Sipchem completes first phase of SR46.48 mln share purchasing

Sahara International Petrochemical Co. (Sipchem) completed (first phase) on 16/06/2022 of purchasing its own shares and holding them as treasury shares, which is in line with the approval of the Extraordinary General Assembly held on 18/4/2022 and announced in Tadawul on 19/4/2022.

The company added in a statement on Tadawul that number of the purchased Shares is 937060, and the value is amounted to SR          46,480,215.5, while the average Purchase Price Per Share amounted to SR 49.20.

Additional Information:

As a result of the above shares purchases, Sipchem currently holds (7,108,210) treasury shares with average share price of SAR 20.59.

These shares purchases are not expected to have any material financial impact on Sipchem’s financial results.