Energean CEO Mathios Rigas sells 2.8% stake
Rigas offered the shares at a 5.6% discounted on the current market rate.


Oil and gasoline exploration enterprise Energean (LSE: ENOG TASE: ENOG), which holds the Tanin and Karish gas reservoirs in Israel and has a marketplace cap of NIS 9 billion, reviews that its CEO Mathios Rigas has bought portion of his keeping in the enterprise for NIS 230 million (£55 million).

Rigas offered 2.8% of Energean, cutting down his stake to 8.5%. The shares were bought to financial establishments by Barak Money and Bank of America at a price reduction of 5.6% on the market place selling price. In the past calendar year, Energean shares have yielded a return of some 50%.




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The company’s announcement of the sale states, “Mr Rigas remains completely fully commited to the enterprise and is assured in the outlook for Energean.”

Rigas said this calendar year that Energean would commit $710-760 million in developing reservoirs and in exploration and generation drilling, of which $450-500 million would be invested in Israel.

Released by Globes, Israel business news – en.globes.co.il – on June 26, 2022.

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



Mathios Rigas credit: Eyal Izhar
