SAFCO changes name to SABIC Agri-Nutrients

03/01/2021 Argaam

Saudi Arabian Fertilizer Co. (SAFCO) announced the change of its name to SABIC Agri-Nutrients Co. on the Saudi Stock Exchange (Tadawul) following the approval at the extraordinary general assembly meeting held on Nov. 18, 2020.

 

The procedures to affect the name change in the company’s bylaws and commercial register have been completed, the company said in a bourse filing today, Jan. 3, 2021. 

 

In November 2020, Saudi Arabian Fertilizer Co. (SAFCO) shareholders approved a 14.25% capital increase to SAR 4.76 billion from SAR 4.17 billion during the EGM. The move aims to fund the acquisition of SABIC Agri-Nutrients Investment Co. from Saudi Basic Industries Corporation (SABIC). 

 

Shareholders also approved amending the company’s name to SABIC Agri-Nutrients Co. 

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