10 things to watch on Tadawul today

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

1) FAS Labs, equally owned by Arabian Centres Co. and Fawaz Abdulaziz Alhokair Co., signed an agreement with valU for Consumer Finance S.A.E. (valU) to sell its 35% stake in FAS Finance to valU.

2) Bupa Arabia for Cooperative Insurance Co.’s board of directors recommended a 45% cash dividend for 2021, at SAR 4.5 per share, amounting to SAR 540 million.

3) Shareholders of Sadr Logistics Co. approved the board’s recommendation to not distribute cash dividends for 2021.

4) Saudi Real Estate Co. (Al Akaria) said the first and second phases of its Al Akaria Park project were fully booked.

5) Saudi Industrial Export Co.’s (SIECO) accumulated losses declined to SAR 20.68 million, or 10.64% of the capital that stands at SAR 194.4 million.

6) Allied Cooperative Insurance Group (ACIG) shareholders elected new board members for a three-year term ending May 17, 2025, but rejected disbursing SAR 1.048 million as a bonus to the board members for 2021.

7) Abdullah Al Othaim Markets Co. opened nine new branches in Q1 2022, increasing its branch network by 7.31% year-on-year (YoY) by the end of the three-month period.

8) Hail Cement Co.’s shareholders will vote on the buyback of 4.9 million shares, during the extraordinary general meeting (EGM) scheduled for June 28.

9) Saudi Automotive Services Co. (SASCO) moved its headquarters from Al Ahsa St. in Riyadh to its building at 7277 King Abdulaziz District, Makkah Al Mukarramah Road (Khurais), Riyadh.

10) Brent crude rose 0.64% to reach $120.27 per barrel. WTI crude gained 0.69% to reach $119.32/bbl.