10 things to watch on Tadawul today

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

1) The Saudi Stock Exchange (Tadawul) announced its transformation into a holding group under the name of “Saudi Tadawul Group” ahead of the planned initial public offering (IPO) this year.

2) Tadawul launched the technical innovation company Wamid, and appointed Mohammed Al-Nory as its chief executive officer (CEO).

3) Saudi Tadawul Group appointed Khalid Al-Hussan as CEO, while Mohammed Al-Rumaih was named as the CEO of Saudi Exchange. 

4) Saudi Cable Co. narrowed net loss after Zakat and tax to SAR 55 million for 2020.

5) Herfy Food Service Co. (Herfy Food) reported estimated net profit after Zakat and tax of SAR 25.5 million for the first quarter of 2021.

6) National Gas and Industrialization Co. (GASCO) announced the company’s new identity and logo, following the approval of the Saudi Authority for Intellectual Property (SAIP).

7) United Wire Factories Co.’s (Aslak) shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2021.

8) Alkhabeer REIT Fund terminated the lease contract signed with the main tenant, Suliman Al-Qadeebi Sons Contracting Co. that leases 100% of Gallery Mall in Tabuk.

9) Tabuk Agricultural Development Co.’s (TADCO) shareholders approved the board’s recommendation on capital hike from SAR 241.77 million to SAR 391.77 million through a SAR 150 million rights issue.

10) Brent crude on Thursday declined 19 cents to reach $62.97 per barrel. WTI crude also decreased 21 cents to reach $59.56/bbl.