Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Yanbu National Petrochemical Co. (Yansab) reported a net profit after Zakat and tax of SAR 344.9 million for the first nine months of 2020, a slump of 63% year-on-year (YoY).
2) Thob Al Aseel Co. posted a net profit after Zakat and tax of SAR 75.8 million for 9M 2020, a rise of 9% YoY.
3) Saudi Vitrified Clay Pipes Co. (SVCP) reported a net profit after Zakat and tax of SAR 9.2 million for 9M 2020.
4) Saudi Basic Industries Corp. (SABIC) plans to expand the scope of its Crude Oil to Chemicals (COTC) project with Saudi Aramco.
5) The Saudi Stock Exchange (Tadawul) will begin today, Oct. 19, 2020, the subscription period and tradable rights trading for Mobile Telecommunication Company Saudi Arabia (Zain Saudi).
6) Banque Saudi Fransi announced its plan to issue SAR denominated additional Tier 1 Sukuk, with the purpose to strengthen the bank’s capital base.
7) Jadwa REIT Al Haramain Fund unitholders approved amending the percentage of asset allocation in Makkah and Madinah to 60% of the fund's total asset value.
8) SVCP terminated the memorandum of understanding (MoU) signed earlier to acquire 75% of Advanced Piping Solutions Co. “amicably”.
9) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) appointed Abdul-Wahab Ahmed Abed and Hassan Mohamed Al-Omari as independent board members.
10) Brent crude on Monday declined 16 cents to reach $42.77 per barrel. WTI crude also decreased 15 cents to reach $40.73/bbl.
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