9 things you need to know on Tadawul today

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

1) Saudi Arabia has raised SAR 46.9 billion ($12.5 billion) from its second dollar bond sale this year as the Kingdom seeks to plug up its budget deficit, the finance ministry said in a statement Thursday.

2) Jabal Omar Development Co. has inked a memorandum of understanding with Umm Al Qura Development and Construction Co. related to a potential merger between the two companies.

3) Taiba Holding Co.’s board has recommended a SAR 0.4 per share cash dividend for Q3 2017.

4) Saudi Cable Co. said it will delay publishing its financials for the fiscal year 2016 for another eight weeks starting from Sept. 28 due to ongoing discussions with its external auditors.

5) Saudi British Bank’s (SABB) general assembly approved on Wednesday the related party transaction of acquiring the full stake of HSBC in SABB Takaful Co. (32.5 percent stake) for SAR 117.79 million. 

6) The Public Warehousing Company has issued the prospectus of its initial public offering (IPO) on the Nomu Parallel Market, after obtaining the required regulatory approvals.

7) Wafrah for Industry & Development Co.’s board has appointed Zenan Al Yami as CEO effective from Oct. 1, 2017 after the company’s CEO Ibrahiem Al Dagrier resigned.

8) Al Kathiri Holding Co. will begin commercial operations at its Riyadh-based ready-made concrete plant October 1.

9) Oil prices traded lower on Thursday. Global benchmark Brent crude was last 0.2 percent down at $57.77 per barrel (bbl), while West Texas Intermediate fell 0.2 percent to $52.04/bbl.