Logo ofRabigh Refining and Petrochemical Co. (Petro Rabigh)
Rabigh Refining and Petrochemical Co. (Petro Rabigh) said its shareholders approved the board’s recommendation to reduce capital from SAR 21.9 billion to SAR 16.7 billion during the extraordinary general meeting (EGM), according to a statement to Tadawul. 
The reduction will be implemented by decreasing the nominal value of Class (A) ordinary shares from SAR 10 to SAR 6.85.
Capital Reduction Details
Capital
SAR 21.97 bln
Number of Shares
2.2 bln
New Capital
SAR 16.71 bln
Capital of Class (A) after reduction
SAR 11.45 bln
Number of Shares
2.2 bln
Percentage of Reduction
23.95%, whereas the reduction in capital pertaining to Class (A) ordinary shares alone amounts to 31.50%
Method
Through reducing the nominal value of Class (A) ordinary shares from SAR 10 to SAR 6.85, SAR 5.26 billion will be written off from the company’s capital to offset part of the accumulated losses.
The number of shares will remain unchanged, and no shares will be canceled.
Reason
Reducing accumulated losses
In a statement to Tadawul, the company said that the capital reduction decision will apply to shareholders holding Class (A) shares as of the EGM date.
The shareholders must be registered in the company’s shareholder records at the Securities Depository Center Co. (Edaa) at the end of the second trading day following the meeting.
The company added that it appointed PricewaterhouseCoopers (PwC) as the independent auditor to issue a limited assurance report on the board of directors’ decision regarding the capital reduction, explaining the reasons for the reduction and its expected impact on the company’s obligations and total equity.
Based on this report, the capital reduction will have no effect on the company’s obligations or total equity.
In August 2025, Petro Rabigh’s board of directors recommended a 31.5%, or SAR 5.26 billion, capital increase, in favor of the company’s founding shareholders, Saudi Arabian Oil Company (Saudi Aramco), and Sumitomo Chemical Co. Ltd. (Sumitomo), data compiled by Argaam showed.
This capital increase was intended to be followed by a subsequent reduction after its completion.
The recommendation included reducing the capital from SAR 21.97 billion to SAR 16.71 billion by lowering the nominal value of Class (A) ordinary shares from SAR 10 to SAR 6.85.
The capital increase process was completed in October 2025.
Logo ofRabigh Refining and Petrochemical Co. (Petro Rabigh)
Rabigh Refining and Petrochemical Co. (Petro Rabigh) said its shareholders approved the board’s recommendation to reduce capital from SAR 21.9 billion to SAR 16.7 billion during the extraordinary general meeting (EGM), according to a statement to Tadawul.
The reduction will be implemented by decreasing the nominal value of Class (A) ordinary shares from SAR 10 to SAR 6.85.
Capital Reduction Details
Capital
SAR 21.97 bln
Number of Shares
2.2 bln
New Capital
SAR 16.71 bln
Capital of Class (A) after reduction
SAR 11.45 bln
Number of Shares
2.2 bln
Percentage of Reduction
23.95%, whereas the reduction in capital pertaining to Class (A) ordinary shares alone amounts to 31.50%
Method
Through reducing the nominal value of Class (A) ordinary shares from SAR 10 to SAR 6.85, SAR 5.26 billion will be written off from the company’s capital to offset part of the accumulated losses.
The number of shares will remain unchanged, and no shares will be canceled.
Reason
Reducing accumulated losses
In a statement to Tadawul, the company said that the capital reduction decision will apply to shareholders holding Class (A) shares as of the EGM date.
The shareholders must be registered in the company’s shareholder records at the Securities Depository Center Co. (Edaa) at the end of the second trading day following the meeting.
The company added that it appointed PricewaterhouseCoopers (PwC) as the independent auditor to issue a limited assurance report on the board of directors’ decision regarding the capital reduction, explaining the reasons for the reduction and its expected impact on the company’s obligations and total equity.
Based on this report, the capital reduction will have no effect on the company’s obligations or total equity.
In August 2025, Petro Rabigh’s board of directors recommended a 31.5%, or SAR 5.26 billion, capital increase, in favor of the company’s founding shareholders, Saudi Arabian Oil Company (Saudi Aramco), and Sumitomo Chemical Co. Ltd. (Sumitomo), data compiled by Argaam showed.
This capital increase was intended to be followed by a subsequent reduction after its completion.
The recommendation included reducing the capital from SAR 21.97 billion to SAR 16.71 billion by lowering the nominal value of Class (A) ordinary shares from SAR 10 to SAR 6.85.
The capital increase process was completed in October 2025.
