Kingdom, Zain Saudi Arabia, Saudi Advanced: 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 gained 0.1 percent to 6,611.6.
Kingdom Holding Co. (KINGDOM AB): The investment company controlled by Saudi billionaire Prince Alwaleed Bin Talal said it awarded a design deal for “Kingdom Riyadh Land” to Omrania. The shares fell 2.9 percent to 10.2 riyals.
Mobile Telecommunications Company of Saudi Arabia (ZAINKSA AB): Bahrain Telecommunications Co. said it submitted an offer to acquire Zain Group’s 25 percent stake in Zain Saudi Arabia, a united of Kuwait’s Zain. The shares were unchanged at 7.9 riyals.
Mohammad Al-Mojil Group (MMG AB): The provider of services to the construction industry signed a partnership agreement with 3W Networks to start a 500,000 riyals joint venture. The shares retreated 0.3 percent to 17.60 riyals.
Saudi Advanced Industries Co. (SAIC AB): The Riyadh-based company that manufactures airplane parts said operations started in its unit Obeikan Glass Co. The shares were unchanged at 13.2 riyals.