Logo of Al Rajhi Bank
Al Rajhi Bank’s shareholders approved a capital increase to SAR 40 billion from SAR 25 billion through a 60% bonus issue (three shares for every five shares), during the extraordinary general assembly meeting held on May 8, the bank said in a bourse statement.
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Capital Increase Details – Bonus Issue |
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Current Capital |
SAR 25 bln |
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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 |
In a separate statement, the Saudi Exchange (Tadawul) announced that today, May 9, the fluctuation limits for Al Rajhi Bank will be based on a share price of SAR 112.40 and the outstanding orders will be canceled.
Meanwhile, the Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by May 11.
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