Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Saudi Kayan Petrochemical Co. (Saudi Kayan) widened its net loss after Zakat and tax by 100.9% to SAR 943.1 million for the first nine months of 2020.
2) Saudi Arabian Fertilizer Co. (SAFCO) reported a net profit after Zakat and tax of SAR 1.06 billion for 9M 2020, a 6% decline year-on-year (YoY).
3) Saudia Dairy & Foodstuff Company (SADAFCO) reported a net profit after Zakat and tax of SAR 140.7 million for the six-month period ending Sept. 30, 2020, a rise of 14% YoY.
4) The Saudi Stock Exchange (Tadawul) announced the shares of BinDawood Holding Co. will be listed and traded from today, Oct.21, under the symbol 4161 and a 10% daily price fluctuation limit per share.
5) Yamama Cement Co. reported a net profit after Zakat and tax of SAR 249.6 million for 9M 2020, a 39.7% rise YoY.
6) Jadwa Investment Company announced that the effective date of the basic changes to the terms and conditions of Jadwa REIT Al Haramain Fund, based on the approval of the unit owners, will be on Nov. 3, 2020.
7) The Mediterranean and Gulf Insurance and Reinsurance Co.’s (MEDGULF) board of directors approved the resignation of vice chairman Abdulaziz Al-Abduljabar, effective Oct. 20.
8) Lazurde Company for Jewelry appointed Samba Capital & Investment Management Co. as a financial advisor to manage subscription to rights issue.
9) Abdullah A. M. Al-Khodari Sons Co. appointed Ali BuSaleh as Chief Operating Officer (COO).
10) Brent crude on Wednesday declined 22 cents to reach $42.94 per barrel while WTI crude increased 63 cents to reach $41.46/bbl.