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 acquired 100% of Sahara’s shares and another 366.66 million new shares will be issued, according to a bourse statement.

Earlier this week, the Saudi Stock Exchange (Tadawul) announced suspending trade on Sahara Petrochemical Company’s shares starting from Sunday, 14 September.