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10 things to watch on Tadawul today


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

1) Fawaz Abdulaziz Alhokair & Co. obtained commercial franchise rights from France-based sporting goods and equipment provider, Decathlon Co., for 10 years from opening the first store.

2) Shareholders of Saudi Paper Manufacturing Co. (SPM) approved, on Dec. 6, the capital increase through SR100 million ($26.66 million) rights issue.

3) Saudi Arabian Amiantit Co. (Amiantit) said subscription to new shares and rights trading began on Dec. 7, 2020.

4) Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) board of directors approved the resignation of the board director and CEO, Nasser Damsheq Al Mahasher, effective Jan.1, 2021.

5) Tabuk Agricultural Development Co.’s (TADCO) board of directors amended its recommendation on increasing capital to SR150 million instead of SR100 million through offering rights issue shares.

6) Lazurde Co. for Jewelry’s board of directors amended its recommendation on increasing the company’s capital, seeking a hike by SR145 million instead of SR143.33 million through rights issue shares.

7) Jazan Energy and Development Co. (JAZADCO) inked a binding and conditional agreement to fully acquire Jazel Investments Ltd. for SR410.03 million.

8) Middle East Paper Co.’s (MEPCO) board of directors approved the establishment of tissue paper and hygienic paper jumbo rolls production plant at an estimated cost of SR338 million.

9) Saudi Public Transport Co.’s (SAPTCO) board of directors appointed the chairman and members of government representatives on the company’s board of directors for a period of three years for its next session, starting Feb. 13, 2021.

10) Brent crude on Tuesday declined 35 cents to reach $48.44 per barrel. WTI crude also decreased 31 cents to reach $45.45/bbl.

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Written by Chekmagazine

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