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 Wednesday.

1) Taiba Investment Co. signed a hotel management agreement with AccorHotels to operate four-star Novotel Hotel in Madinah – owned by Al Aqeeq Real Estate Development Co. - a fully-owned subsidiary of Taiba.

2) The Saudi Exchange (Tadawul) suspended trading on Al Sagr Cooperative Insurance Co.'s shares due to failure to disclose financial statements for Q2 2021 during the specified regulatory period. 

3) National Shipping Company of Saudi Arabia’s (Bahri) board of directors recommended the distribution of cash dividend at SAR 1 per share, or 10% of capital, totaling SAR 393.75 million for the first half of 2021.

4) Alujain Holding Corp. signed an agreement to purchase the shares of Haji Abdullah Alireza & Co. Ltd. in its subsidiary, National Petrochemical Industrial Co. (NATPET), for SAR 82 million.

5) Arabian Cement Co. filed a lawsuit against Emaar the Economic City (Emaar EC) before Jeddah Commercial Court to claim the remaining quantities of limestone ore in accordance with the agreement signed between them on April 28, 2012.

6) Retail subscription for 2.4 million shares of Arabian Internet and Communications Services Co. (solutions by stc), at SAR 151 a share, ended on Sept. 21.

7) Al Gassim Investment Holding Co. (GACO) announced that the administrative court of appeal in Qassim approved the appeal it had filed against the Qassim branch of Ministry of Environment, Water and Agriculture, as it abstained from submitting the company’s request to own the entire land space it revived.

8) Tourism Enterprise Co. (Shams) named Adeem Capital Co. as financial advisor for its prospective capital cut.

9) Naseej International Trading Co. issued prospectus for its SAR 150 million rights issue.

10) Brent crude on Wednesday gained 59 cents to reach $74.95 per barrel. WTI crude also increased 70 cents to reach $71.19/bbl.