioners and Home Appliances Co., a wholly-owned subsidiary of Zamil Industrial Investment Co. (Zamil Industrial), signed a contract with Tatweer Buildings Co. for SAR 44 million.

4) Alkhaleej Training and Education Co. signed a sale and purchase agreement (SPA) to acquire a 60% stake in Al-Raqi National Schools Co. for a total value of SAR 12.82 million.

5) The Capital Market Authority (CMA) approved AYYAN Investment Co.’s request to increase its capital from SAR 737.3 million to SAR 806.4 million by issuing 6.9 million ordinary shares to acquire 26.43% shares of Al-Ahsa Medical Services Co.

6) The Securities Depository Center Co. (Edaa) implemented on Aug. 30, securities quantity increase for Alandalus Property Co. on the center’s accounts of eligible securities holders.

7) Brent crude on Tuesday declined 29 cents to reach $73.12 per barrel. WTI crude also decreased 28 cents to reach $68.93/bbl.