8 things to watch on Tadawul today

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

1) Foreign investors bought 320 million shares or a 0.16% stake in state-owned Saudi Aramco on its first day of trading on the Saudi Stock Exchange (Tadawul).

2) The board of directors of National Commercial Bank (NCB) and Riyad Bank agreed to back out of their merger negotiations.

3) Arabian Cement Co. said that cement mills in Rabigh are 99.4% completed and construction works will be fully finalized by Q2 2020.

4) Al Gassim Investment Holding Co.’s (GACO) board of directors recommended a 2.5% cash dividend for the fiscal year of 2019, at SAR 0.25 per share, amounting to SAR 7.5 million.

5) Sahara International Petrochemical Co.’s (Sipchem) InoChem secured a SAR 1.7 billion Shariah-compliant credit facility from Alinma Bank and Bank Albilad.

6) Saudi Arabian Fertilizers Co.’s (SAFCO) board of directors recommended a 15% cash dividend for the second half of 2019, at SAR 1.5 per share, amounting to SAR 625 million.

7) Al Kathiri Holding Co.’s subsidiary Alian Industry Company signed on Dec. 15 an Islamic facility agreement worth SAR 18 million with Riyad Bank.

8) Brent crude gained 0.02% on Tuesday to $65.35 per barrel whereas WTI Crude declined 0.02% to $60.20/bbl.