Shares of SABIC hit lowest level since May 2020
- Date: 10-Nov-2022
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
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.