9 things to watch on Tadawul today

Tadawul trading screen

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

1) The Saudi Investment Bank’s (SAIB) board of directors recommended a 33.33% capital hike to SAR 10 billion from SAR 7.5 billion.

2) Arab National Bank’s (ANB) board of directors recommended a 4.5% cash dividend for the second half of 2021, at SAR 0.45 share, amounting to SAR 675 million.

3) Advanced Petrochemical Co.’s (Advanced) board of directors approved a 6.5% cash dividend for the fourth quarter of 2021, at SAR 0.65 per share, amounting to SAR 140.7 million.

4) Dur Hospitality Co. signed a management and operation contract with Accor to manage and operate a luxury tourist resort In Jeddah, under Rixos brand, over a period of 20 years.

5) Saudi Economic and Development Securities Co. (SEDCO Capital), the fund manager of SEDCO Capital REIT Fund, announced the successful completion of the cash subscription process to increase the total asset value of the fund at the upper limit.

6) Saudi Advanced Industries Co. (SAIC) signed a non-binding memorandum of understanding (MoU) with Educational Guide for Training and Education Co. for the possible acquisition of no less than 30% stake in the company.

7) Jarir Marketing Co. (JMC) opened a new showroom in Majmaah governorate at a total investment cost of SAR 30 million.

8) Leejam Sports Co. (Fitness Time) announced opening two men Xpress fitness centers in Riyadh and Dammam.

9) Brent crude on Thursday gained 27 cents to reach $75.56 per barrel. WTI crude also increased 26 cents to reach $73.02/bbl.