Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Jabal Omar Development Co. (JODC) entered into a binding transaction agreement regarding the full settlement of the rights and obligations of Alinma Makkah Real Estate Fund’s assets in exchange for 225.1 million new shares to be issued to the fund’s unitholders in JODC.
2) Yamama Cement Co. signed a Shariah-compliant financing agreement for SAR 1.663 billion with Saudi National Bank.
3) Anaam International Holding Group Co.’s board of directors decided to use the fair value, or revaluation model, to measure real estate and investment properties.
4) Walaa Cooperative Insurance Co. signed an insurance agreement with Saudi Arabian Oil Co. (Saudi Aramco) to provide insurance coverage on energy, property, motor, marine products and others.
5) Zahrat Al Waha for Trading Co. renewed the Shariah-compliant credit facilities agreement with The Saudi Investment Bank (SAIB), at a total value of SAR 115.6 million.
6) National Agricultural Development Co. (NADEC) said that its accumulated losses reached SAR 30.11 million as of Dec. 31, 2021, representing 2.96% of its SAR 1.016 million paid-up capital.
7) Brent crude rose 0.09% to reach $104.48 per barrel. WTI crude added 0.02% to reach $99.29/bbl.
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