Energean CEO Mathios Rigas sells 2.8% stake
Rigas offered the shares at a 5.6% low cost on the current market value.


Oil and fuel exploration business Energean (LSE: ENOG TASE: ENOG), which retains the Tanin and Karish gasoline reservoirs in Israel and has a market cap of NIS 9 billion, reports that its CEO Mathios Rigas has offered section of his keeping in the firm for NIS 230 million (£55 million).

Rigas sold 2.8% of Energean, lowering his stake to 8.5%. The shares ended up bought to economical establishments through Barak Capital and Bank of America at a lower price of 5.6% on the sector cost. In the earlier yr, Energean shares have yielded a return of some 50%.




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The company’s announcement of the sale states, “Mr Rigas remains absolutely committed to the small business and is self-confident in the outlook for Energean.”

Rigas said this year that Energean would spend $710-760 million in acquiring reservoirs and in exploration and output drilling, of which $450-500 million would be invested in Israel.

Printed by Globes, Israel enterprise news – en.globes.co.il – on June 26, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.



Mathios Rigas credit history: Eyal Izhar
