AEP Plantations (AEP.L) proposed to implement a share split, subdividing each ordinary share of 0.25 pound sterling into 10 ordinary shares of 0.025 pound each.
The palm-oil producer said Monday that the share split, due to take effect on Thursday when the new shares start trading on the London stock exchange's main market, is intended to improve the affordability of the shares to investors on a per-share basis.
Yanbu Cement (SASE:3060) expects a 4% rise in production cost due to Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco's, adjustment of fuel products prices.The cement maker said that the financial impact was reflected in its first-quarter financial statements, according to a Sunday release. Yanbu Cement added that the impact was mitigated due to its participation in the industrial sector competitiveness program.
Abu Dhabi National Oil Co., d/b/a Adnoc, launched its fourth tender for up to 2 million barrels of Upper Zakum, Umm Lulu, and Das crude for loading between June and August, Reuters reported Friday, citing trade sources.The bidding process will close on June 23, with offers remaining valid until June 25. The sources added that cargoes will be priced against the official selling prices, the Dubai benchmark, or other benchmarks.Adnoc did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Bernstein on Friday raised the price target for oilfield services company Arabian Drilling Co. (SASE:2381) to 115.44 Saudi riyals from 109.30 riyals, while keeping its outperform rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)