9 things to watch on Tadawul today

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

1) Saudi Aramco said no price stabilization transactions have been executed as of Dec. 24, 2019.

2) Walaa Cooperative Insurance Co. and MetLife AIG ANB Cooperative Insurance Co. received a no-objection letter from the Saudi Arabian Monetary Authority (SAMA) on their potential merger.

3) Mulkia Gulf Real Estate REIT Fund signed an agreement to acquire a commercial building “luxury apartments” in An Namudhajiyah district, Riyadh for SAR 50 million.

4) Tihama Advertising & Public Relations Co.’s board of directors modified on Dec. 22 its previous recommendation on SAR 100 million capital hike.

5) Alujain Corporation appointed Al Jazeera Capital as the financial advisor, replacing Swiscorp, for the potential acquisition of the non-listed National Fertilizer Company (Mobi).

6) Sahara International Petrochemical Company (Sipchem) subsidiary, Saudi Specialized Products Company (Wahaj), launched a new company, Portsmouth Arabia for Aviation.

7) Saudi Kayan Petrochemical Co. signed SAR 1.5 billion Murabaha financing agreement with Banque Saudi Fransi (BSF).

8) Aljazira Takaful Taawuni Co. obtained the approval of the Saudi Arabian Monetary Authority (SAMA) to transfer the insurance portfolio from Bank Aljazira to the insurer as of Jan. 2020.

9) Brent crude gained 1.22% on Tuesday to $67.20 per barrel whereas WTI Crude also rose 1% to $61.11/bbl.