Saudi Basic Industries Corporation (Sabic) is mulling the purchase of a stake in Kiyane petrochemical firm, expected to go public this year. Kiyane has a paid-up capital of SR3.2 billion with almost 60 investors, including Yamamah Cement and Qassim Agricultural Company. Kiyane plans to float 30% of its capital to raise SR3 billion before the end of 2006.
Sabic is estimated to invest SR3.8 billion in the company, representing 38% of capital, which Kiyane was planning to raise through debt.
23-Jan-06 
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