Sabic, Kayan, Al-Khodari Sons, Medgulf: 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 0.8 percent to 6,797.09 on Feb. 8.
Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) : The Saudi Arabian contracting company won a government contract valued at 57.2 million riyals. The shares advanced 0.5 percent to 52.75 riyals.
Mediterranean & Gulf Insurance & Reinsurance Co. (MEDGULF): The board of the Saudi Arabian insurer known as MedGulf recommending paying a cash dividend of 2 riyals a share for 2011. The shares rose 0.3 percent to 31.70 riyals.
Southern Province Cement Co. (SOCCO) : Saudi Arabia’s second-largest cement producer by market value said it started trial production on a second line at its Tihama plant in the south of the kingdom. Commercial production on the 5,000 tons a day capacity line will start in March. The shares rallied 0.9 percent to 86.75 riyals.
Saudi Basic Industries Corp. (SABIC) : The world’s largest petrochemicals maker known as Sabic, and China Petroleum and Chemical Corp., known as Sinopec, got approval from the government of Trinidad and Tobago to start talks on building a methanol-to-olefins complex, estimated to cost $5.3 billion. The shares gained 0.5 percent to 95.75 riyals.
Saudi Kayan Petrochemical Co. (KAYAN) : The unit of Saudi Basic Industries Corp. said output has resumed gradually in olefins and high-density polyethylene plants after the completion of unscheduled maintenance due to a power failure. The shares rose 0.3 percent to 16.20 riyals.
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