10 things to watch on Tadawul today

10 things to watch on Tadawul today
10 things to watch on Tadawul today

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Jeddah - Yasmine El Tohamy - Here are a few things you need to know as Saudi stocks start trading on Wednesday.

  1. Aldrees Petroleum and Transport Services Co. (Aldrees) reported a net profit after Zakat and tax of SAR 121.1 million for the fiscal year 2020, down 59% year-on-year (YoY).
  2. Alkhabeer Diversified Income Traded Fund will be listed as a closed-ended investment traded fund on the Saudi Stock Exchange (Tadawul), and units will begin trading from Jan. 19, 2021.
  3. Sahara International Petrochemical Co. (Sipchem) completed the second phase of its share buyback during the period Oct. 1 – Dec. 31, 2020.
  4. Riyad Bank plans to establish a domestic SAR-denominated sukuk issuance program of up to SAR 10 billion.
  5. National Housing Co. (NHC) inked two financing agreements worth SAR 2 billion with Al Rajhi Bank.
  6. Aldrees’ board of directors recommended increasing the company’s capital to SAR 750 million from SAR 600 million, through distribution of 25% bonus shares (one bonus share for every four shares owned).
  7. SEDCO Capital REIT Fund will pay dividend for Q4 2020 on Jan. 21, 2021.
  8. Ataa Educational Co. signed a 52% acquisition agreement with Al Wasat National Schools for Training and Education Co. (LLC), in exchange for an in-kind share, as Ataa will transfer the ownership of a land plot to Al Wasat Schools.
  9. Wafrah for Industry and Development Co.’s board of directors approved the appointment of Mohammed Al-Mukhadab as chairman and Mohammed Al-Otaibi as deputy chairman for the new three-year term started Jan. 14, 2021.
  10. Brent crude on Wednesday declined $1.32 to reach $55.10 per barrel. WTI crude also decreased $1.21 to reach $52.36/bbl.

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