What you need to know when Tadawul opens today

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

1) Saudi British Bank (SABB) reported a net profit of SAR 2.8 billion for the fiscal year (FY) 2019, up 4.2% year-on-year (YoY).

2) Arab National Bank (ANB) reported a net profit of SAR 3.02 billion for FY2019, down by 23.8% YoY.

3) Dar Al Arkan Real Estate Development Company listed on Feb. 25 sukuk worth $400 million (SAR 1.5 billion) on Nasdaq Dubai.

4) Tabuk Agricultural Development Co. (TADCO) recommended raising capital through SAR 100 million rights issue.

5) Saudi retail investors started, on Feb. 26, subscribing to around 5.25 million shares of Dr. Sulaiman Al Habib Medical Group (HMG) shares at SAR 50 each, after completing the book-building process.

6) Saudi Paper Manufacturing Co. (SPM) said that the decision to dismiss CEO and Managing Director, Hassan Asiree, from the board membership lacked a legal justification.

7) Saudi Real Estate Co.’s (Al Akaria) subsidiary, Saudi Real Estate Infrastructure Co. (Binyah), signed a contract with Misk Foundation to design and build a bridge for vehicles with associated road works and utilities, in addition to earthworks for SAR 356.28 million.

8) Al Jouf Cement Co. approved amending Article 3 of the company’s articles of association to produce all types of cement instead of producing only Portland cement.

9) Wafrah for Industry and Development Co. will face termination by April 11 under the Saudi Companies Law if it fails to hold an extraordinary general assembly meeting within 45 days from the date its board was informed of losses or shareholders fail to pass a resolution.

10) Brent crude on Thursday declined 72 cents to reach $52.71 per barrel. WTI Crude also decreased 80 cents to reach $47.93/bbl.