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Kayan Petrochemical opens SR 6.75bn IPO

03
May '07
The Saudi Kayan Petrochemical Company (SAUDI KAYAN) opened its SR 6.75 billion IPO in the Saudi market on April 28. It will close on May 7. Open only to Saudi nationals at a cost of SR 10 per share, the minimum subscription is 50 shares, while the maximum is 20 million.

The Saudi Basic Industries Corporation (SABIC) and the Saudi Kayan Petrochemical Company are partners in SAUDI KAYAN. Forty five percent of the capital has been offered for public subscription. SABIC holds a further 35 percent of the company's capital and Kayan holds the remaining 20 percent.

SAUDI KAYAN, located in Al-Jubail Industrial City, will have an annual production capacity exceeding 5.6 million metric tons of petrochemical and chemical products.

The company's product profile includes Polymers (HDPE, LDPE and PP), Basic Chemicals (Ethylene and Propylene), Intermediate (EG) and Specialty (Polycarbonates, Ethanolamines, Ethoxylates, Dimethyl Formamide, Choline Chloride, Bisphenol A and Acetone).

Saudi Basic Industries Corporation


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