Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Saudi Telecom Co. (STC) reported an interim net profit after Zakat and tax of SAR 8.4 billion for the first nine months of 2020, a marginal increase of 0.7% year-on-year (YoY).
2) Etihad Etisalat Co. (Mobily) reported a net profit after Zakat and tax of SAR 537 million for the first nine months of 2020.
3) The National Company for Glass Industries (Zoujaj) widened net loss after Zakat and tax to SAR 5.1 million in the first nine months of 2020.
4) Shares of BinDawood Holding Co. closed debut trading session at SAR 105.60, up by the highest daily limit of 10% (+SAR 9.6 compared to the listing price).
5) STC will pay 10% cash dividend (SAR 1 per share) to shareholders for the third quarter of 2020 on Oct. 28, 2020, through Banque Saudi Fransi.
6) Abdullah A. M. Al-Khodari Sons Co.’s board of directors approved the resignation of chief executive officer (CEO) Fawwaz Al-Khodari, effective Oct. 20, 2020.
7) Arab National Bank (ANB) commenced the issuance of the second tranche of US dollar-denominated Tier 2 sukuk, subject to market conditions.
8) Saudi Industrial Export Co. (SIECO) signed a SAR 14.42 million contract with the Saudi Export Development Authority (SEDA) to represent local companies in Iraq.
9) Fitaihi Holding Group’s board of directors decided not to renew the term of the retail segment’s executive committee as of Nov. 5, 2020.
10) Brent crude on Thursday declined 18 cents to reach $41.55 per barrel while WTI crude decreased 22 cents to reach $39.81/bbl.
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