Sahara International Petrochemical Co (2310.B)

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News

29 May 2019 09:37 AM Sipchem names Saleh Bahamdan as new CEO

Riyadh – Mubasher: The board of Sahara International Petrochemical Company (Sipchem) has approved the appointment of Saleh Bahamdan as the company’s new CEO during a meeting held on Tuesday, 28 May. The board has also agreed upon appointing …

Board of Directors

21 May 2019 05:50 PM Sipchem changes name after merger

Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) on Tuesday stated that its name will be changed to Sahara International Petrochemical following the merger with Sahara Petrochemical. Under the merger agreement, Sipchem has …

Companies Investments

19 May 2019 09:12 AM Tadawul to delist Sahara’s shares after merger with Sipchem

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Sunday announced suspending trade on Sahara Petrochemical Company’s shares starting from Sunday, 14 September. The Saudi bourse will commence delisting procedure of the company’s …

Mergers and Acquisitions

19 May 2019 08:58 AM Sipchem’s EGM approves boosting capital to SAR 7bn

Riyadh – Mubasher: The Saudi International Petrochemical Company’s (Sipchem) shareholders approved increasing the company’s capital to acquire all the shares of Sahara Petrochemical Company during an extraordinary general assembly (EGM) meeting …

Mergers and Acquisitions

19 May 2019 08:25 AM Sahara Petrochemical’s shareholders approve merger with Sipchem

Riyadh – Mubasher: Sahara Petrochemical Company’s shareholders approved the planned merger with the Saudi International Petrochemical Company (Sipchem) during an extraordinary general assembly (EGM) meeting held on Thursday, 16 May. Under the …

Mergers and Acquisitions

14 May 2019 10:56 PM Sipchem, Sahara eyes M&As in US, Asia after merger

Riyadh – Mubasher: Tadawul-listed Sahara Petrochemicals Co and Saudi International Petrochemical Company (Sipchem) are reportedly planning to close Merger & Acquisition deals in the US and Asia following the completion of their merger. The …

Company News

24 April 2019 08:27 AM Sipchem’s Q1 profit dips 24% on lower sales revenues

Riyadh – Mubasher: Saudi International Petrochemical Co (Sipchem) posted a 24.24% year-on-year profit drop in the first quarter of 2019. Sipchem’s net profits retreated to SAR 114.7 million ($30.59 million) in Q1-19, compared to SAR 151.4 million …

Financial Results

22 April 2019 03:46 PM CMA nods to Sipchem’s capital raise request to acquire Sahara

Riyadh – Mubasher: Saudi Arabia's Capital Market Authority (CMA) approved the Saudi International Petrochemical Co’s (Sipchem) request for raising its capital to SAR 7.333 billion from SAR 3.667 billion. Sipchem will carry out the capital raise by …

Management Decisions

4 April 2019 08:04 AM Sahara Petrochemical, Sipchem amend merger terms

Riyadh – Mubasher: Sahara Petrochemical Co on Thursday announced it has signed an agreement Saudi International Petrochemicals Company (Sipchem) to amend the terms of their merger. The agreement stipulates the appointment of Ahmad Abdulaziz …

Companies Investments

7 March 2019 08:42 AM Sahara Petrochemicals, Sipchem merger may log SAR 175-225m EBITDA/yr

Riyadh – Mubasher: Sahara Petrochemicals Co and Saudi International Petrochemical Company (Sipchem) on Thursday announced that their potential merger may achieve earnings before interest, tax, depreciation and amortization (EBITDA) ranging between …

Mergers and Acquisitions

6 March 2019 09:44 AM Sipchem’s unit resumes plant operation after planned maintenance

Riyadh – Mubasher: Saudi International Petrochemical (Sipchem) on Tuesday announced resuming operation at the plant of International Diol Co after finishing maintenance works. Over the previous period, International Diol Co finished the scheduled …

Management Decisions

13 February 2019 05:22 PM Sipchem to see better demand in Q2 – CEO

Riyadh – Mubasher: Demand on Saudi International Petrochemical Co's (Sipchem) products is expected to rise in the second quarter of 2019, given the improvement in oil prices and the return of demand from China, Sipchem’s CEO Ahmad Al-Ohali said on …

Company News

13 February 2019 08:24 AM Sipchem Q4 profit drops 76%; posts solid annual results for FY18

Riyadh – Mubasher: Saudi International Petrochemical (Sipchem) on Wednesday reported a 75.67% year-on-year decline for the fourth quarter of 2018, recording SAR 40 million from SAR 164 million. On the other hand, Sipchem reported a net profit of …

Financial Results

1 January 2019 04:44 PM Sipchem’s EVA Film Plant starts operation

Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) has announced that EVA Film Plant (EVA), an affiliate of Sipchem owned by Saudi Specialized Products Company (SSPC), has commenced its commercial operations on Tuesday, 1st …

Companies Investments

25 October 2018 02:10 PM Al-Rajhi raises Sipchem TP to SAR 26/shr

Riyadh - Mubasher: Al Rajhi Capital Research has raised the target price (TP) for the stock of Saudi International Petrochemical Company (Sipchem) to SAR 26 per share, with an “Overweight" rating. Sipchem achieved better-than-expected financial …

Stock Evaluations

21 October 2018 07:35 AM Sipchem profits nearly double in 9M

Riyadh – Mubasher: Saudi International Petrochemical (Sipchem) on Sunday posted robust financial results for the nine-month period ended 30 September 2018 and the third quarter of the year. The petrochemical maker achieved a 98.9% surge in net …

Financial Results

30 September 2018 01:16 PM Al Rajhi Bank’s stock tops Tadawul’s blue chips in Q3

By: Thabet Shehata  Riyadh – Mubasher: The banking sector’s stocks on the Saudi Stock Exchange (Tadawul) topped blue-chip peers by the end of the third quarter of 2018, led by Al Rajhi Bank’s stock with 15.13%. The list of 30 heavyweight stocks on …

Trading Activities

25 July 2018 08:48 AM Sipchem profit skyrockets in Q2, H1

Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) on Wednesday reported a 253.51% year-on-year surge in its net profits during the second quarter of 2018.  Sipchem logged a net profit of SAR 211.4 million during the period …

Financial Results

24 July 2018 10:18 AM Sipchem to acquire 25% of International Gases

Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) on Tuesday announced signing a deal with National Power Company (NPC) to acquire the latter’s 25% stake in International Gases Company (IGC), an affiliate of Sipchem. The deal …

Mergers and Acquisitions

1 July 2018 10:38 AM Saudi Sipchem starts commercial operation of PBT plant

Riyadh – Mubasher: Saudi International Petrochemical Co (Sipchem) on Sunday announced the beginning of commercial operation of Polybutylene Terephthalate Plant (PBT) located in its complex in Jubail Industrial City. PBT plants is owned by Sipchem …

Companies Investments

26 April 2018 02:32 PM Sipchem to merge with Sahara ahead of 2018-end – CEO

Riyadh – Mubasher: Saudi International Petrochemical Co (Sipchem) hopes to finalise a merger with Sahara Petrochemicals Company (Sahara) before the end of 2018, CEO Ahmad Al Ohali said. Studies of the consolidation between the two firms are still …

Mergers and Acquisitions

25 April 2018 02:46 PM Sipchem logs SAR 151m profit in Q1

Riyadh – Mubasher: Saudi International Petrochemical Co (Sipchem) on Wednesday reported a 65.1% year-on-year jump in its net profits in the first quarter of 2018. Sipchem’s net profits surged to SAR 151.4 million during Q1-18, compared to SAR 91.7 …

Financial Results

2 April 2018 09:41 AM Sipchem nods to 5% dividends for FY17

Mubasher: The ordinary general meeting (OGM) of the Saudi International Petrochemical Co (Sipchem) approved distributing 5% of the capital as a cash dividend for fiscal year 2017. Sipchem will pay SAR 0.50 per share at a total value of SAR 183.3 …

General Assembly

13 March 2018 07:25 AM Sipchem, Sahara to resume potential merger talks

Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) on Tuesday announced that it was planning to carry on with its negotiations with Sahara Petrochemicals Company (Sahara) concerning their potential merger. Sipchem took the …

Mergers and Acquisitions

11 March 2018 10:20 AM Sipchem mulls more expansion in Saudi, abroad in 2018 – CEO

Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) plans to increase investments in the kingdom and overseas markets in chemicals, manufacturing industries, and small and medium plants, CEO Ahmad Al Ohali said. Saudi …

Corporate Actions