‎Shares of SABIC hit lowest level since May 2020

‎Shares of SABIC hit lowest level since May 2020

Shares of Saudi Basic Industries Corp. (SABIC) reached their steepest level since May 2020 at SAR 83.

The stock fell 1% with a trading volume of nearly 500,000 shares so far.

Compared to March 2022 peak, the highest level since 2008, the stock dropped 41%.

Incepted in 1976, SABIC operates in fields of petrochemicals, agri-nutrients, metals, steel and aluminum, hydrocarbons, advanced plastics industries, and research as well as subordinate services

The following table shows the company’s key financial indicators:

SABIC increased capital five times via a bonus issue to SAR 30 billion, as follows:

Saudi Aramco is a major shareholder in SABIC owning a 70% stake.