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Jeddah - Yasmine El Tohamy - Here are a few things you need to know as Saudi stocks start trading on Wednesday.
- 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).
- 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.
- Sahara International Petrochemical Co. (Sipchem) completed the second phase of its share buyback during the period Oct. 1 – Dec. 31, 2020.
- Riyad Bank plans to establish a domestic SAR-denominated sukuk issuance program of up to SAR 10 billion.
- National Housing Co. (NHC) inked two financing agreements worth SAR 2 billion with Al Rajhi Bank.
- 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).
- SEDCO Capital REIT Fund will pay dividend for Q4 2020 on Jan. 21, 2021.
- 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.
- 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.
- 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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