6 things you need to know on Tadawul today

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

1) Saudi Arabia’s Capital Market Authority (CMA) has approved a request by Almarai Co. to raise its capital to SAR 10 billion from SAR 8 billion, through issuing one bonus share for each four shares held.

2) The Saudi Stock Exchange (Tadawul) has reclassified three listed companies in the main equity market based on the Global Industry Classification Standard (GICS) as of Sunday, July 7: National Industrialization Co. (Tasnee), Saudi Industrial Services Co. (Sisco), and Saudi Chemical Co.

3) Jabal Omar Development Co. said it is working on transferring a SAR 3 billion loan granted by the finance ministry in 2011 into a sharia-compliant facility.

4) The CMA has approved the prospectus for Zahrat Al Waha For Trading Company’s initial public offering on Tadawul, the market regulator said in a statement.

5) The Eid al-Fitr holiday for Tadawul will start on June 23, 2017. Trading will resume after the holiday on Sunday, July 2, the bourse said in a statement. 

6) Oil prices closed in the green on Friday. Brent crude was up nearly 1 percent at $47.37/bbl and WTI crude rose 0.6 percent to $44.74/bbl.