Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Abdullah Al Othaim Markets Co. reported a net profit after Zakat and tax of SAR 224.8 million for the first half of 2020, up 77% year-on-year (YoY).
2) Taiba Investments Co. reported a net profit after Zakat and tax of SAR 130.4 million for H1 2020, a 62% YoY increase.
3) Saudi Arabian Cooperative Insurance Co. (SAICO) reported a net profit before Zakat of SAR 27.2 million for H1 2020.
4) Arriyadh Development Co. recommended repurchasing a maximum of 10 million of its shares, with a value not exceeding SAR 150 million, to be retained as treasury shares.
5) Dr. Sulaiman Al Habib Medical Group approved the construction of a new maternity and pediatric hospital in Riyadh at an estimated cost of SAR 472 million.
6) NCB Capital will distribute cash dividend to AlAhli REIT Fund (1) unit holders for the six-month period ending June 30, 2020, at SAR 0.125 per unit, or 1.25% initial price per unit.
7) United Electronics Co.’s (eXtra) wholly-owned subsidiary, United Company for Financial Services, received the Saudi Arabian Monetary Authority’s (SAMA) approval to increase capital to SAR 350 million from SAR 150 million.
8) Al-Babtain Power and Telecommunication Co. reported net profit after Zakat and tax of SAR 36.7 million for H1 2020, a decline of 10% YoY.
9) Saudi Ground Services Company signed a joint venture agreement with France’s TLD Group to establish a limited liability company to provide ground handling equipment maintenance services across all KSA airports.
10) Brent crude on Tuesday declined 15 cents to reach $45.22 per barrel. WTI Crude also decreased 17 cents to reach $42.72/bbl.
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