Bloomberg News

Saudi Kayan Rises Most in a Month on Commercial Operations Start

October 01, 2011

Oct. 1 (Bloomberg) -- Saudi Kayan Petrochemical Co. rose the most in a month after the unit of Saudi Basic Industries Corp. said it began commercial operations at most of its main plants in Jubail Industrial City as of today.

The shares rallied 1.5 percent, the largest gain since Sept. 3, to 17.25 riyals at the 3:30 p.m. close in Riyadh after trading up as much as 2.4 percent.

The start of commercial operations at six plants will have a positive financial impact on the company in the fourth quarter, the Jubail-based company said in a statement to the Saudi bourse today.

--Editors: Alex Nicholson, Digby Lidstone

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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