2000 News Story

Stocks issued for new petrochemical company

Minister of Commerce Osama Faqih has announced the establishment in Riyadh of a Saudi joint stock company, the National Petrochemical Manufacturing Company. Its capital is SR 500 million divided into 10 million shares with a nominal value of SR 50 [U.S. $1 = SR 3.75]. All shares have been purchased and the total value paid.