Advanced studying potential expansion projects that will be announced soon
Advanced studied potential expansion projects that will be announced following its upcoming BoD meeting, according to Argaam. Al Mulhim, the Chairman of the company, highlighted that the company will not only focus on local expansion to strengthen its industrial position in the Kingdom, but it will also explore overseas markets. He added that the company’s strong cash flow and strong financial position will help in the expansion process and that the company is planning to reduce leverage.
Advanced Petrochemicals: SAR57.50 as of 24 Jun. 2019, Rating: Buy, TP: SAR58.50/share, MCap: USD3,017mn, APPC AB/2330.SE
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