7 things to consider as Tadawul starts trading

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

1) Saudi Arabia-backed Softbank Vision Fund will invest roughly $560 million in Germany-based used car broker Auto1, thereby acquiring a 20 percent stake into the firm.

2) Saudi Arabia’s General Authority of Civil Aviation (GACA) is said to have put the $685-million King Abdullah bin Abdul Aziz airport project in Jazan on hold for the second time since the contract was awarded in December 2015.

3) Kingdom Holding has sold its stake in the Four Seasons Hotel in Beirut for around $100-115 million including debt, Reuters reported, citing sources.

4) Al Marakez Al Raqiyah Limited, a subsidiary of AlBaha Investment & Development Co. (AlBaha), has completed all regulatory procedures related to finalizing its full acquisition of Ishraqah Regional Development & Real Estate Investment.

5) Jadwa REIT Al Haramain will pay a 2.6 percent cash dividend (SAR 0.26 per share) for the second half of 2017 on January 24.

6) Saudi Industrial Export Co. (SIECO) has signed a memorandum of understanding with Tri-Spectrum Ltd. to export the latter’s products and represent the firm outside the Kingdom.

7) Crude oil prices were mixed on Tuesday, with Brent crude last trading down 0.4 percent at $70.01/bbl, while WTI crude rose 0.3 percent to $64.52/bbl.

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