9 things to consider as Tadawul starts trading

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

1) Saudi Arabian Oil Co. (Saudi Aramco) is fully ready for its initial public offering (IPO) in the second half of this year, and is awaiting clearance from the Saudi government, according to Aramco president and CEO Amin Nasser.

2) Zain Saudi expects 2018 to be a better year for business given less hostile market condition and closer coordination with parent Zain Group, CEO Peter Kaliaropoulos said.

3) Saudi Arabia Fertilizers Co. (SAFCO) posted a net profit of SAR 62.5 million in Q4 2017, down nearly 77 percent year-on-year (YoY) due to lower sales.

4) Wasatah REIT Fund will acquire its initial assets, which comprise the five-star Mövenpick Hotel Riyadh and Coral Al Khobar Hotel, within 40 days of closing its IPO.

5) Al Jouf Cement Co. sent on January 18 its first cement shipment to Jordan. The related financial impact is expected in Q1 2018.

6) National Commercial Bank (NCB) is set to expand its lending portfolio to tap market opportunities, following its planned capital increase, chairman Mansour Al-Maiman said.

7) Jabal Omar Development Co. is considering many products in partnership with investment firms to inject liquidity into the company and enhance its business profile in the long term, according to CEO Yasser Al-Sharif.

8) National Gas & Industrialization Co. (GASCO) has agreed with the Saudi Gas Cylinder Factory to cancel a one-year contract extension, signed on November 2, 2017, without any liabilities.

9) Oil prices rose on Thursday, with Brent crude hitting $71-mark for the first time since December 2014 as global markets continue to tighten on the back of OPEC-led output cuts. WTI crude was up 1 percent at $66.29/bbl. 

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com