10 things to consider as Tadawul starts trading

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

1) Middle East Paper Co. (MEPCO) is looking to sustain its growth from the previous two quarters throughout the rest of this year by further improving operational efficiency and production capacity, which in turn will lead to higher sales, Chief Financial Officer Mohamed Saleh Darweesh told Argaam.

2) Saudi Electricity Company for Projects Development, a subsidiary of Saudi Electricity Co. (SEC), has started operating a 380-kilo volt power plant in Jalla at a total cost of SAR 590 million.

3) Sipchem Chemical Co., an affiliate of Saudi International Petrochemical Company (Sipchem), has commenced commercial operations at its polybutylene terephthalate (PBT) plant in Jubail Industrial City as of July 1.

4) Bupa Arabia for Cooperative Insurance (Bupa Arabia) renewed an agreement with Saudi Basic Industries Corporation (SABIC), to provide health insurance services for SABIC employees and their families.

Separately, Saudi Ground Services Co. (SGS) signed an agreement with Bupa Arabia to provide health insurance services for SGS employees and their families.

5) Saudi Real Estate Co.’s (Al Akaria) has approved a 100 percent capital hike to SAR 2.4 billion from SAR 1.2 billion through the issue of one bonus share for every share held.

6) The Mediterranean Gulf Insurance and Reinsurance Co. (MedGulf) has renewed an agreement with Saudi Binladin Group (SBG) to provide health insurance services for SBG employees and their families.

7) Banque Saudi Fransi's (BSF) board of directors has recommended a 9 percent cash dividend for the first half of 2018, at SAR 0.90 per share, amounting to SAR 1.079 billion.

8) Arab National Bank's (ANB) board of directors has recommended a 6.5 percent cash dividend for the first half of 2018, at SAR 0.65 per share, amounting to SAR 650 million.

9) The Capital Market Authority (CMA) has approved a request by Abdulla A.M. Al-Khodari Sons Company to amend its maximum capital increase by converting the approved debt to SAR 1.12 billion instead of SAR 1.02 billion.

10) Saudi Arabia’s gross domestic product (GDP) rose 1.2 percent year-on-year (YoY) to SAR 647.8 billion in Q1 2018, according to the General Authority for Statistics.

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