5 things you need to know on Tadawul today

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

1) Kingdom Holding Co. (KHC) on Wednesday completed the acquisition of 195.27 million shares, representing a 16.2 percent stake, in Banque Saudi Fransi (BSF).

2) Etihad Etisalat Co. (Mobily) has paid the first installment of 126.9 million, representing 30 percent of SAR 422 million that is to be paid to acquire additional spectrum.

3) Mobile Telecommunication Company Saudi Arabia (Zain Saudi) said it has made the first payment of SAR 253.8 million out of SAR 844 million for the agreement to acquire additional spectrum.

4) Saudi Aramco will be able to disclose its audited financial accounts early next year if the government decides on a venue for the oil giant’s initial public offering (IPO) and finalizes several reforms this year, Reuters reported.

5) Oil prices edged lower on Thursday, declining from the four-month high achieved in the previous session. Brent crude was last down 0.2 percent at $56.16/bbl and WTI crude fell 0.1 percent to $50.62/bbl. 

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