Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) on 30 September 2020 completed the first stage of purchasing its own shares and allocated them as treasury shares.
The firm bought 2.501 million shares at a total value of SAR 39.017 million, at an average purchase price of SAR 15.60 per share, according to a bourse filing on Sunday.
Sipchem currently holds 2.501 million treasury shares.
These shares purchases are not expected to have any material impact on Sipchem’s financial results, the company said, adding that the number of purchased shares during the first phase does not include the 1.053 million employees’ incentive programme shares.
