Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) National Shipping Company of Saudi Arabia (Bahri) reported a net profit after Zakat and tax of SAR 43.6 million for Q1 2021, a slump of 90% year-on-year (YoY).
2) Arab Sea Information Systems Co. reported a net loss after Zakat and tax of SAR 353,000 for Q1 2021.
3) Raydan Food Co. widened net losses after Zakat and tax to SAR 83.3 million in 2020.
4) Tourism Enterprise Co.’s (Shams) board of directors amended its capital cut recommendation to 34% from SAR 101.50 million to SAR 66.99 million to offset accumulated losses.
5) Arriyadh Development Co.'s (ARDCO) shareholders approved a 6.5% cash dividend, at SAR 0.65 a share, for the second half of 2020.
6) Abdullah Al Othaim Markets Co.’s (Al Othaim) board of directors approved to form a consortium with Allana International Ltd. and United Feed Manufacturing Co. to offer a joint purchase bid for a flour mill from the two offered for privatization by the Saudi Grains Organization (SAGO).
7) National Agricultural Development Co. (NADEC) entered a term sheet with consortium members - OLAM International Ltd., Al Rajhi International for Investment Co., and Abdulaziz Alajlan & Sons Co. for Commercial and Real Estate Investment - to acquire a flour mill of the two offered for privatization by National Center for Privatization & PPP (NCP) and SAGO.
8) National Agricultural Marketing Co. (Thimar) announced the Commercial Court in Riyadh issued a decision to open the procedures for financial reorganization for the company and appoint a trustee to carry out the financial regulation work.
9) Tabuk Agricultural Development Co.’s (TADCO) rights trading period ended April 19, 2021.
10) Brent crude on Tuesday gained 60 cents to reach $67.65 per barrel. WTI crude also increased 58 cents to reach $63.95/bbl.
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