Petro Rabigh pays SAR 159.3 mln compensation for unsubscribed rights shares

17/07/2022 Argaam

Rabigh Refining and Petrochemical Co. (Petro Rabigh) will today, July 17, distribute SAR 159.3 million in compensation to the rights holders who did not exercise their rights to subscribe to the new shares, according to a bourse filing.

 

The amount will be deposited into the bank accounts of eligible investors, the statement added.

 

The company offered 795 million rights shares at SAR 10 each, valued at SAR 7.95 billion, to increase its capital from SAR 8.76 billion to SAR 16.71 billion, Argaam reported.

 

The company’s rump offering was 1,649.7% oversubscribed.

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