Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) The Saudi Stock Exchange (Tadawul) announced that the listing and trading of Alkhorayef Water & Power Technologies Co. (AWPT) shares will take place on March 1, 2021.
2) Arab National Bank (ANB) reported a net profit before Zakat and income tax of SAR 2.072 billion for 2020, down by 32% year-on-year (YoY).
3) Saudi Steel Pipe Co. (SSP) widened its net loss after Zakat and tax to SAR 34.5 million in 2020.
4) Mouwasat Medical Services Co.’s board of directors recommended a 25% cash dividend for 2020, at SAR 2.5 per share, amounting to SAR 250 million.
5) Taiba Investments Co. reported net profit after Zakat and tax of SAR 98.8 million, declining 43% YoY for 2020.
6) Filing and Packing Materials Manufacturing Co. (FIPCO) reported a net loss after Zakat and tax of SAR 3 million for 2020.
7) Mobile Telecommunication Company Saudi Arabia (Zain KSA) said accumulated losses dropped to SAR 54 million (or 0.60% of the company’s capital) from SAR 1.608 billion (or 27.5% of the company’s capital), upon completing the capital reduction.
8) Brent crude on Friday declined $1.69 to reach $64.42 per barrel. WTI crude also decreased $2.03 to reach $61.50/bbl.