7 things to watch on Tadawul today

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

1) Al-Motaqadimah Schools Co. (MSC) plans to float its shares in an Initial Public Offering (IPO) on the Saudi Stock Exchange (Tadawul).

2) Tabuk Cement Co. reported a net profit after Zakat and tax of SAR 38.9 million for the first nine months of 2020.

3) Abdullah Al Othaim Markets Co. suspended the import of all Turkish products and their procurement from local suppliers. 

4) BinDawood Holding Co.’s retail offering was 1,396% oversubscribed, according to NCB Capital, the lead manager of the offering, with Goldman Sachs Saudi Arabia and J.P. Morgan Saudi Arabia Company, as joint-financial advisors.

5) MEFIC REIT Fund will withhold cash dividend for the period Jan. 1 - June 30, 2020, due to tightened liquidity.

6) Saudi Paper Manufacturing Co. (SPM) issued prospectus for its SAR 100 million rights issue through offering 10 million shares.

7) Brent crude on Friday declined 23 cents to reach $42.93 per barrel. WTI crude also decreased 8 cents to reach $40.88/bbl.