Petro Rabigh completes capital hike, deposits Class B shares

09:31 AM (Mecca time) Argaam
Logo ofRabigh Refining and Petrochemical Co. (Petro Rabigh)

Logo of Rabigh Refining and Petrochemical Co. (Petro Rabigh)

Rabigh Refining and Petrochemical Co. (Petro Rabigh) completed its capital increase and issued Class B shares, which were deposited on Oct. 21.

 

This came after the satisfaction of all conditions under the subscription agreement, the company said in a Tadawul statement.

 

In September, shareholders approved the board's recommendation to increase capital by 31.5% (SAR 5.26 billion) and allocate to founding shareholders Saudi Arabian Oil Co. (Saudi Aramco) and Sumitomo Chemical Company Ltd, according to Argaam data.

 

The Securities Depository Center Co. (Edaa) announced on Oct. 21, depositing Class B unlisted shares of Petro Rabigh into the accounts of eligible shareholders.

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