9 things to watch on Tadawul today

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

1) Advanced Petrochemical Co. reported an estimated net profit after Zakat and tax of SAR 259 million for the first half of 2020, a 27% year-on-year (YoY) drop.

2) Mulkia Gulf Real Estate REIT Fund will pay a 1% cash dividend for the 4-month period from March 1, 2020, until June 30, 2020, at SAR 0.10 per unit, amounting to SAR 6.8 million.

3) Allianz Saudi Fransi Cooperative Insurance Co.’s (Allianz SF) remaining rights issue shares were 538.78% oversubscribed, with a total value of SAR 36.74 million from 2.5 million shares at SAR 14.72 per share.

4) Saudi Real Estate Co. (Al Akaria) signed an agreement with National Commercial Bank (NCB) to restructure an existing SAR 2.07 billion credit facility to match the company’s future cash flows.

5) Saudi Fisheries Co. (Alasmak) reduced its accumulated losses to SAR 60.6 million, or 15.15% of its capital as on May 14, 2020.

6) Saudi Telecom Co. (STC) extended the non-binding memorandum of understanding (MoU) to acquire 55% stake in Vodafone Group’s Egyptian business for additional 60 days.

7) Advanced Petrochemical Co. signed a Murabaha facility agreement with Riyad Bank (investment agent), SAMBA Financial Group and Al Rajhi Bank at a total value of SAR 1.5 billion.

8) Abdulla Saad Abo Moati For Bookstore Co. (Abo Moati) opened a new showroom in Jeddah, at a total investment of SAR 2.6 million.

9) Brent crude on Monday declined 33 cents to reach $42.91 per barrel. WTI Crude also decreased 34 cents to reach $40.21/bbl.