7 things to consider as Tadawul starts trading

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

1) Development and Investment Entertainment Company, the wholly-owned subsidiary of Public Investment Fund (PIF), has signed an agreement with US-based AMC Entertainment Holdings Inc. to operate 30 to 40 cinemas in nearly 15 Saudi cities in the next five years.

Separately, Public Investment Fund (PIF) signed an agreement with Six Flags, an international entertainment park company, to develop and design a Six Flags-branded amusement park in Qiddiya.

2) Saudi Crown Prince Mohammed bin Salman met Walt Disney’s chief executive Robert Bob Allen Iger in Los Angeles and discussed opportunities for potential cooperation in entertainment, culture and film-making industry, the official SPA reported.

3) Snapchat parent Snap Inc. is in advanced talks to open an office in Saudi Arabia, CNBC reported.

4) Jabal Omar Development Co. (JODC) is expected to generate SAR 4 billion to SAR 4.5 billion in revenue from selling out Phase III of the Address Hotel project by sale-on-deposit arrangements, Al Arabiya TV has reported, citing CEO Yaser Al Sharif.

5) MEFIC REIT’s initial public offering (IPO) will started on April 4, and it will run for 20 working days until May 1.

6) Shareholders of National Medical Care Company (Care) will vote on the board of directors’ recommendation to distribute a 10 percent cash dividend, amounting to SAR 44.85 million (SAR 1 per share) for 2017, at its extraordinary general assembly meeting on April 15.

7) Crude oil prices edged higher on Thursday, with Brent crude last up 0.5 percent at $68.34/bbl while WTI crude rose 0.4 percent to $63.65/bbl.

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