10 things to watch on Tadawul today

Tadawul trading screen

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

1) The boards of directors of Dur Hospitality Co. and Taiba Investments Co. will start preliminary discussions to study a possible merger.

2) Saudia Dairy and Foodstuff Co.’s (SADAFCO) board of directors recommended a 30% cash dividend for the second half of fiscal year 2020-21 ended March 31, 2021, at SAR 3 share, amounting to SAR 96 million.

3) Saudi Arabian Mining Co. (Maaden) completed the pre-operational stage for the facilities of the third ammonia plant at a total value of $900 million (SAR 3.4 billion) in Ras Al-Khair Industrial City. 

4) Batic Investments and Logistics Co. announced that Smart Cities Solutions Company for Telecom and Information Technology, which is 40% owned by Arabian Security & Safety Services Co. Ltd. (AMNCO) - a Batic subsidiary - started the trial run for the first phase of the smart parking project in Dammam.

5) Saudi Research and Media Group’s (SRMG) subsidiary, Taoq Public Relations Co., signed a contract with a commercial company, specializing in publicity, advertising, public relations, provide media and consulting services, and produce multilingual international content.

6) Astra Industrial Group said that the agreement signed between its fully-owned subsidiary, Tabuk Pharmaceutical Manufacturing Co. and Moderna, to commercialize the Moderna COVID-19 vaccine and future variant-specific booster candidates in Saudi Arabia, is valid for three renewable years upon consent of both parties.

7) Al Moammar Information Systems Co. (MIS) renewed and modified SAR 332.5 million worth of Sharia-compliant credit facility with Banque Saudi Fransi (BSF).

8) Bawan Co.'s shareholders approved repurchasing a maximum of three million shares, or no more than 5% of issued capital.

9) Filling and Packing Materials Manufacturing Co.'s (FIPCO) shareholders approved electing members of the board of directors for the new board term, starting Jan.1, 2022 until Dec. 31, 2024.

10) Brent crude on Monday gained 36 cents to reach $73.05 per barrel. WTI crude also increased 36 cents to reach $71.27/bbl.