What you need to know when Tadawul opens today

09/03/2020 Argaam Special

 

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

 

1) United Electronics Co. (eXtra) recommended a 20% capital hike to SAR 600 million from SAR 500 million through the issue of bonus shares.

 

2) Mouwasat Medical Services Co. reported a net profit after Zakat and tax of SAR 421 million for the fiscal year of 2019, an increase of 17% year-on-year (YoY).

 

3) Saudi Chemical Holding Co. began construction works for an explosives and military products manufacturing facility with a total investment of SAR 1 billion over the next 5 years.

 

4) Advanced Petrochemical Co. will vote on a 6.5% cash dividend for Q4 2019, at SAR 0.65 a share, during the general assembly meeting to be held on March 31.

 

5) Almarai Co. will vote on a board recommendation to distribute an 8.5% cash dividend,  at SAR 0.85 per share, amounting to SAR 850 million for FY2019.

 

6) Tihama Advertising and Public Relations Co. will vote on capital hike to SAR 175 million from SAR 75 million through SAR 100 million rights issue during the extraordinary general meeting on March 29.

 

7) Aljazira Mawten REIT Fund signed a contract with Star Link Real Estate Co. to operate, maintain, and provide marketing services to its warehouses in Jeddah.

 

8) National Petrochemical Co. (Petrochem) announced that its subsidiary, Saudi Polymer Company, signed financial agreements to refinance its existing project financing loan of SAR 3 billion with Samba Financial Group and Riyad Bank.

 

9) Saudi Vitrified Clay Pipes Co.’s (SVCP) net profit after Zakat and tax jumped 100% YoY to SAR 8.8 million for FY2019.

 

10) Brent crude on Monday declined $13.77 to reach $31.50 per barrel. WTI Crude also decreased $13.69 to reach $27.59/bbl.

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