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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.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

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

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