Bloomberg News

Saudi Arabian Equity Movers: Saudi Electricity, Saudi Printing

March 17, 2012

The Tadawul All Share Index (SASEIDX) rose 0.4% to 7,600.57 at the 3:30 p.m. close in Riyadh, the highest level since Sept. 14, 2008.

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

Saudi Electricity Co. (SECO) added 1 percent to 15.65 riyals, the highest price since March 12. Saudi Arabia’s state- controlled power producer’s three Sukuk issues were affirmed AA- by Fitch Ratings. Fitch also affirmed the Riyadh-based company’s long-term issuer default rating and senior unsecured rating AA- with a stable outlook.

Saudi Printing and Packaging Co. (SPPC AB) advanced the most in three weeks, gaining 2.4 percent to 30.10 riyals, after the Riyadh-based company signed a memorandum of understanding to buy a stake of 73.3 percent to 80 percent in Sharjah, U.A.E.- based Emirates National Factory for Plastic Industries.

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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