Petro Rabigh shares rose 2.5% after Saudi Aramco increased its stake in the company
Shares of Rabigh Refining and Petrochemical Company (Petro Rabigh) rose by 2.5% today, Thursday, following the announcement of the acquisition "Saudi Aramco" On an additional 22.5% stake in the company for 7 riyals per share.
As of 11:00 Riyadh time, the share price reached "Petro Rabigh" 8 riyals per share, while the quantity traded per share amounted to about 3.5 million shares, worth 27.3 million riyals.
According to "TadawulSaudi Arabia"The stock began its trading at 7.89 riyals per share, compared to its previous close on Wednesday at 7.7 riyals, amid active trading.
The highest price of the share was 8.08 riyals, while the lowest price was 7.83 riyals.
And it was "Saudi Aramco"Today, Thursday, it announced its acquisition of an additional 22.5% stake, representing 375.9 million shares of the company’s common stock. "Petro Rabigh" From Sumitomo Chemical Company (Sumitomo) for 2.63 billion riyals (702 million US dollars), equivalent to 7 riyals per share.
Under this step, "Aramco" The largest shareholder in Petro Rabigh with an ownership stake of approximately 60%, while it holds "Sumitomo" With an ownership stake of 15%.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
