MIDEAST STOCKS-Savola, Almarai drag down Saudi, Qatar sold by foreign investors:
"Shares of Saudi Arabia’s top food producers, Savola and Almarai, fell on Wednesday after Savola said it was selling a small stake in the dairy maker, while Qatar’s bourse closed at a 52-month low as foreign funds continued to exit.
The Riyadh index fell 0.3 percent with Savola declining 1.8 percent to 46.55 riyals, after initially surging to an intra-day high of 49.60 riyals in the opening minutes of the session.
Savola said it was selling a 2 percent stake in Almarai for 1.12 billion riyals ($308 million) through an accelerated book-building process, with 16 million shares on offer at 70 riyals each."
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