Al Khodari Sons, Saudi Pharmaceuticals: Saudi Equity Preview

The following stocks may rise or fall in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index (SASEIDX) declined 0.3 percent to 6,546.06 on June 15.

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) : The Saudi Arabian contractor signed two contracts valued at 178.6 million riyals ($48 million) with the Ministry of Municipal and Rural Affairs. A 112.4 million-riyal contract is for road infrastructure in Taif and a 66.2 million-riyal contract is for work on a road intersection in Asir. The shares dropped 2.4 percent to 70.25 riyals.

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO AB): The company known as Spimaco said will raise its stake in its unit, CAD Middle East for Pharmaceutical Industries to 40 percent from 25 percent. It will also grant the unit an interest-free loan valued at 40.7 million riyals. Spimaco also said it will own a 40 percent stake in a $12 million joint venture with Cooper Pharma of Morocco. The shares dropped 0.3 percent to 38.20 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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