9 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) Saudi Industrial Investment Group (SIIG) signed a non-binding memorandum of understanding (MoU) with National Petrochemical Co. (Petrochem) on the share swap ratio and the possible merger structure. 

2) Al Moammar Information Systems Co.’s (MIS) board of directors approved establishing a new 100%-owned subsidiary in Riyadh.

3) Saudi Arabian Mining Co. (Maaden) signed agreements with Thenamaris LNG Inc. and Exmar Marine NV to hire four vessels to transport ammonia produced by the company.

4) Nama Chemicals Co. finalized the sale of its entire stake, or 2 million shares, in Yanbu National Petrochemical Co. (Yansab), for SAR 139.65 million after commissions and value-added tax (VAT).

5) International Company for Power and Water Projects (ACWA Power) successfully completed the book building process for participating categories.

6) Knowledge Economic City’s (KEC) board of directors appointed Mohammad Abdulhameed Al-Mubarak as acting Chief Executive Officer (CEO).

7) Alkhorayef Water and Power Technologies Co. (AWPT) won a contract worth SAR 45.65 million for the operation and maintenance of water networks in Al-Baha region by the Ministry of Environment, Water and Agriculture.

8) Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) said that dividend at 5%, or SAR 0.5 a share, for the fiscal year ended March 31, 2021, will be deposited in shareholders bank accounts, as of Oct. 5, 2021.

9) Brent crude on Wednesday fell $1.18 to reach $77.91 per barrel. WTI crude also decreased $1.13 to reach $74.16/bbl.