Shares of 6 companies, including Tabuk Agricultural Development Co. (TADCO) and National Gypsum Co., hit their highest level in 52 weeks during Wednesday’s trading session, data compiled byArgaamshowed. Stock Price* Company Price (SAR) Performance in 52 weeks Al Kathiri** 182.00 + 323 % Alasmak 51.40 + 130 % Sharqiyah Dev. 94.40 + 118 % National…
The loan-to-deposit ratio (LTD) in Saudi banks grew by 3% to 87% by the end of June 2020, compared to 83% in H1 2019. Bank loans jumped 13% year-on-year (YoY) to SAR 1.613 trillion at the end of June 2020. Deposits rose 8% YoY to SAR 1.862 trillion in the same period. Loan-to-Deposit (LTD)…
Saudi Electricity Co. (SEC) starts today, Sept. 9, holding calls with fixed income investors in Asia, Europe and the Middle East in preparation for potential issuance of dollar denominated fixed rate RegS Senior Unsecured International Green Sukuk. The company said in a bourse statement that the issuance amount is subject to market conditions and…
Alkhabeer REIT Fund inked a Sharia-compliant financing agreement with Al Rajhi Bank to obtain additional credit facilities, Alkhabeer Capital said in a bourse filing. Therefore, Alkhabeer REIT upped its credit facilities to SAR 1 billion, in return for mortgaging income-generating properties. The credit facilities will go for financing new acquisitions, and will be fully…
Shares of Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) have their ex-dividend today, Sept. 9, 2020. Abo Moati’s board of directors declared a 5% cash dividend or the fiscal year ended March 31, 2020, at SAR 0.50 per share, amounting to SAR 10 million. The payment date will be determined later.
Allied Cooperative Insurance Group’s (ACIG) board of directors approved the resignation of chairman Thamer Abdullah M. Al Rayes, effective Sept. 7, 2020, the insurer said in a bourse filing. Vice chairman Tarek Abdullah Al Rumaim will be the acting chairman until a new one is appointed, the statement added.
Saudi Telecom Co. (STC)is in talks to reduce its non-binding $2.39 billion offer for a stake in Vodafone Egypt, Bloomberg reported, citing sources with knowledge of the matter. In January this year, STC signed a non-binding memorandum of understanding (MoU) to acquire 55% stake in Vodafone’s Egyptian business, according to data compiled by Argaam.…
Here are a few things you need to know as Saudi stocks start trading on Tuesday. 1) National Company for Learning and Education (NCLE) expects to begin operations ofDoha Hills Schools Complexin Dhahran City in 2022-2023 academic year, instead of 2021-2022 academic year. 2) Middle East Healthcare Co. (Saudi German Hospital) signed a lease…
Oil prices edged lower on Tuesday, with Brent crude seeing a slight decline while West Texas Intermediate (WTI) slumped almost 2%. Brent crude, the global benchmark used by most traders, was down 0.1%, at $41.96 a barrel, before markets opened in Saudi Arabia. US West Texas Intermediate crude, meanwhile, fell 1.9% to $39.09 a…
The Saudi Ministry of Human Resourcesand Social Developmentannouncedthis year’sholiday to celebrate Saudi National Day. The public sector employees will get a two-year holiday on Sept. 23-24. On the other hand, the private sector and non-profit organizations will be closed on Thursday, Sept. 23 to commemorate the day.
The market capitalization of the Saudi Stock Exchange (Tadawul) grew by 2.5% week-on-week to SAR 9.091 trillion in the week ending Sept. 3, 2020, according to data issued by the bourse. Foreign investors’ ownership accounted for 2.13% of total market capital, as of Sept. 3. Ownership Value by Nationality Investor Type (SAR bln) Variation…