Sipchem

Saudi International Petrochemical Company (Sipchem)is a Saudi joint stock company owned jointly by private sector investors of Saudi Arabia and GCC countries. It was incorporated on 22 December 1999 with a paid-in capital of SR 500 million. The share capital was initially increased in 2003 by issuing 3 million shares, thereby raising the capital to SR 650 million. Subsequently, in April 2005 the share capital was further raised for the second time by SR 850 million resulting in a total share capital of SR 1.5 billion.