8 things to consider as Tadawul starts trading

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

1) Public Investment Fund (PIF) plans to complete its purchase of a stake of less than 10 percent in talent agency Endeavor LLC for $400 million during Crown Prince Mohammed bin Salman’s US visit, Wall Street Journal reported.

2) A joint venture involving Saudi Aramco has started construction work on the Gulf’s biggest maritime yard at the Ras Al-Khair site in eastern Saudi Arabia.

3) Mobile Telecommunications Company Saudi Arabia (Zain) has extended its commercial loan facility signed with the Industrial and Commercial Bank of China (ICBC) for one additional year.

4) The Company for Cooperative Insurance (Tawuniya) has signed a medical insurance contract with Yanbu Aramco Sinopec Refining Co. (Yasref).

5) Walaa Cooperative Insurance Company's technical reserves will increase by SAR 2.8 million following an updated valuation report from the appointed actuary.

6) Swicorp Wabel REIT’s initial public offering (IPO) will start today on the Saudi Stock Exchange (Tadawul), with subscription for 15 working days until April 8.

7) Al Rajhi REIT Fund will start trading on Tadawul on March 20, under the symbol 4340. The daily price fluctuation limit stands at 10 percent per unit.

8) Crude oil prices declined on Monday, with Brent crude last down 0.6 percent at $65.84/bbl while WTI crude fell 0.5 percent to $62.01/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com