Chemanol, a Saudi Arabia’s Methanol Chemicals Co is looking at ways to finance $302m facility to fund the company’s expansion plans most probably by an initial public offering (IPO) for a sale of 50% of Chemanol shares for $200m.
Saudi Arabia's Methanol Chemicals Co is a major producer and international supplier of premium grade formaldehyde and derivative products, which previously known as Saudi Formaldehyde Chemical Co.
The$302 facility will expand Chemaol's operations, to convert gas from raw materials to use internally and to decrease its dependance on Saudi Aramco. Currently, Chemaol receives gas feed from Saudi Aramco. The IPO will be arranged by SAAB, SAMBA, Riyadh bank, Saudi Hollandi Bank, Alahli bank and Arab Banking Corporation (Bahrain).
Saudi Arabia's Methanol Chemicals Co is a major producer and international supplier of premium grade formaldehyde and derivative products, which previously known as Saudi Formaldehyde Chemical Co.
The$302 facility will expand Chemaol's operations, to convert gas from raw materials to use internally and to decrease its dependance on Saudi Aramco. Currently, Chemaol receives gas feed from Saudi Aramco. The IPO will be arranged by SAAB, SAMBA, Riyadh bank, Saudi Hollandi Bank, Alahli bank and Arab Banking Corporation (Bahrain).
No comments:
Post a Comment