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 Wednesday.

1) Etihad Atheeb Telecommunication Co. (GO) narrowed net losses after Zakat and tax by 46.6% to SAR 38.3 million for the fiscal year ended March 31, 2021.

2) Saudi Industrial Export Co. (SIECO) reported a net loss after Zakat and tax of SAR 2.6 million for the first quarter of 2021.

3) Development Works Food reported net profit of SAR 118,000 for Q1 2021.

4) Bank Aljazira completed the issuance of $500 million Tier I capital certificates, through BAJ Sukuk Tier 1 Ltd.

5) Shareholders of Gulf General Cooperative Insurance Co. (Gulf General) approved the recommendation by the board of directors to increase the company's capital by offering rights issue worth SAR 300 million.

6) Methanol Chemicals Co.’s (Chemanol) shareholders approved a 44% capital cut to SAR 674.51 million from SAR 1.21 billion to restructure the company’s capital and offset accumulated losses.

7) Buruj Cooperative Insurance Co.'s shareholders approved withholding dividend for 2020.

8) Alkhaleej Training and Education Co. inked a non-binding memorandum of understanding (MoU) to acquire 85% of Al-Enjaz National Schools Co. Ltd.

9) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) could not pay the third instalment to its creditors at the time specified in the financial reorganization plan.

10) Brent crude on Wednesday gained 31 cents to reach $75.07 per barrel. WTI crude also increased 44 cents to reach $73.42/bbl.