Al Khodari Sons Gains Most Since June 14 After Signing Contracts

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) rose the most in almost two weeks after the company signed a contract valued at 56.7 million riyals ($15 million) with Saudi Arabia’s Ministry of Water & Electricity

The shares surged 3.3 percent, the biggest intraday gain since June 14, to 71.25 riyals at 1:23 p.m. in Riyadh. The benchmark Tadawul All Share Index (SASEIDX) climbed 0.4 percent.

The company also formed a joint venture with Al-Yamama Co. for Trading & Contracting and Al-Kifah Group to bid for a government project in Riyadh and Jeddah.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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