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Al-Babtain, Halwani Brothers, Saudi Cable: Saudi Equity Preview

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Jan. 7 (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 declined less than 0.1 percent to 6407.87 on Jan. 4.

Al-Babtain Power & Telecommunication Co. (ALBABTAI AB): The Riyadh-based company said it submitted an offer to buy “substantially all” of the assets of Petitjean SAS of France. The shares dropped 2.3 percent to 26.1 riyals.

Halwani Brothers Co. (HB AB): The Saudi food processing company announced that it started the commissioning of the first phase of a project to increase its meat processing capacity in Egypt by 50 percent. The shares fell 1.8 percent to 56 riyals.

Nama Chemicals Co. (NAMA AB): The Saudi Arabian petrochemical company said it may spend 233 million riyals ($62.1 million) from its capital increase on projects, including 109 million riyals to double production to 120,000 tons at its epoxy plant. The shares declined 1 percent to 10 riyals.

Saudi Cable Co. (SCACO): The Saudi cable and reel maker said it won an order of more than 100 million riyals to supply extra high voltage cables to TEIAS of Turkey. The shares dropped 1.8 percent to 13.85 riyals.

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.

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