8 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Monday.

1) Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) is planning to exit its investment portfolio valued at SAR 1.15 billion, as it is currently in need of additional finance for its projects and expansions, CEO Fahad Alkhalaf told Argaam.

2) Sahara Petrochemical Co. signed a revolving loan facility agreement with Al Rajhi Bank at SAR 450 million.

3) Advanced Petrochemical Co.’s board of directors recommended a 7 percent cash dividend for Q2 2018, at SAR 0.7 per share, amounting to SAR 137.8 million.

4) Saudi Arabian Cooperative Insurance Co.’s (SAICO) general assembly approved a 20 percent capital hike to SAR 300 million from SAR 250 million through the issue of one bonus share for every five shares held.

5) Mulkia Gulf REIT’s unitholders on June 7 approved to acquire four new assets, Mulkia Investment Co.

6) United Cooperative Assurance Co.’s (UCA) general assembly approved 18.4 percent capital reduction to SAR 400 million from SAR 490 million through the cancellation of 9 million shares.

7) Saudi Arabian Fertilizers Co.’s (SAFCO) board of directors recommended a 10 percent cash dividend for the first half of 2018, at SAR 1 per share, amounting to SAR 416.7 million.

8) Saudi Grains Organization (SAGO) said the qualification criteria for investors looking to purchase stakes in the Kingdom’s flour mills will be disclosed to the public on June 28.