9 things to consider as Tadawul starts trading

13/08/2018 Argaam
by Nadeshda Zareen

 

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

 

1) Etihad Etisalat Co. (Mobily) is following a carefully designed seven-year plan to restructure and reduce its debts, chief executive Ahmed Abou Doma told Argaam.

 

2) Middle East Paper Co.’s (MEPCO) market share rose to 22.5 percent in the second quarter of 2018, chief executive Sami Al Safran told Argaam.

 

3) Leejam Sports Company’s initial public offering (IPO) was 245 percent oversubscribed, according to Samba Capital, the financial advisor, bookrunner, lead manager and sole underwriter of the IPO.

 

4) Alujain Corp.’s net profit more than tripled year-on-year (YoY) in H1 2018 to around SAR 126.5 million, as profit share from associate NATPET increased by SAR 51.3 million.

 

5) Middle East Healthcare Co. (MEAHCO) said construction of the new Saudi German Hospital in Dammam was 38 percent complete.

 

6) Sahara Petrochemical Co.’s board of directors has recommended a 5 percent cash dividend for the first half of 2018, at SAR 0.5 per share, amounting to SAR 219.4 million.

 

7) Amana Cooperative Insurance Co. has received final approval from the Saudi Arabian Monetary Authority (SAMA) for its proposed SAR 100 million capital hike to SAR 240 million.

 

8) Saudi Enaya Cooperative Insurance Co. said it received SAMA’s approval to appoint a financial advisor to submit a final report related to fixing irregularities.

 

9) Saudi Arabia's non-oil private sector growth remained steady in July, supported by a sharp increase in output and new orders although at a slightly slower rate than June, Emirates NBD said in a new report.

 

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

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