ANB approves 50% capital hike through bonus shares
Arab National Bank’s (ANB) shareholders have approved a 50 percent capital hike to SAR 15 billion from SAR 10 billion through the issue of one bonus share for every two shares held, the bank said in a statement on Tadawul.
Shareholders have also approved an 8.5 percent cash dividend for the second half of 2018, during the extraordinary general assembly meeting held on Wednesday.
Fluctuation limit after capital hike will be based on a share price of SAR 24.74, the Saudi Stock Exchange (Tadawul) said in a separate statement .
Meanwhile, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Monday, April 1, 2019.
Key Figures of the Capital hike
SAR 10 bln
Number of shares
1 bln shares
50% (1 for every 2 shares)
SAR 15 bln
New number of shares
1.5 bln shares
March 27, 2019
Capitalizing SAR 2 bln from retained earnings account and SAR 3 bln from statutory deposit
To boost capital base to achieve better future growth rates