For the first time in nearly seven years, the stock of Saudi Basic Industries Corporation (SABIC) has touched its highest level at SR134.60 on Sunday, according to Argaam.
The stock is currently trading up just under 1 percent, with trading exceeding 500,000 shares so far.
Today’s rise has pushed the stock up a staggering 120 percent since March 2020.
The Saudi company operates in the petrochemical, fertilizer, iron, steel and aluminum industries with Saudi Aramco the largest investor, with a share of 70 percent.