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Saudi Investment Bank’s (SAIB) treasury shares rights trading period ends today, Aug. 23.
Rights issue trading period and the treasury shares purchase period started on Aug. 16.
Rights issue subscription period, which also started on Aug. 16, will end on Aug. 26.
Holders of rights issue are allowed to exercise their right to buy treasury shares up to the number of rights available in their portfolios. The rights trading and purchase of the treasury shares for registered shareholders and new investors shall be according to the sale of treasury shares circular.
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Sale of Treasury Shares Details |
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Sale Process |
Sale of treasury shares to eligible investors through a methodology similar to that of rights issuance |
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Sale Purpose |
Enhance the bank’s financial position. The sale proceeds will be used to boost SAIB’s capital base and liquidity, and to finance future expansions |
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Eligibility |
Aug. 11, 2021 |
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Number of Treasury Shares |
75 mln |
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Total Treasury Shares for Sale |
75 mln |
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New Investors |
All investors, including retail and unregistered institutional investors that purchased rights during the trading period |
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Eligibility Coefficient |
One right for every nine shares held |
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Treasury Shares/Capital |
9.99% |
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Purchase Period |
From Aug. 16-26, 2021 |
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Rights Trading Period |
From Aug. 16-23, 2021 |
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