Arabian Pipes Rises Most in 3 Months on $133 Million Contract
Arabian Pipes Co. (APCO), the Saudi Arabian maker of steel pipes, surged the most almost three months after it won a contract valued at about 500 million riyals ($133 million) to supply pipes to Petroleum Development Oman.
The shares surged 7.5 percent, the most since April 2, to 32.80 riyals at 11:23 a.m. in Riyadh.
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