AI Summary
Logo of Alinma Bank
The capital hike will be financed through the capitalization of SAR 5 billion from the statutory reserves and retained earnings in equal proportions.
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Details |
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Current capital |
SAR 25 bln |
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No. of shares |
SAR 25 bln |
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Increase percentage |
20% |
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Capital after increase |
SAR 30 bln |
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No. of shares after increase |
3 bln |
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Method |
One bonus share for every five shares held |
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Nature and value of reserves |
SAR 5 bln capitalized from statutory reserve and retained earnings in equal proportions |
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Record date |
Shareholders registered with Edaa at the end of the second trading day following the EGM date (to be announced later) |
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Objectives |
Strengthen financial position and retain resources to support strategic objectives |
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
Shareholders will vote on the repurchase of up to 5 million shares, or their equivalent, to be allocated to a long-term employee incentive program.
The buyback will be funded from the bank’s own resources, with the board of directors authorized to complete the repurchase within a maximum of 12 months from the EGM approval date.
The bank will retain the repurchased shares for a period not exceeding 10 years from the approval date, after which it will follow the relevant regulatory procedures and requirements.
Shareholders will also vote on authorizing the board to distribute interim dividends on a semi-annual or quarterly basis for 2026.
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