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.
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Capital Increase Highlights |
|
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Current Capital |
SAR 8.760 bln |
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Number of Shares |
876 mln |
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Capital Increase (%) |
90.75% |
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Capital after Increase |
SAR 16.71 bln |
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Number of Shares after Increase |
1.671 bln |
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Rights Issue Highlights |
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Number of Shares Offered |
795 mln |
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Offer Price |
SAR 10 |
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Issue Size |
SAR 7.950 bln |
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Eligibility Ratio |
0.9075 right for every share held |
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Record Date |
June 8 (Including shareholders of record by the close of trading on the second day following the extraordinary general meeting) |
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Purpose |
To boost the company’s financial solvency as well as reduce lending rates and relevant costs. |
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