Over 1.4 mln Saudis subscribe to Petro Rabigh’s IPO, as payment surpasses SAR 2.4 bln

08-Jan-08

Over 1.4 mln Saudi nationals have subscribed to the Petrorabigh IPO in first two days. As the subscription surpasses SAR 2.4 bln, the overwhelming response is an indication of high level of investor confidence in the project. The offering consists of 219 mln shares, representing 25% of the company’s share capital after the IPO. The SAR 4.599 billion IPO, which opened for subscription on Saturday, January 5, 2008, will close on Saturday, January 12, 2008.