10 things to consider as Tadawul starts trading

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

1) Saudi Arabia’s finance ministry has issued SAR 4.78 billion ($1.27 bln) in domestic sukuk by reopening its monthly sale– originally launched in October– for the second time.

2) Al Rajhi REIT Fund’s initial public offering (IPO) will run from Jan. 1 to Jan. 14, with 42.67 million units on offer at SAR 10 each, fund manager Al Rajhi Capital said.

3) Saudi British Bank’s (SABB) board of directors has recommended a 7.1 percent cash dividend for H2 2017 (SAR 0.71 per share) amounting to SAR 1.065 billion.

4) Saudi Vitrified Clay Pipes Co.’s (SVCP) board of directors has recommended a 15 percent cash dividend for the second half of 2017 (SAR 1.5 per share) amounting to SAR 22.5 million.

5) Najran Cement Co. said its board of directors has decided to suspend the third production line, which has a capacity of 6,500 tons per day, due to the high clinker inventories.

6) The fluctuation limit on Saudi Industrial Export Co. (SIECO) shares after capital reduction will be based on a share price of SAR 146, Tadawul said in a statement.

7) Saudi Cable Co. (SCC) expects to publish its audited financial statements for Q3 2017 within eight weeks, the company said in a statement to Tadawul.

8) Saudi Pharmaceutical Industries and Medical Appliances Corp.’s (SPIMACO) board of directors has appointed Hussain Al Qahtani as vice-chairman of the board.

9) Jarir Marketing Co. has opened a new showroom in Dammam with a total investment of SAR 24 million. The financial impact of the 4,349-square meter showroom will reflect on fourth-quarter earnings.

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