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Al Rajhi Bank’s shareholders will vote on capital increase to SAR 40 billion from SAR 25 billion through a 60% bonus issue, during the extraordinary general assembly meeting, which will be held today, May 8.

 

The capital increase will be financed through the capitalization of SAR 15 billion from the retained earnings via distributing three bonus shares for every five shares held.

 

Capital Increase Details – Bonus Issue

Current Capital

SAR 25 bln

Number of Shares

2.5 bln

Percentage of Increase

60% (three bonus shares for every five shares held)

New Capital

SAR 40 bln

Number of Shares

4 bln

Reason

Boosting the bank’s resources and accelerating growth plans over the coming years

Method

The capitalization of SAR 15 billion from the retained earnings
 

 

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