On May 18, 2026, Basic Chemical Industries Co. released an addendum announcement providing additional details about its land sale in Jeddah, originally announced on May 14, 2026. The company sold the land to Mr. Omar bin Abdulkarim bin Qasim Al Khamis for SAR 12.8 million, with the transaction signed on May 11, 2026, and the full payment already received. The land had a book value of SAR 820,140, and the regulatory procedures for ownership transfer have been completed. The transaction is expected to positively impact the company's liquidity and cash flows, with no related parties involved in the deal.

Original announcement:

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