8 things to watch on Tadawul today

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

1) The Saudi Stock Exchange (Tadawul) published the amended listing rules for public consultation for real estate investment trusts (REITs), closed-end investment fund, and exchange-traded funds (ETFs) on the Nomu parallel market.

2) Saudi Aramco’s IPO bonus holding period, the 180 day-period previously set by the oil giant, ends today, June 8.

3) National Building and Marketing Co. (NBM) extended the memorandum of understanding (MoU) to fully acquire Etihad Al Kharj Metal Casting Co. for 3 months until Sept. 7, 2020.

4) Saudi Chemical Co. reported a net profit after Zakat and tax of SAR 38 million for the first quarter of 2020, a 3% year-on-year (YoY) drop.

5) Abdullah A. M. Al-Khodari Sons Co.’s appointed external auditor, Ernst & Young, withdrew from auditing the company’s financial statements for the fiscal year 2018.

6) National Gypsum Co. (NGC) reported a net profit after Zakat and tax of SAR 17.7 million for Q1 2020.

7) Red Sea International Co. widened its net loss after Zakat and tax YoY by 39.4% to SAR 25.1 million for Q1 2020.

8) Brent crude on Monday gained 67 cents to reach $42.97 per barrel. WTI Crude also increased 49 cents to reach $40.04/bbl.