Here’s what you need to know before opening bell on Tadawul, January 17

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RIYADH: Saudi Arabia’s stock market concluded six straight sessions in positive territory as optimistic market sentiment overshadowed growing omicron worries.

In the latest session, the main index TASI edged up to 12,110 points after reaching over 12,200 early in the morning, and the parallel Nomu market closed marginally higher at 26,288 points.

The Gulf was led by the Qatari index QSI which added 0.9 percent, followed by Bahrain’s BAX, up 0.6 percent.

Oman’s MSX30 went down by 0.6 percent, while Kuwait’s BKP index ended flat.

Elsewhere in the Middle East, the Egyptian index EGX30 dropped 1.5 percent.

In energy trading, Brent crude crossed $86 per barrel and US WTI crude oil reached $84.1 per barrel as of 8:43 a.m. Saudi time.

Stock news

ACWA POWER Co. appointed Mohammad Abdullah Abunayyan as board chairman, and Mohammad Abdullah Abunayyan as vice chairman for a three-year term
Fawaz Abdulaziz Alhokair Co. has submitted a filing to the Capital Market Authority for capital decrease, followed by capital increase through rights issue of SR1 billion ($266 million)
Saudi Pharmaceutical Industries and Medical Appliances Corp., or Spimaco, has signed an agreement with Swiss-based Vifor Pharma to locally manufacture a medicine, namely Ferinject
Al Rajhi Bank received the green light on completing an acquisition of Ejada Systems Company Ltd
Arabian Shield Cooperative Insurance Co.’s merger with Alahli Takaful has been completed, as set out in the shareholder circular
Allied Cooperative Insurance Group’s rights issue trading was around 89 percent covered, the rump offering will start on Jan. 18

Calendar

Jan. 17, 2022

End of East Pipes Integrated Co.’s initial public offering book-building process
Start of Scientific and Medical Equipment House’s IPO book-building process
Saudi Automotive Co. will start paying out dividends of SR0.2 per share for the third quarter of 2021

Jan. 18, 2022

Alwasail Industrial Co. and AME Co. for Medical Supplies will debut their shares on Nomu
Subscription to Allied Cooperative Insurance Group’s unsubscribed shares starts

Jan. 19, 2022

Allied Cooperative Insurance Group’s rump offering ends