9 things to watch on Tadawul today

Tadawul trading screen

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

1) The Saudi Investment Bank (SAIB) reported a net profit of SAR 1.061 billion for 2021, a rise of 8% year-on-year (YoY).

2) Saudi Automotive Services Co.'s (SASCO) board of directors agreed to sign a binding memorandum of understanding (MoU), ending June 30, 2022, with AlJazira Capital to sell 10 of its owned sites for SAR 400 million.

3) Leejam Sports Co.’s (Fitness Time) board of directors appointed Adnan Al-Khalaf as the new Chief Executive Officer (CEO).

4) Abdullah Al Othaim Markets Co. posted a net profit after Zakat and tax of SAR 305.1 million in 2021, down 32% YoY.

5) Arabian Pipes Co.’s board of directors decided to amend its recommendation related to reducing the company's capital, followed by an increase through offering right issue shares.

6) Tihama Advertising and Public Relations Co.’s board of directors amended its capital increase proposal to the extraordinary general meeting (EGM).

7) Astra Industrial Group announced that its 65%-owned subsidiary Al Tanmiya for Steel Industries signed a conditional agreement with Alghad Almutkamel for General Trading, Iron and Steel Metallic Industries to exit its investment in the 100%-owned Al Anmaa Co. for Constructional Material Production Ltd., which owns steel and power plants in Iraq.

8) Al Baha Investment and Development Co.’s shareholders elected members of the board of directors for the upcoming three-year term starting on Feb. 10, 2022.

9) Brent crude on Wednesday gained 19 cents to reach $90.97 per barrel. WTI crude also increased 14 cents to reach $89.50/bbl.