Logo of Saudi Investment Bank
The Securities Depository Center Co. (Edaa) deposited today, Aug. 16, the tradable rights of Saudi Investment Bank (SAIB) into the eligible shareholders’ accounts.
Shareholders of SAIB approved the sale of the shares acquired from JP Morgan International Finance Ltd. (56.25 million) and Mizuho Bank Ltd. (18.75 million) as treasury shares, during the extraordinary general assembly meeting (EGM) held on Aug. 4.
SAIB’s rights issue and new shares subscription period will begin on Aug. 16. The sale will be in accordance with the provisions and mechanism outlined in the circular for the sale of the treasury shares issued by the bank on July 14, Argaam report.
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