Bloomberg News

Saudi Arabian Equity Movers: Zamil Industrial, Petrochem, Nadec

February 18, 2012

Feb. 18 (Bloomberg) -- The Tadawul All Share Index gained 0.3 percent to 6,830.31 at the 3:30 p.m. close in Riyadh.

The following stocks were active in Saudi Arabia’s market.

National Agriculture Development Co. (NADEC AB) climbed 1 percent, the biggest increase since Feb. 1, to 31 riyals. The board of the Saudi Arabian producer of dairy products known as Nadec recommended paying a 2011 dividend of 0.75 riyals a share.

Saudi National Petrochemical Co. (PETROCH AB) gained 1.2 percent, the most since Jan. 29, to 21 riyals. 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.

Zamil Industrial Investment Co. (ZIIC AB) added 0.7 percent to 30.20 riyals, the highest price since Feb. 14. 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.

--Editor: Rob Verdonck

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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