Logo of Rabigh Refining and Petrochemical Co. (Petro Rabigh)



Rabigh Refining and Petrochemical Co. (Petro Rabigh) announced today, June 27, the results of its rights issue trading and new shares subscription, as well as details of the rump offering, as follows:













Offering Details

Number of Offered Shares

795 mln

Number of Subscribed Shares

772.36 mln

Value of Subscribed Shares

SAR 7.723 bln

Coverage Ratio (%)

96.25%

Number of Rump Shares

22.64 mln

Date of Reoffering of Rump Shares

June 29-30, 2022




The company said that rump shares will be offered to a number of institutional investors, who will submit purchase offers for such shares.




Rump shares will be allocated to institutional investors with the highest offer to the lowest (provided that it is not less than the offer price), with shares being allocated pro-rata among those institutional investors that have tendered offers at the same price.




The remaining unsubscribed shares will be allocated to underwriters, namely HSBC Saudi Arabia, Riyad Capital, Alinma Investment, GIB Capital, SNB Capital, ANB Invest, Saudi Fransi Capital and AlJazira Capital, which will subscribe to them at the offer price.




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