Riyadh – Mubasher: Rabigh Refining and Petrochemical Co. (Petro Rabigh) said it is in the process of appointing a financial advisor for its capital increase that will be effected through a rights issue, according to a bourse filing posted Thursday.
The Tadawul-listed company announced earlier it would launch a rights issue worth SAR 9.26 billion, which is SAR 2.2 billion higher than the previously-declared increase of SAR 7.035 billion following a change in timeline for Rabigh project and a rise in its costs.
