9 things to watch on Tadawul today

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

1) Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) shareholders approved the capital increase by 90.75% through offering a SAR 7.95 billion rights issue.

2) Shareholders of Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) approved the board’s recommendation to pay a cash dividend at 6% of capital, or SAR 0.60 a share, for 2021. 

3) Ataa Educational Co. reported a net profit after Zakat and tax of SAR 71.3 million for the first nine months of 2021/22 ending on April 30, 2022, a sharp rise from SAR 17.7 million in the year earlier period.

4) Alkhorayef Water and Power Technologies Co. (AWPT) signed a contract for four water quality improvement projects in the Eastern Province, with the Ministry of Environment, Water and Agriculture.

5) AWPT signed a Shariah-compliant financing agreement worth SAR 256.97 million with Riyad Bank.  

6) Saudi Industrial Development Co. (SIDC) was notified by its lawyer that the appeal court annulled a previous ruling by the court of first instance affirming its judgment on rejecting an interpretation request, which was jointly filed by Juhayna Trading, Industry and Contracting Co. and Abbas Abdel Gawad for the payment of amounts ordered for SIDC.

7) Musharaka REIT Fund signed a binding lease contract with one of the global logistics companies to rent the entire area of Al Baraka warehouses.

8) Maharah Human Resources Co. received the renewal of its business license from the Ministry of Human Resources and Social Development (HRSD).

9) Brent crude fell 0.86% to reach $122.01 per barrel on Friday. WTI crude lost 0.69% to reach $120.67/bbl.