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FINANCIAL NEWS
Saudi’s SAFCO acquires USD222m additional benefit
10 Mar 2015
(MENAFN) Saudi Arabia Fertilizers Company (SAFCO) acquired an approval from kingdom’s Capital Market Authority to raise its capital through USD222 million bonus share issue, Arabian Business reported.
SAFCO, one of the world’s biggest petrochemical firms, is set to raise its capital from USD888 million to USD1.11 billion, according to a filing on the bourse website.
The firm said that it’s ready to propose the bonus share issue, while announcing it would pay a cash dividend of USD0.79 per share for the second half of 2014, down from USD1.59 in 2013.
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