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Sipchem makes it to MSCI Emerging Market Index

Saudi Arabia, September 4, 2019

Sahara International Petrochemical Company (Sipchem), an integrated global leader in the petrochemical sector and a company listed on Saudi Stock Exchange, has announced its official inclusion in the MSCI Emerging Markets Index.

Inclusion in the MSCI EM Index is an unprecedented milestone for Saudi Arabia, and Sipchem is proud to be a part of this major achievement for the Saudi market among other Saudi companies included to the index, said the company in a statement.

Through Sipchem's Investor Relations ambitious strategy, this inclusion will support the company in attracting local and international investors, provide the highest levels of transparency and disclosure, and follow the best practices, it stated.

Sipchem has evidently increased the percentage of Qualified Foreign Investors (QFI) ownerships by more than 8% in the past few months.

One of the focuses of Investor Relations is enabling the dialog between the company and the investment community, in order to achieve a fair value of the company's shares and performance, it added.

The successful merger of equals between Sipchem and Sahara has created an integrated petrochemical leader in Saudi Arabia that has a stronger operational, commercial and financial position, increasing its ability to capture growth opportunities, leverage existing capabilities and ensure sustainable operations.

CEO Engineer Saleh Bahamdan said Sipchem was proud to be amongst the leading Saudi-listed companies to be included in the MSCI Emerging Market Index.

'The inclusion is an unprecedented milestone for Saudi Arabia and it gives Sipchem and other Saudi entities the opportunity to showcase our attractive growth story to the international investment community. This development will strengthen our business by adequately reflecting our ability to compete with other global companies within the petrochemical sector,' he remarked.

Sipchem’s growth to date and future expansion plans are in line with the strategic goal of Saudi Arabia’s Vision 2030 to build national champions with strong local and international reach in a sector that has been identified as a priority for the future economy of the kingdom, said the top official.

The company is well positioned to support the non-oil economy and create attractive private sector job opportunities, he added.