Bloomberg News

National Shipping, Spimaco, Al-Khodari: Saudi Equity Preview

March 24, 2012

The following companies’ shares may be active in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index (SASEIDX) gained 0.3% to 7,540.27 on March 21.

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) : The Saudi construction company signed an agreement with Samba Financial Group for 968 million riyals ($258 million) in Islamic credit facilities to fund capital requirements and projects.

Separately, Al-Khodari signed five joint venture agreements with Abdullatif M. Al Arfaj and Brothers Holding Co. to bid for developing five hospitals. The shares rose 0.5 percent to 53 riyals.

Nama Chemicals Co. (NAMA) : The Saudi Arabian petrochemical company said its Jubail Chemical Industries Co. unit obtained a loan valued at 208.7 million riyals from the Saudi Industrial Development Fund. The shares gained 1.3 percent to 15.90 riyals.

National Shipping Co. of Saudi Arabia (NSCSA AB): The operator of crude oil and chemical tankers got a contract valued at 50.6 million riyal from Qatalum to ship aluminium shipments from Qatar to the U.S. The shares advanced 0.6 percent to 17.45 riyals.

Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO) : The company known as Spimaco acquired a 48 percent stake in Ireland’s EirGen Pharma for 19 million euros ($25 million). The shares rose 0.6 percent to 46.90 riyals.

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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