Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Alandalus Property Co.'s shareholders have approved the sale of Alandalus mall and attached hotel in Jeddah for SAR 1.35 billion to a real estate fund managed by NCBC. The company will own units in the real estate fund in return for 70 percent of the deal’s value while the remaining 30 percent of the amount will be received in cash.
2) Alujain Corporation dismissed three board members following the request of a group of shareholders who hold a stake of over 5 percent in the company.
3) Saudi Cable Co. (SCC) has recorded SAR 121 million in accumulated losses, accounting for 29.94 percent of paid-up capital amounting to SAR 404.11 million.
4) Al-Babtain Power & Telecommunications Co. will pay a 10 percent cash dividend (SAR 1 per share) for the first half of 2017 this coming Sept. 10.
5) Saudi Real Estate Co. (Al Akaria) will pay dividend for the first half of 2017 on Wednesday, Aug. 30, 2017.
6) Fawaz Abdulaziz Alhokair Co.’s Q1 earnings were bolstered the Saudi market, which accounted for 85-90 percent of total sales, CFO Mohammed Abbaoui told Al Arabiya TV.
7) Oil prices were lower on Monday. Brent crude was last down 0.1 percent at $52.68/bbl, while WTI crude was slightly negative at $48.50/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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