7 things to watch on Tadawul today

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

1) The Saudi Stock Exchange (Tadawul) will be closed on Wednesday, Sept. 23, on the occasion of the Kingdom’s National Day.

2) The Capital Market Authority (CMA) approved a request by Mobile Telecommunication Company Saudi Arabia (Zain Saudi) to reduce its capital to SAR 4.487 billion from SAR 5.837 billion.

3) Al-Samaani Factory for Metal Industries Co. posted a net profit after Zakat and tax of SAR 1.2 million for the first half 2020.

4) Abdulmohsen Alhokair Group for Tourism and Development’s (Alhokair Group) accumulated losses amounted to SAR 130 million, representing 23.6% of capital.

5) Saudi Electricity Co. (SEC) commenced, on Sept. 10, the issuance of dollar-denominated fixed rate RegS senior unsecured international green sukuk.

6) Abdullah Saad Mohammed Abo Moati for Bookstores Co.’s (Abo Moati) shareholders approved a 5% cash dividend for the fiscal year ended March 31, 2020, at SAR 0.50 per share, amounting to SAR 10 million.

7) Brent crude on Friday declined 23 cents to reach $39.83 per barrel whereas WTI Crude increased 3 cents to reach $37.33/bbl.