Petro Rabigh rights trading period ends today

Logo of Petro Rabigh

Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) rights trading period ends today, June 21.

Rights trading period started on June 14, to increase the company’s capital from SAR 8.76 billion to SAR 16.71 billion.

Subscription period, which also started on June 14, will continue until June 26.

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios.

Capital Increase Highlights
Current Capital	SAR 8.760 bln
Number of Shares	876 mln
Capital Increase (%)	90.75%
Capital after Increase	SAR 16.71 bln
Number of Shares after Increase	1.671 bln

Rights Issue Highlights
Number of Shares Offered	795 mln
Offer Price	SAR 10
Issue Size	SAR 7.950 bln
Eligibility Ratio	0.9075 right for every share held
Record Date	June 8 (Including shareholders of record by the close of trading on the second day following the extraordinary general meeting)
Purpose	To boost the company’s financial solvency as well as reduce lending rates and relevant costs.

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