Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Basic Industries Corp.’s (SABIC) net profit after Zakat and tax declined to SAR 40 million for fiscal year 2020.
2) Saudi Industrial Investment Group (SIIG) reported net profit after Zakat and tax of SAR 92 million for FY2020, plunging 85% year-on-year (YoY).
3) United Wire Factories Co. (Aslak) reported an estimated net profit after Zakat and Tax of SAR 62.1 million for FY2020, an increase of 181% YoY.
4) Yanbu Cement Co.’s board of directors recommended 36.5% capital cut to SAR 1 billion from SAR 1.575 billion through writing off shares, as the company had excess capital.
5) Alkhabeer REIT Fund will pay a 1.25% cash dividend for the period from Oct. 1 until Dec. 31, 2020, at SAR 0.125 per unit, amounting to SAR 12.87 million.
6) Jarir Marketing Co. reported a net profit after Zakat and tax of SAR 1.002 billion for the fiscal year 2020, a rise of 2% YoY.
7) Saudi Paper Manufacturing Co. filed a liability lawsuit with the Commercial Court against ex-board member and CEO Hassan Asiree on Jan. 28, 2021.
8) Alkhorayef Water and Power Technologies Co. launched the book-building process for its initial public offering (IPO).
9) Bawan Company’s 85.5%-owned subsidiary, United Transformers Electric Co. Ltd. (Utec Saudi), signed a contract with Algeria-based Industry Technology Electric Co. to sell its entire 49% equity stake in Utec Algeria for $8 million (SAR 30 million).
10) Brent crude on Monday gained 24 cents to reach $55.28 per barrel. WTI crude also increased 13 cents to reach $52.33/bbl.
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