Mobily, Zain Saudi, Basic Chemical: Saudi Equity Preview
The following stocks may be active in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.
The Tadawul All Share Index (SASEIDX) rose 0.2 percent to 6,476.86 on Jan. 21.
Al-Babtain Power & Telecommunication Co. (ALBABTAI AB): The Riyadh-based company said it has filed a final, unconditional offer to acquire all assets of Petitjean SAS of France. A court will make a decision regarding the offer on Jan. 31, the company said. The shares dropped 0.8 percent to 25.50 riyals.
Basic Chemical Industries (BCI) : The Saudi chemicals maker’s board recommended to distribute a 2011 dividend of 1 riyal a share. The shares fell 1.5 percent to 27.20 riyals.
Etihad Etisalat Co. (EEC) : The board of Saudi Arabia’s second-largest phone company, also known as Mobily, recommended paying quarterly dividends for fiscal 2012. The shares rose 1.8 percent to 56 riyals.
Zain Saudi Arabia (ZAINKSA) : The unit of Kuwait’s Mobile Telecommunications Co. said investors approved the extension of its 9.75 billion-riyal ($2.6 billion) Murabaha facility for an additional six months. The shares advanced 0.8 percent to 6.15 riyals.
To contact the reporter on this story: Mourad Haroutunian in Riyadh at firstname.lastname@example.org
To contact the editor responsible for this story: Shaji Mathew at email@example.com