|29 August, 2019

Saudi Chemical receives investments

The increase in the company’s capital will be funded by provisions and retained profits, the top official added.

Riyadh – Mubasher: Saudi Chemical Company’s pharmaceutical sector has received SAR 180 million investments, while investments pumped into the company’s explosives sector reached SAR 200 million, managing director, Mohammed Al Badr, told CNBC.

The increase in the company’s capital will be funded by provisions and retained profits, the top official added.

In September, the general assembly of the Tadawul-listed company will discuss a proposed 33% capital hike, which – if approved – will increase capital to SAR 843 million.

Saudi Chemical Company’s net profit after zakat and tax grew 11.15% year-on-year to SAR 30.9 million during the second quarter of 2019.

Source: Mubasher

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