Saudi International Petrochemical Company (Sipchem) launched a 2.4 bln riyal (US$660 mln) initial public offering (IPO). Sipchem will offer 30% stake to Saudi investors or 45 million shares at 55 riyals (US$14.67) a share. The IPO closes on September 18. National Commercial Bank is underwriting the IPO along with five other banks.
Earlier this year, Sipchem announced a 4 bln riyal plan to build acetic acid and vinyl acetate plants, along with a carbon monoxide plant. Sipchem currently operates methanol and butanediol plants
11-Sep-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}