What you need to know when Tadawul opens today

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

1) Seera Holding Group posted a net profit after Zakat and tax of SAR 189 million for fiscal year (FY) 2019, compared to a net loss of SAR 142 million a year earlier.

2) Saudi Basic Industries Corporation (SABIC) increased its stake in Clariant AG, a Switzerland-based producer of specialty chemicals, to 31.5%.

3) Mulkia Gulf Real Estate REIT Fund will pay a 1.2% cash dividend for the 2-month period from Jan. 1, 2020 until March 1, 2020, at SAR 0.12 per unit, amounting to SAR 7.2 million.

4) The creditors of Saudi Indian Company for Cooperative Insurance Co. (Wafa Insurance) approved the financial reorganization procedure under the Kingdom’s new Bankruptcy Law.

5) The Saudi Stock Exchange (Tadawul) delisted Metlife AIG ANB Cooperative Insurance Co.’s shares as of March 2, 2020.

6) Saudi Company for Hardware (SACO) will build a commercial center on the newly-acquired land plot in Jeddah.

7) Sahara International Petrochemical Company (Sipchem) will shut down the propane dehydrogenation (PDH) unit of its affiliate, Al Waha Petrochemical Co. (Al Waha), for unplanned turnaround maintenance.

8) Riyadh Administrative Court of Appeal upheld the previous ruling of the Administrative Court which rejected Etihad Atheeb Telecommunication Co.’s (GO) claim against the Communications and Information Technology Commission’s (CITC) decision rejecting its request to obtain the unified telecom license.

9) Brent crude on Wednesday gained 79 cents to reach $52.65 per barrel. WTI Crude also increased 71 cents to reach $47.89/bbl.