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Sipchem falls to lowest level since July 2021
04/03/2024
Argaam Exclusive
Shares of Sahara International Petrochemical Co. (Sipchem) fell today, March 4, to SAR 30.05, their lowest price since July 2021.
| Year High (SAR) | Year Low (SAR) |
| 40.90 | 30.05 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 60.00 | 9.75 |
The stock remained unchanged at the close of today’s session at SAR 30.50 per share, with nearly 2.1 million shares traded.
Market Data :
| Open | 24.56 |
| Low | 24.16 |
| High | 24.60 |
| Previous Close | 24.52 |
| Change (3M) | (15.97 %) |
| Change (6M) | (23.30 %) |
| Market Value | 17,746.59 |
| Avg. Volume (3M) | 1,243,882.89 |
| Avg. Turnover (3M) | 34,302,141.55 |
| Avg. Transaction (3M) | 3,349.34 |
| Change(12M) | (26.56 %) |
| YTD | (28.93 %) |
The company adjusted its capital through acquisitions, bonus shares, and rights issues, as detailed below:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2019 | Private Offering | 7,333.00 | 100.03% |
| 2011 | Split | 3,666.70 | 10.00% |
| 2008 | Right Issue | 3,333.00 | 66.65% |
| 2007 | Split | 2,000.00 | 33.33% |
| 2006 | IPO | 1,500.00 | 0.00% |
Sipchem’s profits dropped in 2023 to SAR 1.17 billion, from SAR 3.59 billion in 2022.
Financial Performance :
Overview :
Sipchem was set up as a joint-stock company in 1999. The company manage and own a petrochemicals complex at Jubail Industrial City (Saudi Arabia). The complex produces a wide range of petrochemicals, including methanol, butanediol, tetrahydrofuran, carbon monoxide, acetic acid, vinyl acetate and low-density polyethylene.
In 2019, the company fully acquired Sahara Petrochemical Co. Through its subsidiaries, Sahara produces wide range of petrochemicals including propylene, polypropylene, ethylene...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 17,746.59 |
| Shares Outstanding ((M)) | 733.33 |
| EPS ( ) (TTM) | 0.77 |
| Book Value (BV) ( Riyal) (Latest announcement) | 21.28 |
| Adjusted P/E (Last12) | 57.09 |
| Price/book | 1.14 |
| Dividend Yield (%) (Last Year) | 8.26 |
| Return on Average Assets (%) (TTM) | 2.53 |
| Return on Average Equity (%) (TTM) | 3.58 |
| Par Value ( Riyal) | 10.00 |
| Enterprise Value (EV) (M) | 19,262.52 |
Calendar :
-
21 May
General Assembly
- -
27 June
Ex-dividend Date
- -
11 July
Cash Dividend Distribution
-
Analyst Estimates :
36.3
Fair Average Price
2
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Aggregate | U-Capital | 30.50 | 40.60 | 33.11 % | |
| Neutral | Al Rajhi Capital | 32.40 | 32.00 | (1.23 %) |
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