9 things you need to know on Tadawul today

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

1) The Company for Cooperative Insurance’s (Tawuniya) general assembly on Tuesday approved a 25 percent capital hike via bonus shares.

2) Saudi Indian Company for Cooperative Insurance (Wafa) has appointed Saudi Kuwaiti Finance House to advise on its proposed a 40.5 percent capital reduction.

3) Tihama Advertising & Public Relations Co. has filed a legal claim against a number of its former board members at the Board of Grievances in Riyadh.

4) Saudi Marketing Co. (Farm Superstores) has appointed Hazem Fayez Al Aswad as the new chairman of the board, for the three-year term up to 2020.

5) AlBaha Investment and Development Co. has submitted a request to reduce capital to the kingdom’s market regulator, the Capital Market Authority (CMA).

6) Alandalus Property Co. has evacuated the 30,251 square-meter plot of land, which was allocated for its joint venture (JV) hospital with Sulaiman Al Habib Medical Group.

7) Mediterranean and Gulf Insurance and Reinsurance Co.’s (MedGulf) board has accepted the resignation of, Mohammed Alshaya, the chief executive, for personal reasons and effective April 30, 2017.

8) Abdullah Al Othaim Markets Co.’s board has recommended a 20 percent cash dividend to be issued at SAR 2 per share for FY 2016.

9) Crude oil prices slipped on Wednesday as industry data revealed a build-up in US inventories. Brent crude was last down 0.4 percent at $50.76/bbl and WTI crude fell 1.8 percent to $47.34/bbl.