9 things to consider as Tadawul starts trading

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

1) Saudi Arabia’s Ministry of Finance has signed new agreements for financing 17 health, education and hotel projects, at a total value of SAR 755.8 million and total investments of SAR 1.5 billion.

2) Saudi Arabia's Public Investment Fund (PIF) is planning to raise between $6 billion and $8 billion from banks to help support the Kingdom’s economic transformation plans, Reuters reported.

3) Abdulmohsen Alhokair Group for Tourism and Development (Al Hokair Group) reported a net loss of SAR 4.4 million for H1 2018, compared to a net profit of SAR 22.8 million a year earlier, attributed to weak market demand from individual and corporate clients as well as fiercer market competition.

4) United International Transportation Co. (Budget Saudi) reported a net profit of SAR 80.4 million for H1 2018, a 5.5 percent year-on-year (YoY) decrease attributed to lower revenue.

5) National Medical Care Co. (Care) reported a net profit of SAR 45.9 million in H1 2018, an increase of nearly 31 percent YoY due to a decrease in the cost of revenues.

6) Al Yamamah Steel Industries Co. reported a net profit of SAR 5.4 million for the nine-month period ending on June 30, 2018, a plunge of 94 percent YoY due to lower profit margins and decline in sales.

7) Middle East Paper Co. (MEPCO) reported a net profit of SAR 56.99 million for the first half of 2018, more than double YoY, driven by higher sales revenue and lower financing costs.

8) Saudi Pharmaceutical Industries and Medical Appliances Co.’s (SPIMACO) board of directors has recommended a 5 percent cash dividend for H1 2018, at SAR 0.5 per share, amounting to SAR 60 million.

9) Samba Capital & Investment Management Company (Samba Capital) has signed agreements with seven receiving banks for Leejam Sports Company's initial public offering (IPO), which begins today.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com