Petro Rabigh announces a reduction in its accumulated losses to 40% of its capital
Rabigh Refining and Petrochemical Company (Petro Rabigh) announced a decrease in its accumulated losses from 51.29% of the capital as of September 30, 2025, to 39.94% of the capital as of October 31, 2025.
The company explained in a statement on: "Saudi Arabia trading"Today, Sunday, it was able to reduce its accumulated losses by increasing the company’s capital by an amount of 5.26 billion riyals through the issuance of 526.36 million Class B ordinary shares for the benefit of Saudi Aramco Sumitomo Chemical Limited.
Accordingly, the company’s total capital became 21.97 billion riyals as of October 31, 2025, and the accumulated losses were 8.77 billion riyals as of the same date, Which represents 39.94% of the company’s capital.
Given the decrease in the accumulated losses to less than 50% of the capital, the provisions of Article (132) of the Companies Law, and the instructions and procedures issued by the Capital Market Authority related to listed companies whose accumulated losses amounted to 50% or more of their capital, no longer apply to the company.
However, the company indicated that the instructions and procedures issued by the Capital Market Authority related to listed companies that Its accumulated losses amounting to 20% or more of its capital, still apply to the company.
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