Petro Rabigh’s rights subscription period ends today

26/06/2022 Argaam Special

Logo of Petro Rabigh

Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) rights subscription period ends today, June 26.

 

Subscription period started on June 14, to increase the company’s capital from SAR 8.76 billion to SAR 16.71 billion, through a rights issue of 795 million shares at SAR 10 per share.

 

Rights trading period, which also started on June 14, ended on June 21.

 

 

Capital Increase Highlights

Current Capital

SAR 8.76 bln

Number of Shares

876 mln

Capital Increase (%)

90.75%

Capital after Increase

SAR 16.71 bln

Number of Shares after Increase

1.671 billion
 

Rights Issue Highlights

Number of Shares Offered

795 mln

Offer Price

SAR 10

Issue Size

SAR 7.95 bln

Eligibility Ratio

Registered shareholders will be granted 0.9075 right for every share held

Record Date

June 8, 2022 including

shareholders of record by the close of trading on the second day following this date

Rights Issue Proceeds

Lifting solvency margin and reducing borrowing and its associated costs.
 

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