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SAUDI ARABIA: Safco to increase capital

August 2012

Saudi Arabian Fertilisers Company (Safco), the kingdom’s second-largest chemical company, plans to raise its capital by one third through a bonus share issue.

Safco, part of Saudi Basic Industries Corporation (Sabic), has also proposed a dividend for the first half of 2012.

The share issue will raise Safco’s share capital to $879.95 million by distributing one bonus share for every three shares held. Safco reported a 0.8 per cent drop in second quarter profit in July.

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