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Saudi s SAMA greenlights merger of insurers Amana Cooperative, Enaya

SAMA greenlights merger of insurers Amana Cooperative, Enaya

RIYADH: The Saudi Central Bank (SAMA) has approved the planned merger of Amana Cooperative Insurance Co. and Enaya on Tuesday, according to a bourse filing. Amana also got SAMA's approval to increase its capital to SR288.5 million ($76.9 million) by issuing 15,858,024 new ordinary shares for the purpose of merging with Enaya through transferring all of its assets and

8 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday. stc is considering an initial public offer (IPO) for its 100%-owned subsidiary, Arabian Internet and Communications Services Co. (solutions by stc), on the Saudi Stock Exchange (Tadawul). Yanbu National Petrochemical Co. (Yansab) announced the scheduled shutdown of two plants to carry out preventive maintenance work. National Commercial Bank (NCB) completed issuing additional Tier 1 sukuk at a value of $1.25 billion (SAR 4.69 billion). Al Moammar Information Systems Co. (MIS) announced that its 50%-owned subsidiary, Edarat Communications and Information Technology Co., appointed FALCOM Financial Services as a financial advisor to start direct registration and listing on the Nomu Parallel Market.

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