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 Tuesday.

1) Shareholders of Emaar The Economic City (Emaar EC) approved the board’s recommendation on increasing capital through converting SAR 2.83 billion debt owed by the company to the Public Investment Fund (PIF).

2) Saudi Real Estate Refinance Co. (SRC), wholly-owned by the PIF, signed a partnership agreement with Banque Saudi Fransi (BSF) to refinance part of its housing finance portfolio.

3) Saudi Arabian Amiantit Co. and Saudi Industrial Services Co. (SISCO) announced that the best-bidder consortium signed a contract with Saudi Water Partnership Co. (SWPC) to build Buraydah 2, Tabuk 2 and Al Madinah 3 independent sewage treatment plants (ISTPs).

4) Aramco, Air Products, ACWA Power and Air Products Qudra announced the signing and finalization of definitive agreements for the asset acquisition and project financing of the $12 billion (SAR 45 billion) air separation unit (ASU)/gasification/power joint venture (JV) in Jazan Economic City.

5) Sahara International Petrochemical Co. (Sipchem) announced the start of supplying hydrogen to Saudi Aramco Shell Refinery Co. (SASREF) after undergoing processing at the company's facilities.

6) The board of directors of stc approved the three-year dividend policy, starting Q4 2021.

7) SEDCO Capital said it will pay cash dividend at 1.63%, or SAR 0.163 per unit, totaling SAR 9.75 million, to SEDCO Capital REIT Fund unitholders for the period starting July 1 to Sept. 30, 2021.

8) Development Works Food Co. received an email from the Saudi Tadawul Group on Sept. 26, stating that its transfer request from the Nomu – Parallel Market to the main market has not been completed.

9) PIF and Emaar EC announced the completion of an investment deal, under which the sovereign wealth fund becomes a major shareholder in the company with a 25% stake, after obtaining the necessary approvals.

10) Brent crude on Tuesday gained 67 cents to reach $80.20 per barrel. WTI crude also increased 66 cents to reach $73.98/bbl.