Bloomberg News

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

March 24, 2012

The Tadawul All Share Index (SASEIDX) gained 1.8 percent to 7675.61 at 3:30 p.m. in Riyadh, the biggest increase since Aug. 13.

The following companies’ shares were active in Saudi Arabia’s market.

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) advanced the most in three weeks, gaining 1.4 percent to 53.75 riyals.

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.

Nama Chemicals Co. (NAMA) rose 1.9 percent to 16.20 riyals, its highest price since Sept. 2008. 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.

National Shipping Co. of Saudi Arabia (NSCSA AB) rallied 1.7 percent, the largest gain in a week, to 17.75 riyals. 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.

Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO) rose to the highest price since June 2008, gaining 3.4 percent to 48.50 riyals. The company known as Spimaco acquired a 48 percent stake in Ireland’s EirGen Pharma for 19 million euros ($25 million).

To contact the reporter on this story: Mourad Haroutunian in Riyadh at

To contact the editor responsible for this story: Shaji Mathew at

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