Here are a few things you need to know as Saudi stocks start trading on Thursday.
• The Capital Market Authority (CMA) set Dec. 2, 2020, as the beginning of the lock-up period for board members and senior executives of all Tadawul-listed companies, whose fiscal year ends on Dec. 31, 2020.
• Electrical Industries Co. finalized the procedures required to liquidate the associate, CG Power solutions of Saudi Arabia Co. (CG PSSA).
• Saudi Arabian Amiantit Co.’s (Amiantit) shareholders approved a 41.95 percent capital cut to SAR 200 million ($53.33 million) from SAR 344.52 million through the cancellation of 14.45 million shares to offset 96.61 percent of accumulated losses.
• The Mediterranean and Gulf Insurance and Reinsurance Co.’s (MEDGULF) board of directors appointed Raad Bin Ghaith Al-Barakati, a non-executive board member, as vice chairman of the board.
• Ash-Sharqiyah Development Co.'s shareholders approved, on Dec. 1, forming the audit committee for the upcoming three-year term, ending on July 19, 2023.
• Mulkia Gulf Real Estate REIT Fund’s board of directors approved to appoint a Zakat advisor to initiate the procedures of registering the fund with the General Authority for Zakat and Tax (GAZT).
• Brent crude on Thursday gained 6 cents to reach $48.31 per barrel. WTI crude also increased 4 cents to reach $45.32/bbl.
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