Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) The Saudi Stock Exchange (Tadawul) has announced a series of enhancements to improve market access, efficiency and liquidity. Tadawul will update its independent custody model (ICM) to enhance Qualified Foreign Investor (QFIs) access to the market by provide more flexibility in trading limits for ICM clients, the bourse said in a statement.
2) Saudi Arabia has the second largest sovereign wealth fund (SWFs) in the Arab region with assets valued at $717.9 billion, SWF Institute’s data showed.
3) Derayah REIT has been oversubscribed by 123 percent upon closure of the initial public offering period on January 7.
4) Falcom Financial Services recommended an “overweight” rating on Bupa Arabia for Cooperative Insurance, setting the stock’s fair price at SAR 101.22.
5) Saudi Aramco is seeking to secure billions of dollars in cheap loans from banks that are looking to strengthen their ties with the oil firm ahead of its stock listing, Reuters reported, citing unnamed banking and export credit agency (ECA) sources.
6) Riyadh-based ACWA Power has invited banks to pitch for its up to $1 billion initial public offering (IPO) mandate, Reuters reported, citing unnamed sources.
7) Oil prices edged lower on Thursday, with Brent crude last down 0.2 percent at $69.09/bbl, while WTI crude fell 0.1 percent to $63.48/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}