The Rabigh Refining and Petrochemical Company submitted a request to the Capital Market Authority to increase its capital by offering initial rights shares amounting to 7.95 billion riyals. The eligibility to purchase the Petro Rabigh shares offered was determined for registered shareholders in the Issuer Shareholders in the Depository Center, and after the end of the second day of trading, a contract will be held. The extraordinary general assembly is responsible for increasing the capital by offering a group of initial rights shares.
بترورابغ تداولAfter the end of trading on the day of the Extraordinary General Assembly, the offering price will be determined along with the number of Petro Rabigh shares offered for subscription to be made available to the public for subscription. The company has requested a capital reduction in accordance with its related regulations, and if approved, up to 121 million shares will be cancelled. Based on this agreement, the share price will be reduced by 13.71%.
Based on the agreements signed between Petro Rabigh Company, Aramco, and SABIC, this will result in an increase in the company’s competition in trading. It provides a wide range of necessary equipment while providing financial support of more than one billion riyals. Given the strength of SABIC and Aramco in the market, this impact will appear strongly on the trends of Rabigh Tadawul shares.
