10 things to watch on Tadawul today

Tadawul trading screen

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

1) Retail investors started on Sept. 19, subscription to 2.4 million shares of Arabian Internet and Communications Services Co. (solutions by stc), at SAR 151 a share.

2) Al Hassan Ghazi Ibrahim Shaker Co.’s (Shaker) board of directors recommended a 25% capital cut from SAR 630 million to SAR 472.5 million through writing off 15.75 million shares (one share for every four shares).

3) Saudi Basic Industries Corp. (SABIC) started commissioning activities of the joint venture (JV) project with Exxon Mobil in the US Gulf Coast.

4) Saudi Airlines Catering Co. signed a three-year contract worth nearly SAR 75 million with Saudi Railways Co. (SAR) to provide food and beverage services on trains, stations, and cafeteria (North and East lines).

5) Development Works Food Co.’s shareholders approved increasing capital by 20%, through one-for-five bonus share distribution.

6) Abdullah Saad Mohammed Abo Moati for Bookstores Co.’s (Abo Moati) shareholders approved the board's recommendation of a 5% cash dividend (SAR 0.5 a share) for the fiscal year ended March 31, 2021.

7) Baazeem Trading Co. announced that four members of the board of directors resigned.

8) Middle East Specialized Cables Co.’s (MESC) board of directors appointed Ammar Abdulrahim Khadi as Managing Director (MD) and an executive board member, effective from Sept. 19.

9) The consortium of Alkhorayef Water and Power Technologies Co. (AWPT) and France’s Veolia was awarded a management, operation and maintenance (MOM) contract worth SAR 358 million by National Water Co.

10) Brent crude on Monday fell 49 cents to reach $74.85 per barrel. WTI crude also decreased 60 cents to reach $71.37/bbl.