Here are a few things you need to know as Saudi stocks start trading on Monday.
– Saudi Basic Industries Corp.’s (SABIC) net profit after Zakat and tax declined to SR 40 million ($10.66 million) for fiscal year 2020.
– Saudi Industrial Investment Group (SIIG) reported net profit after Zakat and tax of SR 92 million for FY2020, plunging 85 percent year-on-year (YoY).
– United Wire Factories Co. (Aslak) reported an estimated net profit after Zakat and Tax of SR 62.1 million for FY2020, an increase of 181 percent YoY.
– Yanbu Cement Co.’s board of directors recommended 5 percent capital cut to SR 1 billion from SR 1.575 billion through writing off shares, as the company had excess capital.
– Alkhabeer REIT Fund will pay a 1.25 percent cash dividend for the period from Oct. 1 until Dec. 31, 2020, at SR 0.125 per unit, amounting to SR 12.87 million.
– Jarir Marketing Co. reported a net profit after Zakat and tax of SR 1.002 billion for the fiscal year 2020, a rise of 2 percent YoY.
– Saudi Paper Manufacturing Co. filed a liability lawsuit with the Commercial Court against ex-board member and CEO Hassan Asiree on Jan. 28, 2021.
– Alkhorayef Water and Power Technologies Co. launched the book-building process for its initial public offering (IPO).
– Bawan Company’s 85.5 percent-owned subsidiary, United Transformers Electric Co. Ltd. (Utec Saudi), signed a contract with Algeria-based Industry Technology Electric Co. to sell its entire 49 percent equity stake in Utec Algeria for $8 million (SR 30 million).
– Brent crude on Monday gained 24 cents to reach $55.28 per barrel. WTI crude also increased 13 cents to reach $52.33/bbl.
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