Sipchem-Sahara merger completes; firm changes name

21/05/2019 Argaam

The Saudi International Petrochemical Co. (Sipchem) has officially changed its name to Sahara International Petrochemical Co. (Sipchem), after completing its merger with
Sahara Petrochemicals Company, the firm said in a bourse statement today.


Accordingly, Sahara shares have been de-listed from Tadawul and the new Sipchem shares have been listed today.


According to data compiled by Argaam, Sahara’s shareholders approved the recommended share swap offer last week, whereby Sipchem would fully acquire Sahara through the issuance of 0.8356 new Sipchem shares for every Sahara share.

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