The Saudi Arabia Capital Markets Authority (CMA) issued a resolution approving Rabigh Refining and Petrochemical Company’s request to reduce its capital from SAR 21,973,649,980 to SAR 16,709,999,980 by reducing the par value of class (A) ordinary shares. The approval is conditional on approval by the company’s extraordinary general assembly and completion of the required procedures under applicable regulations. Rabigh Refining and Petrochemical Company will publish a disclosure document for shareholders, outlining the proposed method of capital reduction and its expected effects, sufficiently in advance of the extraordinary general assembly meeting to allow shareholders to vote. The CMA also noted that its approval does not constitute an endorsement of the feasibility of the capital reduction, but reflects that regulatory requirements under the Capital Market Law and its Implementing Regulations have been met.
Saudi Arabia Capital Markets Authority 2026-02-12
Saudi Arabia Capital Markets Authority approves Rabigh Refining and Petrochemical Company request to reduce capital to SAR 16,709,999,980
The Saudi Arabia Capital Markets Authority approved Rabigh Refining and Petrochemical Company's request to reduce its capital from SAR 21,973,649,980 to SAR 16,709,999,980, subject to the company's extraordinary general assembly approval and completion of regulatory procedures. The company will provide shareholders with a disclosure document detailing the capital reduction method and its effects before the assembly meeting.