SAIB closes subscription period for treasury shares today

26/08/2021 Argaam

Saudi Investment Bank’s headquarters

Saudi Investment Bank’s (SAIB) rights issue subscription period for treasury shares will close today, Aug. 26, according to a bourse statement.

 

The rights trading and the treasury shares purchase period started on Aug. 16, while the rights trading period to purchase treasury shares ended on Aug. 23.

 

Sale of Treasury Shares Details

Sale Process

Sale of treasury shares to eligible investors through a methodology similar to that of rights issuance

Sale Purpose

Enhance the bank’s financial position. The sale proceeds will be used to boost SAIB’s capital base and liquidity, and to finance future expansions

Eligibility

Aug. 11, 2021

Number of Treasury Shares

75 mln

Total Treasury Shares for Sale

75 mln

New Investors

All investors, including retail and unregistered institutional investors that purchased rights during the trading period

Eligibility Coefficient

One right for every nine shares held

Treasury Shares/Capital

9.99%

Purchase Period

From Aug. 16-26, 2021

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