6 things to watch on Tadawul today

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

1) Nama Chemicals Co. has posted the prospectus of its SAR 200 million rights issue, the company said in a bourse filing.

2) Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) net profit after zakat and tax fell 52.9 percent year-on-year (YoY) to SAR 669 million for fiscal year 2018 due to a decline in profit margins of refined products. 

3) Malath Cooperative Insurance Co. has renewed an auto insurance policy and general insurance policy with Abdullatif Alissa Group Holding and its affiliates.

4) Al Ahlia for Cooperative Insurance Co.’s shareholders has rejected the merger offer submitted by Gulf Union Cooperative Insurance Co. through a full acquisition of its shares through a security swap offer.

5) Al Khaleej Training and Education Co. has received the approval of the Saudi Arabian Monetary Authority (SAMA) on renewing their SAR 34.09 million worth of an existing agreement for three years as of January 2020.

6) Riyad Bank’s board of directors has named Tariq Al Sadhan as chief executive officer effective from April 1, 2019, the bank said in a bourse statement.