Safco, Alhokair, Saudi Investment Bank: 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) rose 0.2 percent to 6,486.41 on Wednesday, Jan. 11.

Almarai Co. (ALMARAI) : Saudi Arabia’s largest food producer by market value plans to issue one bonus share for every 1.353 held to raise its capital to 4 billion riyals ($1.1 billion) from 2.3 billion riyals. Almarai made the clarification after saying on Dec. 7 that the capital will be raised through issuing one bonus share for every 1.739 held. The shares gained 1.3 percent to 99 riyals.

Arab National Bank (ARNB) : The Riyadh-based Saudi lender posted a 22 percent increase in fourth-quarter profit to 368 million riyals from a year earlier as costs fell and income from fees rose. The shares rose 0.4 percent to 27.60 riyals.

Fawaz Abdulaziz Alhokair & Co. (ALHOKAIR AB): The Saudi Arabian clothing retailer’s profit in the quarter that ended Dec. 31 surged 126 percent to 76.5 million riyals on higher sales. The company also recommended a nine-month dividend of 2 riyals a share. The shares rose 0.8 percent to 64.25 riyals.

Qassim Cement Co. (QACCO) : The Saudi producer of the building material posted a 30 percent increase in fourth-quarter profit to 145.9 million riyals, compared with the year-earlier period on higher sales and output. The shares dropped 1.7 percent to 73.50 riyals.

Saudi Arabian Fertilizer Co. (SAFCO) : The unit of Saudi Basic Industries Corp. (SABIC) said fourth-quarter profit rose 25 percent to 1.28 billion riyals on higher product prices, matching analysts’ estimates. The shares advanced 0.9 percent to 175.3 riyals.

Saudi Automotive Services Co. (SASCO) (SACO AB): The company that operates service stations and restaurants sold part of its stake in Industrialization & Energy Services Co. for 38 million riyals, gaining 18 million riyals in profit. The shares rose 1.7 percent to 18.20 riyals.

Saudi Investment Bank (SIBC) : The Saudi lender said fourth-quarter profit plunged 38 percent to 147 million riyals as operating expenses rose. The shares rose 1.3 percent to 16.20 riyals.

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

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

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