6 things to watch on Tadawul today

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

1) Musharaka REIT Fund has completed the procedures required for converting Al Kharj Plaza project from usufruct to free ownership system.

2) Al-Samaani Factory for Metal Industries Co.’s board of directors recommended a 66.7% capital hike to SAR 25 million from SAR 15 million through issuance of bonus shares.

3) Allied Cooperative Insurance Group (ACIG) received a letter from the Saudi Arabian Monetary Authority (SAMA) requiring the insurer to lift its statutory deposit to 15% of capital.

4) Al-Samaani Factory for Metal Industries Co. posted a net loss after zakat and tax of SAR 367,000 during the first nine months of 2019, against a net profit of SAR 3.21 million a year earlier.

5) Al Mommar Information Systems Company (MIS) has signed a memorandum of understanding (MoU) with Egypt-based Fingerprint Consultancy and partners to conduct feasibility study on acquiring 75% of the firm.

6) Brent crude on Friday declined 58 cents to reach $63.39 per barrel whereas WTI Crude also decreased 81 cents to reach $57.77/bbl.