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Dar Al Arkan, Wataniya, Al-Khodari Sons: Saudi Equity Preview

Dec. 4 (Bloomberg) -- 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 on Dec.1 rose 0.4 percent, to 6,344.88.

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR AB): The Saudi contractor won an order valued at 90.9 million riyals ($24.2 million) from Saudi Arabian Mining Co. to construct buildings in Maaden’s aluminum plant in Ras Al Zour on the Persian Gulf. The shares soared 6.3 percent to 49.2 riyals.

Dar Al Arkan Real Estate Development Co. (ALARKAN AB): Saudi Arabia’s biggest developer by market value said it can repay 7.8 billion riyals of debt maturing within five years without tapping the bond market again. The company plans to raise money by selling residential properties and land in its portfolio, General Manager Saud Al Gusaiyer said in an interview in Riyadh. The shares rose 2.3, the most in four months, to 8.95 riyals.

Wataniya Insurance Co. (WATANIYA AB): The Saudi insurer was assigned with “BBB” ratings and stable outlook by Standard & Poor’s. The shares were unchanged at 46.2 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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