Jabal Omar, Mobile Telecommunications: Gulf Equity Preview
The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
Jabal Omar Development Co. (JOMAR) : The real-estate developer awarded a 500 million-riyal ($133 million) contract for the construction of a water cooling station in Mecca, Saudi Arabia. The shares fell 1.1 percent to 13.7 riyals.
Mobile Telecommunications Co. (ZAIN KK): Kuwait’s biggest mobile telephone operator known as Zain plans to sell 20 percent of its Iraqi unit in an initial public offering on the Iraq Stock Exchange, Zain Iraq’s Chief Executive Officer Emad Makiya said. The shares retreated 1.9 percent to 1,040 fils.
Kipco Asset Management Co. (KAMCO KK): The Kuwaiti investment banking and financial advisory company plans to repay 20 million dinars ($73 million) of bonds at maturity on June 25, state-run news agency KUNA reported. The shares dropped 2 percent to 250 fils when they last traded June 8.
National Bank of Fujairah PSC (NBF) : The United Arab Emirates-based commercial bank raised a $235 million club loan from seven banks. The two-year facility will be used to finance the bank’s “general business activities,” the lender said. The shares surged 9.9 percent to 3.99 dirhams when they last traded June 1.
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