Chemanol shares hit 7-year high, gains over 120% in a year

Logo of Methanol Chemicals Co. (Chemanol)

Shares of Methanol Chemicals Co. (Chemanol) hit their highest level since 2014 at SAR 28.80 today, July 11.

The stock closed over 5% higher at SAR 28.55, with nearly 14.2 million shares traded.

Accordingly, Chemanol jumped 120% in one year.

Established in 1989, under the name of Saudi Formaldehyde Chemical Co., the company was the first private sector petrochemicals company in the GCC.

The company’s name was changed to Methanol Chemicals Co. following its listing on the Saudi Stock Exchange (Tadawul) in 2008.

Chemanol manufactures high-quality methanol derivatives, such as formaldehydes, hydrated urea, formaldehyde derivatives and premium plastics, in addition to various amino resins, which in turn serve many diverse industries such as agriculture, automobiles, pharmaceuticals, and construction.

The firm amended its capital only once, as it was cut from SAR 1.2 billion to SAR 674.5 million to fully offset its accumulated losses.

 The following table shows the most important financial indicators of the company: