AI Summary
Logo of Riyad Bank
The Securities Depository Center Co. (Edaa) updated the accounts of eligible shareholders to reflect Riyad Bank's capital increase.
In a statement to Tadawul, Edaa said the adjustment will be applied today, April 8.
According to Argaam data, Riyad Bank shareholders approved the board’s proposal to raise the bank’s capital by 33.33% through a bonus share issue at an extraordinary general meeting on April 5.
The proposed increase will be carried out by capitalizing SAR 10 billion from the statutory reserve and retained earnings in equal proportions through a 1-for-3 bonus share issue, raising the bank’s capital to SAR 40 billion.
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Capital Increase Details |
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Current Capital |
SAR 30 bln |
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No. of Shares |
3 bln |
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Proposed Increase |
33.33% |
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No. of Bonus Shares |
1-for-3 |
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Method |
Capitalizing SAR 10 bln equally from statutory reserve and retained earnings |
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New Capital |
SAR 40 bln |
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New No. of Shares |
4 bln |
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Record Date |
April 5, shareholders registered with Edaa by the end of second trading day following the record date |
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Reason |
Enhance solvency and maintain resources in operational activities, leading to achieving strategic goals |
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