Shares of Saudi Kimanol rise by more than 4% after this announcement!

Methanol Chemicals Company (Kimanol) announced today, Wednesday, through a statement published on the Saudi stock exchange (Tadawul), that the Saudi General Authority for Foreign Trade has imposed anti-dumping duties on imports of concrete additives from the People's Republic of China and Russia.

Kimanol, the largest producer of this product in the Kingdom, with an annual production capacity of approximately 163,000 tons, confirmed that the financial impact of this decision is expected to be positive. However, the actual effect will be assessed later after considering all market variables and the decision's repercussions, with any updates to be disclosed in due course.

The company emphasized that this decision reflects the Saudi government’s ongoing support for national industries, aiming to foster a fair competitive environment in line with international trade regulations. It is expected to improve the company's overall performance and counteract unfair competition practices in the local market for concrete additives.

In trading, Kimanol's share (TADAWUL: 2001) saw an increase of 4.32%, equivalent to 0.78 riyals per share, with the stock currently trading at 18.84 riyals during transactions on the Saudi stock exchange.

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