Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Advanced Petrochemical Co.’s board of directors has recommended a 6.5 percent cash dividend for the third quarter of 2019, at SAR 0.65 per share, amounting to SAR 140.7 million.
2) National Company for Learning & Education (NCLE) has inked a non-binding memorandum of understanding (MOU) with Al-Khwarizmi Co. for Education to acquire 100 percent of its shares.
3) Bonyan REIT Fund has signed two Sharia-compliant credit facility agreements worth SAR 1.2 billion.
4) The Saudi Stock Exchange Co. (Tadawul) has lifted the trading suspension placed on shares of National Agricultural Marketing Co. (Thimar) starting Oct. 13, 2019.
5) Al Sorayai Trading and Industrial Group Co. submitted on Friday a request to increase capital through a rights issue to the Capital Market Authority (CMA).
6) United Electronics Co.’s (eXtra) fully owned subsidiary, United Company for Financial Services, obtained the Saudi Arabian Monetary Authority’s (SAMA) preliminary approval to launch a new credit cards financing service.
7) Brent crude on Friday dropped 28 cents to reach $60.23 per barrel whereas WTI Crude also decreased 30 cents to reach $54.40/bbl.
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