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Ataa Educational signs acquisition deal to buy 52% in Al Wasat National Schools


Ataa Educational Co. signed a 52 percent acquisition agreement with Al Wasat National Schools for Training and Education Co. (a limited liability firm), in exchange for land presented by Ataa, by transferring of land ownership in favor of Al Wasat National Schools (the subject of acquisition).
The company said in a statement to Tadawul that the procedures of the study of financial due diligence were completed by an independent consulting office.
Ataa expects that the financial impact of the acquisition will appear, starting from the fourth quarter of the current financial year ending on July 31, 2021.
The agreement is subject to the approvals of the General Authority for Competition and other regulatory specialized parties to complete it. ....

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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 Wednesday.
1) Advanced Petrochemical Co.’s (Advanced) board of directors recommended a 6.5 percent cash dividend for the fourth quarter of 2020, at SR0.65 ($0.17) per share, amounting to SAR 140.7 million.
2) Al Yamamah Steel Industries Co. posted a net profit after Zakat and tax of SR50.7 million for the fiscal year ending on Sept. 30, 2020.
3) Samba Financial Group’s board of directors approved the resignation of Rania Mahmoud Nashar from the position of Group CEO, effective Jan. 31, 2021.
4) Saudi Industrial Investment Group’s (SIIG) board of directors recommended a 5 percent cash dividend for the second half of 2020, at SR0.5 per share. ....

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7 things to watch on Tadawul today


1) Riyad REIT Fund signed a SR540 million ($144 million) Shariah-compliant facility agreement with Riyad Bank.
2) Ataa Educational Co. reported a net profit after Zakat and tax of SR4.9 million for Q1 2020/21 ending Oct. 31, 2020.
3) Danube Company for Foodstuffs and Commodities (Danube), a 99 percent-owned subsidiary of BinDawood Holding Co., signed a lease agreement with a real estate development firm in Bahrain to open a Danube hypermarket.
4) Abdullah Al Othaim Markets Co. opened a new store in Riyadh, bringing the total number of branches across Saudi Arabia to 250.
5) Al Gassim Investment Holding Co.’s (GACO) shareholders are set to vote, on Dec. 30, on withholding dividend for the fiscal year 2019. ....

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