10 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 sold SAR 5 billion worth of domestic sukuk, after receiving bids for its sixth domestic sukuk issuance under the Saudi Arabian government SAR-denominated sukuk program.

2) National Industrialization Co.'s (Tasnee) is planning a new sukuk worth SAR 2 billion that will mature H1 2019, chief executive Mutlaq Al-Morished told Argaam.

3) Tasnee posted a net profit of SAR 361.4 million for Q1 2018, more than triple year-on-year (YoY), on higher selling prices of titanium dioxide products and lower financial charges.

4) Herfy Food Services Co. posted a net profit of SAR 47.74 million for Q1 2018, a 9.43 percent decrease YoY on higher cost of sales and financing costs, despite increased sales.

5) Dallah Healthcare Co. reported a net profit of SAR 58 million for Q1 2018, a YoY decrease of 31.7 percent, due to the pre-operating and start-up expenses incurred by the company for Dallah Namar Hospital, along with higher operating, administrative and VAT expenses.

6) Arabian Cement Co. reported a net loss of SAR 6.1 million for Q1 2018, compared to a net profit of SAR 100.7 million a year earlier, due to lower gross profit driven by lower sales and selling prices.

7) Filling and Packing Materials Manufacturing Co. (FIPCO) has been awarded a SAR 20.49 million contract by Saudi Basic Industries Corp. (SABIC) to produce and supply plastic bags.

8) Abdullah Al Othaim Markets Co.’s shareholders have approved a 100 percent capital hike to SAR 900 million from SAR 450 million, through the issue of one bonus share for every share held.

Al Othaim’s daily fluctuation limit after the capital increase is based on a share price of SAR 86.86 as of April 24.

9) Northern Region Cement Co.’s general assembly approved withholding cash dividend for the fiscal year 2017.

10) Crude oil prices were flat on Wednesday, with both Brent crude and WTI crude last up 0.01 percent at $73.87/bbl and $67.71/bbl, respectively.

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