Chemanol has announced an update on the transformation process to IFRS, highlighting that shareholders equity will be reduced by SAR168mn. The decrease in shareholders’ equity was attributed to the following: i) decline in the net fixed assets value by SAR149mn; ii) increase in the end-of-services provisions by SAR12.6mn, as a result of the actuarial revaluation; and iii) reducing loan balance by SAR6.4mn due to applying amortised cost method. It is worth noting that the company is prepared to publish IFRS 1Q17 financial results. 
 
Chemanol: SAR6.91 as of 16 Mar. 2017, Rating: Sell, TP: SAR4.00/share, MCap: USD222mn, CHEMANOL AB/2001.SE