Energean CEO Mathios Rigas sells 2.8% stake
Rigas offered the shares at a 5.6% lower price on the industry value.


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

Rigas bought 2.8% of Energean, reducing his stake to 8.5%. The shares had been sold to economic institutions by Barak Money and Financial institution of The us at a price cut of 5.6% on the current market price. In the earlier 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 remains thoroughly dedicated to the enterprise and is self-assured in the outlook for Energean.”

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

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

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



Mathios Rigas credit: Eyal Izhar