RIYADH: Here are 6 factors to watch on Saudi bourse before kicking off the trading week:
Sadr Logistics Co.’s SR150 million ($40 million) rights issue offering was slightly undersubscribed with around 0.2 million rump shares, which will be offered starting Dec. 21, 2021.
United Electronics Co., extra, is to complete its first expansion outside the Gulf Cooperative Council by launching a fully owned subsidiary in Egypt with an initial investment of 1 billion Egyptian pounds.
Ataa Educational Co. announced its interim financial results for the three months ended Oct. 31, 2021, in which the company boosted its net profit to SR67.8 million, up 1276 percent from SR4.9 million in the corresponding period last year.
Saudi Enaya Insurance and Amana Insurance invited their shareholders to an extraordinary general meeting to vote on their previously announced merger – both to be held on Jan. 9, 2022.
International Co. for Water and Power Projects, ACWA power, signed a 25-year power purchase agreement for a $108 million wind project owned by the National Electric Grid of Uzbekistan.
Al Hassan Ghazi Ibrahim Co. revised its capital increase through rights issue recommendation, reducing the value of the shares to SR249 million instead of SR250 million.
Last time the market was open
·Last week, Saudi Bourse saw gains for 5 consecutive days.
·Tadawul’s main index TASI last closed at 11,312 points, in contrast to 10,939 points in the prior week.
·The parallel index Nomu hit its highest value in over nine months, reaching 25,954 points.
