Sahara Petrochemical Company announced today on Tadawul developments of use of December 2011 IPO proceeds up to the end of Q1-2014.
The proceeds have been used according to the prospectus as follows:
|
Description |
Amount in SAR |
|
Net IPO proceeds |
1.46bn |
|
Al-Waha petrochemical Co. |
0 |
|
Sahara & Ma’aden petrochemicals co. |
52.3m |
|
Saudi Acrylic Polymer Co. |
95.1m |
|
Saudi Acrylic Monomer Company |
0 |
|
Neopentyl Glycol |
0.11m |
|
Butanol Project |
74.8m |
|
Utilities and off sites |
164.7m |
|
Administrative expenses related to Sahara Petrochemicals Company for five years |
54.3m |
|
Adjustments Requests to support shared services |
23.6m |
|
Contingency (General) |
10.3m |
|
Rights Issue Shares Financing Cost |
31.9m |
|
Short Term Bridge Loan repayment |
384.8m |
|
Employee Share Incentive Program |
0 |
|
Employee Home Ownership Program Financing Costs |
6.2m |
|
Total amount used of IPO proceeds |
898.2 |
|
Remaining amount |
564.4m |
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