Bloomberg News

Saudi Printing Gains Most in Week in Riyadh on Plan to Buy Enpi

March 17, 2012

Saudi Printing and Packaging Co. climbed in Riyadh trading after agreeing to buy as much as 80 percent of Emirates National Factory for Plastic Industries.

It rose as much as 4.1 percent to 30.60 riyals, the biggest jump since March 6, and was at 30.20 riyals by 11:48 a.m. in the city. Saudi Printing said in a statement it signed a memorandum of understanding agreeing to buy 73.3 percent to 80 percent of the Sharjah, U.A.E.-based plastics producer known as Enpi.

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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