Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) The Capital Market Authority (CMA) approved on Dec. 1 the deregulation of the market institutions’ commission of buying and selling listed equities on Nomu-Parallel Market for both seller and buyer. The Saudi Stock Exchange (Tadawul) and CMA commission will remain unchanged.
2) Citigroup Saudi Arabia and Goldman Sachs Saudi Arabia received a notification from NatWest Markets Plc and Banco Santander S.A. on completion of the accelerated book building process to sell 115.88 million shares in Saudi British Bank (SABB).
3) Aljazira Takaful Taawuni Co. and Solidarity Saudi Takaful Co. obtained on Nov. 30, 2020, the approval of the Saudi Central Bank (SAMA) for merger.
4) Arriyadh Development Co. (ARDCO) received letters from the General Authority of Zakat and Tax (GAZT), requiring it to adjust its Zakat reports for the period from 2015 to 2018, and pay Zakat differences worth SAR 103.14 million ($27.5 million).
5) The creditor objection period for the merger between Al-Ahlia Insurance Co. and Gulf Union Cooperative Insurance Co. will end on Thursday, Dec. 3, 2020.
6) National Agricultural Marketing Co. (Thimar) clarified that the SAR 22.41 million ruled by the court in its favor is related to a claim made against an investor to pay the funds remaining from purchasing part of Thimar’s stake in one of its associates.
7) Brent crude on Wednesday declined 39 cents to reach $47.03 per barrel. WTI crude decreased 43 cents to reach $44.12/bbl.
Powered by Argaam