NO. 25


Saudi Arabia

SAFCO's Capital to Be Raised to $133mn

The Board of Directors of the Saudi Arabian Fertilizer Company (SAFCO) hasdecided to raise the company's capital by one and a half times from SR200mn($53mn) to SR500mn ($133mn) by issuing 3mn new shares of which 2mn will be offered to the Saudi public and 1mn to the existing shareholders as a bonus on aone-for-two basis. According to SAFCO's Chairman, the new shares will be pricedat a nominal value of SR100 ($27)...