Petro Rabigh to select financial adviser for capital increase

26/05/2015 Argaam

Rabigh Refining and Petrochemicals Co. (Petro Rabigh) said in a statement to Tadawul that it’s currently in the process of selecting a financial adviser for its capital increase through rights issue.

 

The company’s board of directors recommended in April a plan to increase its capital by SAR 7.035 billion.

 

Petro Rabigh is a joint venture between Saudi Aramco and Japan's Sumitomo Chemical (37.5 percent ownership each) and has a current capital of SAR 8.76 billion.

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