Shares of SABIC close at lowest level since May 2020

10/11/2022 Argaam Special

Shares of SABIC close at lowest level since May 2020

Logo of Saudi Basic Industries Corp. (SABIC)


Shares of Saudi Basic Industries Corp. (SABIC) closed today's trading nearly 1% lower to reach their steepest level since May 2020 at SAR 83.90, with a trading volume of around 1.6 million shares.

 

The stock reached its lowest level today, Nov. 10, at SAR 83.

 

Compared to March 2022 peak, the highest level since 2008, the stock dropped 41%.

 

Incepted in 1976, SABIC operates in fields of petrochemicals, agri-nutrients, metals, steel and aluminum, hydrocarbons, advanced plastics industries, and research as well as subordinate services.

 

 

Stock Performance

Annual High (SAR)

141.40

March 7, 2022

Annual Low (SAR)

83.00

Today, Nov. 10, 2022

Historical High (SAR)

252.25

Feb. 16, 2006

Historical Low (SAR)

7.43

July 11, 1994

Highest Traded Volume (mln share)

2101.4

June 14, 2020 (Acquisition of 70% of company’s shares)

 

 The following table shows the company’s key financial indicators:

 

Key Financial Indicators

Earnings Per Share (last 12 months) (SAR)

7.03

Operating P/E (last 12 months) (x)

10.10

Book Value (SAR)

60.96

P/B Ratio (x)

1.38

 

SABIC increased capital five times via a bonus issue to SAR 30 billion, as follows:

 

Capital Changes (SAR bln)

Date

Method

Old Capital

New Capital

Change

2008

Bonus Issue

25.00

30.00

20.0 %

2006

Bonus Issue

20.00

25.00

25.0 %

2005

Bonus Issue

15.00

20.00

33.3 %

2001

Bonus Issue

13.33

15.00

12.5 %

2000

Bonus Issue

10.00

13.33

33.3 %

 

 Saudi Aramco is a major shareholder in SABIC owning a 70% stake.

 

Major Shareholders

Shareholder

Percentage

Saudi Aramco

70%

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