9 things to watch on Tadawul today

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

1) Almarai Co.’s consolidated net profit after Zakat and tax rose marginally to SAR 385.9 million in the first quarter of 2021.

2) Advanced Petrochemical Co. announced that operations at its polypropylene plant resumed as of March 28, 2021, and operations at its propylene plant restarted as of April 11, 2021, after the completion of scheduled maintenance works.

3) Fawaz Abdulaziz Alhokair Co.’s board of directors approved an arrangement to allocate 8.9% of the share capital of Egyptian Company for Real Estate Development (ECRED), an affiliate, to the benefit of Retail Group Egypt Co., a subsidiary, in consideration of outstanding receivables of EGP 354.7 million (SAR 84.4 million).

4) Arabian Shield Cooperative Insurance Co. entered into a memorandum of understanding (MoU) with Alahli Takaful Co. to begin a reciprocal due diligence process and negotiate the final terms of the potential merger.

5) Saudi Paper Manufacturing Co. signed a SAR 50 million worth of credit facilities contract with Riyad Bank within the corporate sustainability support program offered by the Ministry of Finance.

6) Saudi Tadawul Group announced that the subscription period and rights trading for Tabuk Agricultural Development Co. (TADCO) will start today, April 12, 2021.

7) Chubb Arabia Cooperative Insurance Co.’s (Chubb Arabia) board of directors recommended withholding the distribution of cash dividend for 2020.

8) Saudi Arabian Amiantit Co.’s accumulated losses decreased to SAR 73.32 million, accounting for 22.91% of its capital, as of April 10, 2021.

9) Brent crude on Monday gained 1 cent to reach $62.96 per barrel. WTI crude remained flat at $59.32/bbl.