10 things to watch on Tadawul today

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

1) Savola Group posted net profit after zakat and tax of SAR 6.3 million for Q1 2019 versus a net loss of SAR 84.3 million a year earlier, backed by higher gross profit and a decline in the group's loss share from affiliates.

2) The Saudi Stock Exchange (Tadawul) plans to implement a “Trade at Last” session as an additional new session following the closing auction from next Sunday.

3) Middle East Paper Co. (MEPCO) posted a plunge of 79.4 percent year-on-year in Q1 2019 net profit after zakat and tax to SAR 5.8 million due to a decline in selling prices and an increase in selling and distribution expenses.

4) Saudi Industrial Services Co.’s (SISCO) shareholders have approved a 4 percent cash dividend for the fiscal year of 2018, during the general assembly meeting held on May 7, 2019.

5) Maharah Human Resource Co. began offering 1.125 million shares, or 10 percent of its initial public offering (IPO) to retail investors yesterday at SAR 69 per share.

6) Alujain Corp. expects financial statements of Q1 2019 to be delayed, the company said in a bourse statement on Wednesday.

7) Saudi Arabian Fertilizers Co. (SAFCO) has launched commercial operations at its SAFCO 3 plant after implementing the reliability improvement project and scheduled maintenance.

8) Saudi Chemical Co.’s board of directors approved a capital hike for the firm's fully-owned subsidiary, Saudi Chemical Co. Ltd., to SAR 50 million from SAR 1 million.

9) Saudi Steel Pipe Co.’s shareholders have approved transferring SAR 126.79 million from share premium account to offset accumulated losses account as of Dec. 31, 2018 during the general assembly meeting held on May 7, 2019.

10) Brent crude on Thursday declined 55 cents to reach $69.82/bbl, while WTI crude also decreased 47 cents to $61.65/bbl.