8 things to watch on Tadawul today

Tadawul trading screen

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

1) Arabian Internet and Communications Services Co. (solutions by stc) completed the book-building process and set the IPO price at SAR 151.

2) The Saudi Exchange (Tadawul) will be closed on Thursday, Sept. 23, on the occasion of the Kingdom’s National Day.

3) Al Hammadi Company for Development and Investment’s board of directors approved the construction of a new hospital to replace the current Al Hammadi Hospital Al Olaya at the cost of SAR 450 million.

4) Saudi Paper Manufacturing Co. (SPM) announced that a preliminary court ruling was issued by Riyadh Court, in the case of suspected manipulation of the company's financial statements in 2017.

5) SABB Takaful Co. announced the renewal of the group care policy worth SAR 3.9 million with Saudi British Bank (SABB), a related party.

6) The board of directors of Wataniya Insurance Co. approved to increase the company's capital through SAR 200 million rights issue.

7) Theeb Rent a Car Co.'s board of directors approved the recommendation to distribute cash dividends at SAR 0.51 per share, or 5.1% of capital, for the first half of 2021.

8) Brent crude on Friday fell 33 cents to reach $75.34 per barrel. WTI crude also decreased 64 cents to reach $71.97/bbl.