SAUDI ARABIA

Maximum Individual Shareholding in SABIC's Raised to 50S000 Shares 

An individual may now own a maximum of 50,000 shares instead of the previous 1,000 shares of the capital of the Saudi Basic Industries Corporation (SABIC), following an amendment to Article 9 of the corporation's charter which was approved last week at an extraordinary meeting of the general assembly. SABIC has an authorized capital of SR10bn divided into 10mn shares of SR1,000 each, and in 1984...