8 things to watch on Tadawul today

Tadawul trading screen

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

1) Arabian Shield Cooperative Insurance Co.’s shareholders approved the board’s recommendation on a 33.3% capital hike to SAR 400 million, from SAR 300 million, through bonus share distribution at 1-for-3.

2) Alinma Bank announced the start of issuance of SAR denominated additional Tier 1 sukuk through private placement.

3) Abdullah Al Othaim Markets Co. opened a new branch in Riyadh, bringing the total number of branches in Saudi Arabia to 257. 

4) Ataa Educational Co. reported a net profit after Zakat and tax of SAR 17.7 million for the first nine months of 2020/21 ending on April 30, 2021, down 62% year-on-year (YoY).

5) Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) will pay a 10% cash dividend for 2020, at SAR 1 a share, as of June 16, 2021.

6) Arab Sea Information Systems Co. (Arab Sea) received the approval of the Ministry of Commerce to establish Arab Sea Financial Co., a closed joint stock company.

7) Tabuk Pharmaceutical Manufacturing Co., a fully owned subsidiary of Astra Industrial Group, signed an agreement with Nasdaq-listed Moderna, to commercialize the Moderna COVID-19 vaccine and future variant-specific booster candidates in Saudi Arabia.

8) Brent crude on Friday gained 58 cents to reach $71.89 per barrel. WTI crude also increased 81 cents to reach $69.62/bbl.