Commercial Bank of Dubai, Sreco: Equity Preview

The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.

Dubai’s DFM General Index (DFMGI) gained 0.3 percent, while Kuwait Stock Exchange Index declined less than 0.1 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) slid 0.5 percent.

Commercial Bank of Dubai PSC (CBD) : The lender 20 percent-owned by Dubai’s government set terms on a $400 million loan, according to a person familiar with the deal. The bank agreed to pay initial interest of 175 basis points over the London interbank offered rate on the three-year term loan, said the person, who declined to be identified because the transaction is private. The shares rose 3.3 percent to 3.10 dirhams.

Saudi Real Estate Co. (SRECO) : The Riyadh-based developer said its stake in housing lender Dar Al Tamleek was 9.34 percent. The company corrected a statement yesterday that said its stake was 3.4%. The shares dropped 2.5 percent to 23.90 riyals.

To contact the reporters on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net.

To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net.

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