Boubyan Petrochemical offloads Aramco's entire ownership for SAR 19.8 mln

12/12/2019 Argaam

 

Boubyan Petrochemical Co. (BPC) sold its entire stake of 3.33 million shares in Saudi Arabian Oil Co. (Saudi Aramco) for KWD 10.2 million (SAR 126 million), the Kuwaiti-listed firm said in a bourse statement.

 

BPC generated KWD 1.6 million (SAR 19.8 million) in profit from the sale, which will be reflected on its financial statements for Q3 ending Jan. 31, 2020.

 

BPC purchased 3.33 million shares in the Saudi giant, for KWD 8.6 million (SAR 106.44 million), Argaam previously reported.

 

For more details about Saudi Aramco IPO

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