7 things to watch on Tadawul today

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

1) Non-founding foreign investors – namely swap holders, residents and qualified foreign investors (QFIs) – increased their ownership in the Saudi Stock Exchange (Tadawul) to 3.7 percent in the week ending June 13, from 3.5 percent in the previous week, on net purchases worth SAR 5.054 billion, market data show.

2) Riyadh-based non-bank financial institution Nayifat Finance Company is planning an initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

3) Al Hammadi Company for Development and Investment’s shareholders have elected members of the board of directors for the upcoming three-year term starting on June 22, 2019.

4) Saudi Industrial Export Co.’s (SIECO) board of directors appointed Hatem bin Ahmed Al-Suhaibani as chairman and Ahmed bin Mohammed Al-Orainy as vice-chairman for the new term that started on June 16, 2019 and ends June 15, 2022.

5) National Agriculture Marketing Co. (Thimar) had to postpone its first ordinary general assembly meeting on Sunday due to lack of quorum.

6) Middle East Paper Co.’s (MEPCO) shareholders have approved a distributed 10 percent cash dividend (SAR 1 per share) during the general assembly meeting held on June 16, 2019.

7) Brent crude on Tuesday declined 4 cents to reach $60.90/bbl, while WTI crude also decreased 5 cents to reach $51.88/bbl.