Through the sheer scale of its ambition, Vision 2030 has been able to mobilize companies across sectors to join forces and play their part in realizing the country’s future-focused goals.
Petro Rabigh, a world scale integrated refinery and petrochemicals complex, jointly founded by Saudi Aramco and Sumitomo, is one such company. It is leading the charge in expanding the petrochemicals sector in the Kingdom, fostering job creation and harnessing talent.
Today, this national champion stands at an inflection point as it builds on the momentum of sustained growth and looks ahead to a positive journey.
Leadership Message
ENG. IBRAHIM Q. AL-BUAINAIN
CHAIRMAN
"Through its globally recognized founding shareholders, strong asset base, and diversified products, Petro Rabigh is well positioned to maintain its position as the only regional player offering both petrochemical and refined products. As a responsible business, our focus is, and will always remain, on long-term value creation. The transaction that we are now embarking on is an important lever that enables us to continue delivering on our strategic priorities and commitments to our shareholders."
ENG. OTHMAN A. AL-GHAMDI
PRESIDENT AND CEO
"As a company, we have a clear strategy supported by promising performance pillars and a pipeline of opportunities in both regional and international markets. We are confident in the strength of our business model and our ability to generate returns to our shareholders. The transaction is an important step in this process and will further enhance our equity position by bringing down debt levels and increasing our share capital, ensuring that the company is well-positioned to meet its objectives."
Current share
capital is
Rights issue through a
capital increase of
Total new share
capital of
Petro rabigh rights issue
Our Timeline
Key Documents
Contact Details
FAQs
Petro Rabigh (or the “Company”) is a world-scale, fully integrated refining and petrochemicals facility established in 2005 through a joint venture with Saudi Aramco and Sumitomo Chemicals. The Company listed 25% of its share capital through an Initial Public Offering on the Saudi Stock Exchange in 2008.
The Rights Issue is very much in line with Petro Rabigh’s strategic objectives. The rationale behind the transaction is to enable the Company to improve its equity position, increase its share capital, and bring down debt levels, and ensure that the Company is well-positioned to meet its objectives.
The Rights Issue will be carried out through an increase in Petro Rabigh’s share capital by SAR 7.95 billion, increasing the share capital to SAR 16.71 billion from SAR 8.76 billion.
Petro Rabigh will hold an Extraordinary General Meeting (“EGM”) where the Company will seek shareholders’ approval on the Transaction.
Shareholders who are registered in the Company’s shareholder register at Edaa at the end of trading on the Extraordinary General Meeting Day shall have the right to attend the Extraordinary General Meeting and vote on the increase in the Company’s share capital by way of Rights Issue.
Petro Rabigh will always remain committed to long-term value creation for its shareholders, stakeholders, and communities. This transaction is an important lever to ensure that the Company is well-positioned to meet its strategic priorities.
