Amiantit, Saudi Kayan, Public Transport: Saudi Equity Preview

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

The Tadawul All Share Index rose 0.6 percent to 6,663.48 on Feb. 1.

Saudi Arabian Amiantit Co. (SAAC) : The building materials manufacturer said its board recommended distributing a dividend of 1.25 riyals a share for 2011. The shares rose 2 percent to 18 riyals.

Saudi Kayan Petrochemical Co. (KAYAN) : The unit of Saudi Basic Industries Corp. (SABIC) said it started an unscheduled maintenance of its olefins plant due to a power failure and that production has stopped at its high-density polyethylene plant and dropped at its ethylene glycol, polycarbonate and polypropylene plants. Output will resume in two weeks, it said. The shares were little changed at 16.10 riyals.

Saudi Public Transport Co. (SAPTCO) : The bus operator, known as Saptco, took delivery of 50 Mercedes-Benz Travego buses valued at 58.8 million riyals ($15.7 million). The shares dropped 1 percent to 11 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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