Logo of Al Rajhi Bank

Al Rajhi Bank’s shareholders approved a capital increase to SAR 40 billion from SAR 25 billion through a 60% bonus issue (three shares for every five shares), during the extraordinary general assembly meeting held on May 8, the bank said in a bourse statement.

 

Capital Increase Details – Bonus Issue

Current Capital

SAR 25 bln

Number of Shares

2.5 bln

Percentage of Increase

60% (three bonus shares for every five shares held)

New Capital

SAR 40 bln

Number of Shares

4 bln

Reason

Boosting the bank’s resources and accelerating growth plans over the coming years

Method

The capitalization of SAR 15 billion from the retained earnings
 
Meanwhile, shareholders delegated the board of directors to distribute interim dividend for 2022 on a quarterly or semi-annual basis.
 

In a separate statement, the Saudi Exchange (Tadawul) announced that today, May 9, the fluctuation limits for Al Rajhi Bank will be based on a share price of SAR 112.40 and the outstanding orders will be canceled.

 

Meanwhile, the Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by May 11.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Al Rajhi Bank’s shareholders to vote on 60% capital top-up to SAR 40 bln via bonus issue today

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request