Bloomberg News

Saudi Equity Movers: Abdullah Al-Khodari, Takween Advanced

March 03, 2012

The Tadawul All Share Index (SASEIDX) rose for an 11th day, the longest winning streak since August 2005, gaining 0.9 percent to 7,336.21 at the 3:30 p.m. close in Riyadh.

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

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) rose 2.8 percent, the largest gain in a week, to 55.25 riyals. The Saudi Arabian contracting company plans to issue one bonus share for every four held to raise its capital to 531.25 million riyals ($142 million) from 425 million riyals. The company’s board recommended paying a dividend of 0.5 riyals a share for the second half.

Takween Advanced Industries Co. (TAKWEEN) (TAKWEEN AB) surged 10 percent, the largest gain since Feb. 8, to 55 riyals after the board of the Saudi Arabian manufacturer of plastic products proposed distributing a 2011 cash dividend of 1.35 riyals a share.

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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