Rigas bought the shares at a 5.6% discount on the current market price tag.


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

Rigas marketed 2.8% of Energean, cutting down his stake to 8.5%. The shares were marketed to money establishments by Barak Capital and Bank of The usa at a price cut of 5.6% on the industry rate. In the past 12 months, Energean shares have yielded a return of some 50%.




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The company’s announcement of the sale states, “Mr Rigas continues to be fully committed to the organization and is self-confident in the outlook for Energean.”

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

Posted by Globes, Israel organization information – en.globes.co.il – on June 26, 2022.

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



Mathios Rigas credit score: Eyal Izhar
