VOL. XLII
No 44
1-November-1999
SAUDI ARABIA
Saudi Commerce Industry Approves Establishment Of Petrochemical Company
Saudi Arabia痴 Ministry of Commerce approved on 25 Octoberthe establishment of the Saudi International Petrochemical Company (SIPC). TheRiyadh-based company will be capitalized at SR500mn ($133mn), and will have10mn shares, each with a nominal value of SR50 divided amongst 73 shareholders.The company痴 shares will not, however, be traded for the first two years.Shareholders include...
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