SNB deposits proceeds from fractional shares sale

05/06/2023 Argaam

SNB deposits proceeds from fractional shares sale

Logo of Saudi National Bank (SNB)

Saudi National Bank (SNB) deposited today, June 5, the proceeds of selling the fractional shares arising from the bank's capital increase, which was approved by the extraordinary general assembly meeting (EGM) on May 7.

 

SNB sold 52,617 shares at an average price of SAR 35.725 apiece.

 

On May 8, SNB shareholders approved the board’s recommendation to increase capital by 33.99% to SAR 60 billion through 1-for-3 bonus share distribution, according to data available with Argaam.

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