Arabian Pipes, Zain Saudi, Yanbu Cement: Saudi Equity Preview
The following stocks may be active in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.
The Tadawul All Share Index gained 0.1 percent to 6,620.75 on Dec. 29.
Arabian Pipes Co. (APCO AB): The Saudi maker of steel pipes won a 315 million-riyal ($84 million) contract to supply 420 kilometers of pipelines to GS Engineering & Construction Corp. The shares advanced 1.1 percent to 27.3 riyals.
Mobile Telecommunication Co. Saudi Arabia (ZAINKSA AB): A unit of Kuwait’s biggest mobile-phone company known as Zain won a contract valued at 40 million riyals from the Communications and Information Technology Commission. It also announced that it expanded its mobile telephony services in 500 additional residential areas in the kingdom. The shares were unchanged at 7.75 riyals.
Saudi Steel Pipe Co. (SSP AB): The manufacturer of welded pipes won a 108 million-riyal contract in Abu Dhabi to supply pipes to a refinery. The shares climbed 2.3 percent to 24.1 riyals.
Yanbu Cement (YNCCO AB): The Saudi Arabian cement maker said fourth-quarter net income rose to 101 million riyals from 82 million riyals a year ago. The shares fell 0.2 percent to 42.8 riyals.
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