Saudi Arabia .. “Kimanol” shares rises to the highest price in a month

The shares of methanol chemists “Kimanol” increased by 5.20% during trading in the Saudi market “Tadawul” today, Monday, to trade at 12.14 riyals per share, achieving its highest level in a month.

677.83 thousand shares of the Methanol Chemical Company “Kimanol” were traded at that time, with a value of trading 8.13 million riyals.

The highest price for the share at that time was at 12.60 riyals, while the lowest price for the share was at 11.60 riyals, to touch the share in that the highest price in a month and 10 days. Methanol Chemical Company, known as Keimanol, is one of the Saudi industrial companies that focuses on the production of chemicals, and its founding date dates back to 1989 under the name of “Saudi Formaldesheide Chemical Company”, and was then the first special Petrochemical project to be launched in the Gulf Cooperation Council countries.

Later, in 2008, her name was changed to “Kemanol” in conjunction with its transformation into a public joint stock company after the successful offering of its stocks in the market. The company is based in Jubail Industrial City.

Methanol Chemical Company logo “Keimanol”

Kemanol produces a wide range of chemical derivatives used in various industrial sectors. These materials include compounds that are employed in the fields of agriculture, construction, pharmaceutical and cars, which reflects the diversity of the company’s products and the extent to which many vital industries are dependent on their production.

In the context of its expansion plans, Kemanol obtained an official approval from the Saudi Ministry of Energy to use the required values ​​to produce a new set of specialized chemicals, which are strategic additions aimed at strengthening the company’s location in the market, especially since these products have not previously been manufactured locally before. These materials are used in advanced industries that include energy, medicine, and fertilizers, in addition to environmental applications such as carbon detention.

In May 2024, the company completed acquisition of 80% of the “International Chemical Industries Company Limited”, in a deal worth about 80 million Saudi riyals, which reflects Keimal’s orientation towards expanding in the field of specialized chemical industries and diversifying its productive portfolio, in line with its goals in sustainable growth and enhancing its competitiveness.