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Alahli Takaful, Petrochem, Thimar: Saudi Arabian Equity Preview

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Dec. 10 (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 rose 0.6 percent to 6,251.92 on Dec. 7.

Alahli Takaful Co. (ATC AB): The Saudi insurance company said its sold 6.6 million shares to existing shareholders compared with offers of 8.5 million. The shares dropped 0.7 percent to 70.25 riyals.

National Agriculture Marketing Co. (THIMAR AB): The company known as Thimar said its board recommended the company’s capital be cut by half to 50 million riyals ($13 million) to write off losses. The shares rose 2.9 percent to 19.05 riyals.

Saudi National Petrochemical Co. (PETROCH AB): The company also known as Petrochem said its joint venture with Arabian Chevron Phillips Petrochemical Co. is expected to start up its Jubail plant for commercial production in the first quarter. The shares rose 0.7 percent to 22.15 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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