8 things to watch on Tadawul today

02/07/2020 Argaam Special

 

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

 

1) National Commercial Bank (NCB) secured a syndicated Murabaha financing facility of $1.05 billion from a consortium of regional and global banks led by HSBC and Mizuho Bank.

 

2) Shareholders of Saudi Paper Manufacturing Co. (SPM) approved to file a liability suit against former board members, Hassan Asiri and Badr Al Selea.

 

3) Saudi Real Estate Co. (Al-Akaria) inked an agreement with the Public Investment Fund (PIF) to reschedule an outstanding loan.

 

4) SPM signed an agreement with Alinma Bank to reschedule outstanding credit facilities, representing 40% of the company’s total loans.

 

5) Sumou Real Estate Co.’s shareholders approved the board’s recommendation to distribute 10% cash dividend, at SAR 1 per share, for the fiscal year 2019.

 

6) Shareholders of Kingdom Holding Co. authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for FY2020.

 

7) Bupa Arabia for Cooperative Insurance Co.’s shareholders approved buying back 220,000 treasury shares, worth SAR 14.28 million, under the Employee Long Term Incentive Program (LTIP).

 

8) Brent crude on Thursday gained 5 cents to reach $42.08 per barrel. WTI Crude also increased 1 cent to reach $39.83/bbl.

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