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) The Capital Market Authority (CMA) approved a request by Arabian Internet and Communications Services Co. (stc solutions) to float a 20% stake, or 24 million shares, in an initial public offering (IPO).

2) Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) reported a net profit after Zakat and tax of SAR 5.3 million for the fiscal year ended March 31, 2021, a fall of 62% year-on-year (YoY).

3) Anaam International Holding Group announced that the positive financial impact resulting from the decision of the Committee for the Resolution of Tax Violations and Disputes on accepting some of the company's objections reaches nearly SAR 33 million.

4) Alkhabeer Capital, fund manager of Alkhabeer REIT Fund, announced that it completed the acquisition of Vision College for Education.

5) Gulf Union Alahlia Cooperative Insurance Co. (Gulf Union) received the Saudi Central Bank’s (SAMA) approval on transferring the online insurance activities from Al Ahlia Cooperative Insurance Co. (previously) to Gulf Union Alahlia Cooperative Insurance Co.

6) Al Gassim Investment Holding Co.'s (GACO) shareholders refused to discharge the board members from liabilities for 2020.

7) Nama Chemicals Co.’s shareholders approved the financial statements, as well as board and auditor reports for 2020.

8) Theeb Rent a Car Co.’s shareholders approved financial statements, and board and audit reports for 2020.

9) Knowledge Economic City’s (KEC) shareholders elected a new board for the upcoming three-year term, starting today, July 28, until July 27, 2024.

10) Brent crude on Tuesday declined 47 cents to reach $74.21 per barrel. WTI crude decreased 40 cents to reach $72.51/bbl.