JEDDAH, 8 April 2007 -- Commerce and Industry Minister Dr. Hashem Yamani has licensed the establishment of Saudi Kayan Petrochemical Company with a capital of SR15 billion.
It will have 1.5 billion shares, each with a nominal value of SR10. Kayan's founders have subscribed to 825 million shares valued at SR8.25 billion. The Jubail-based company will float 675 million shares worth SR6.75 billion for public subscription. It will invest in projects in the petrochemical, chemical and other industries.
© Arab News 2007
