Zamil, Petrochem, Nadec, Mubarrad: Saudi Arabian 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) dropped less than 0.1 percent to 6,811.97 on Feb. 15.
Al Jouf Cement Co. (JOUF) (JOUF AB): The Saudi Arabian maker of the building material raised domestic cement prices 30 percent to 260 riyals a ton after the government imposed a ban on cement exports. The shares fell 0.6 percent to 16.65 riyals.
National Agriculture Development Co. (NADEC) : The board of the Saudi Arabian producer of dairy products known as Nadec recommended paying a 2011 dividend of 0.75 riyals a share. The shares declined 0.3 percent to 30.70 riyals.
Saudi National Petrochemical Co. (PETROCH) : The company also known as Petrochem said its joint venture with Arabian Chevron Phillips Petrochemical Co. is likely to fully start up its Jubail plant in the second quarter. The shares dropped 0.5 percent to 20.75 riyals.
Saudi Transport and Investment Co. (SLTCO AB): The company known as Mubarrad said it took delivery of 27 new trucks, which will affect the company’s financial results in the second quarter. The shares were unchanged at 44.4 riyals.
Zamil Industrial Investment Co. (ZIIC) : The Saudi maker of building materials said its unit won a contract valued at 245 million riyals ($65 million) from Saudi Oger Ltd. to manufacture, supply and erect prefabricated villas for a housing project belonging to the Saudi Arabian National Guard in Riyadh. The shares dropped 1 percent to 30 riyals.
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