7 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) The Saudi Investment Bank (SAIB) sold 75 million treasury shares for SAR 1.03 billion.

2) Bawan Co. announced completing all legal procedures related to selling the full stake of its 85.5%-owned subsidiary, United Transformers Electric Co. Ltd. (Utec Saudi), in Utec Algeria for approximately SAR 30 million.

3) The Capital Market Authority (CMA) approved the request received from Aljazira Takaful Taawuni Co. (Aljazira Takaful) to raise capital from SAR 470.66 million to SAR 550 million via bonus shares.

4) Saudi Automotive Services Co.’s (SASCO) board of directors recommended 3% cash dividend, at SAR 0.3 per share, for H1 2021.

5) Shareholders of Saudi Chemical Co. elected board members for the upcoming three-year term, starting Jan. 1, 2022.

6) Abdullah Al Othaim Markets Co. announced opening of a new branch in Riyadh, bringing the total number of branches in Saudi Arabia to 259.

7) Brent crude on Friday gained $1.47 to reach $72.92 per barrel. WTI crude also increased $1.58 to reach $69.72/bbl.