Rabigh Refining and Petrochemical Company (Petro Rabigh) Announces the Results of Rump Offering and the Allocation of Right Issue
|Introduction||Rabigh Refining and Petrochemical Co. (Petro Rabigh) announces the results of the rump offering and the final allocation of Rights Issue shares. By the end of the rump offering period, the shares bid for amounted to 1,649.68% and the entire rump shares of 23,114,961, inclusive of fractional shares, were sold fully.|
|Number of Sold Shares||23114961|
|Total Proceeds of Selling Unsubscribed Shares||SAR 390,440,072.10|
|Fractional Shares||52,994 shares|
|Average Price of Sold Shares||SAR 16.89|
|Net Compensation for Right Issues and Fraction Shares Owners||SAR 159,290,462.10|
|Date of Depositing the Shares into Shareholders Accounts||2022-07-06 Corresponding to 1443-12-07|
|Additional Information||The Company will receive the aggregate offer price collected from the rump offering. The proceeds exceeding the offer price, if any, will be distributed to those entitled to it at latest on Sunday 18/12/1443H (17/7/2022G). |
The Company would like to clarify that the reason for the change in the number of rump shares from 22,642,745 shares, which was disclosed in the Company’s announcement on the Saudi Exchange on 30-11-1443H (corresponding to 29-06-2022G), to a number of rump shares offered inclusive of fractional shares amounting to 23,114,961 shares is due to the adjustment of the number of rump shares after the completion of reconciliation process with the actual subscribed shares as per the statement of the Lead Manager.
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