Aramco releases Q3 financials; petrochem index rises: Market wrap

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RIYADH: Ƶ’s main market index rose by 0.42 percent on Monday morning to 11,501.19 points.

Following is a wrap of the stock market’s movements as of 11:30 a.m. Riyadh time:

  • Saudi Aramco said it will announce its main financial results and dividends for the Q3 of 2021, before the opening on Sunday, Oct. 31.
  • Batik obtained short-term credit facilities from “Al-Jazeera” amounting to SR101 million. 
  • Maadaniyah also established a valve factory at a cost of SR71 million.
  • SAMA agreed to Wataniya to renew the license to practice insurance activity.
  • Alakaria received a suburban housing project from the general contractor, and the housing units are being handed over to the beneficiaries
  • Alhasoob Trading announced the prospectus for offering its shares in the parallel market, Nomu.
  • Dar Alarkan offered its shares for subscription in preparation for submitting its offering file in Nomu.
  • Aljazira Capital issued its forecasts for the Q3 2021 profits for a number of Saudi banks and listed companies that fall under its coverage, led by Al-Rajhi Bank, SABIC and STC.
  • The general assembly of Taprco agreed to elect a Board of Directors for the next session, and refuses to discharge the members of the Board of Directors from liability for the fiscal year ending in March 2021.
  • Salama Insurance received a letter from the Saudi Central Bank ordering it to appoint an independent consultant to assess its corporate governance.
  • Today marks the disbursement of cash dividends to shareholders of Sasco at a rate of 3 percent per share for the first half of the fiscal year 2021 
  • SSP expects a positive result of SR18.9 million in Q3 as a result of selling the operating assets of one of its subsidiaries.
  • Amiantit signed an agreement to reschedule banking facilities with “Al-Ahly Saudi,” amounting to SR330 million.