Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Filling & Packing Materials Manufacturing Co. (FIPCO) widened its net loss after Zakat and tax threefold to reach SAR 22.3 million for fiscal year 2019.
2) Nomu-listed Al-Omran Industrial Trading Co. submitted a request to transition its shares from the parallel market to the main market via the dedicated electronic system.
3) The Saudi Stock Exchange (Tadawul) approved the listing request of government issued debt instruments from a class already listed, submitted by the Ministry of Finance, with a total value of SAR 673.6 million.
4) Saudi telecom operator, STC, will vote, on April 20, on buying back 5.5 million shares at SAR 300 million.
5) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) narrowed net loss before Zakat by 94.1% year-on-year (YoY) to SAR 1.9 million for the first quarter of 2019.
6) Saudi Arabia Fertilizers Co.’s (SAFCO) shareholders approved the board’s recommendation to distribute a 15% cash dividend, at SAR 1.5 per share, for the second half of 2019.
7) Saudi Industrial Services Co.’s (SISCO) subsidiary, Red Sea Gateway Terminal (RSGT), signed an Islamic financing agreement worth SAR 1.54 billion with Banque Saudi Fransi (BSF) and Al Rajhi Bank.
8) Bawan Co. is currently considering the feasibility of a potential merger between its subsidiaries, United Technology of Electric Substations and Switchgears Co. (USSG).
9) Al Rajhi Bank’s shareholders approved the board’s recommendation to distribute a 15% cash dividend, or SAR 1.5 per share, for the second half of 2019.
10) Brent crude on Tuesday gained 39 cents to reach $23.15 per barrel. WTI Crude also increased $1.23 to reach $21.32/bbl.
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