There are no updates regarding the board’s recommendation to increase capital through a rights issue, Tadawul-listed Rabigh Refining and Petrochemical Co. (Petro Rabigh) said on Thursday.

 

The company’s board of directors had recommended a capital increase through a rights issue in 2015, Argaam reported.

 

Petro Rabigh previously said the capital increase would be SAR 7.04 billion, but revised it to SAR 9.26 billion, aiming to cover the cost of Phase II of the Rabigh Project.

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