MIS contributes SAR 23.8M to Vision Bank's capital increase

MIS says the value of its subscription to Vision Bank’s capital was SAR 23.75 million

Al Moammar Information Systems Co. (MIS) said it jointly signed a subscription agreement today, Jan. 28, to increase Vision Bank’s capital from SAR 1.5 billion to SAR 3 billion.

In a statement to Tadawul, the company said the value of its subscription was SAR 23.75 million, based on Vision Bank’s valuation of SAR 3.2 billion prior to the capital increase.

According to Argaam data, the MIS board approved the company’s contribution to the bank’s capital increase earlier this month.