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Saudi Sabic Gets Regulator OK To Raise Cap 20% Via Bonus Shrs

Saudi Sabic Gets Regulator OK To Raise Cap 20% Via Bonus Shrs
Δευ, 21 Ιανουαρίου 2008 - 05:38
Saudi Basic Industries Corp. (2010.SA), the world's largest petrochemicals maker by market value, Monday received the market regulator's approval to raise its capital by 20% to 30 billion Saudi riyals ($8 billion) from SAR25 billion.
Saudi Basic Industries Corp. (2010.SA), the world's largest petrochemicals maker by market value, Monday received the market regulator's approval to raise its capital by 20% to 30 billion Saudi riyals ($8 billion) from SAR25 billion.

Saudi Basic will issue one-for-five bonus shares to raise the capital, according to a statement on the Saudi bourse website.

The petrochemicals maker said Saturday its fourth-quarter profit rose 12% to SAR6.87 billion and its full-year 2007 profit grew 33% to SAR27 billion. The fourth-quarter profit was below the market expectations of SAR8 billion to SAR9 billion.

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