Al Rajhi Bank’s capital increase will be financed through capitalizing SAR 20 billion from the retained earnings
Al Rajhi Bank’s board of directors recommended,on Jan. 13, a 50% capital top-up from SAR 40 billion to SAR 60 billion, through distributing one bonus share for every two shares held. 
The process will be financed through capitalizing SAR 20 billion from the retained earnings account,as follows:
Capital Increase Details
Current Capital
SAR 40 bln
Number of Shares
4 bln
Percentage of Increase
50%
Capitalization
Capitalizing SAR 20 bln from retained earnings
New Capital
SAR 60 bln
New Number of Shares
60 bln
Record Date
Shareholders of record and those registered with Edaaby the close of thesecond trading day following the extraordinary general meeting (EGM), the date for which will be determined later
Reason
To enhance the bank’s financial position which contributes to achieving its strategic objectives.
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offeredat market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum, the bank said in a statement toTadawul.
The decision, which received the Saudi Central Bank’s (SAMA) no-objection, is conditional on approvals from competent authorities and shareholders, the statement added.
Al Rajhi Bank’s capital increase will be financed through capitalizing SAR 20 billion from the retained earnings
Al Rajhi Bank’s board of directors recommended,on Jan. 13, a 50% capital top-up from SAR 40 billion to SAR 60 billion, through distributing one bonus share for every two shares held.
The process will be financed through capitalizing SAR 20 billion from the retained earnings account,as follows:
Capital Increase Details
Current Capital
SAR 40 bln
Number of Shares
4 bln
Percentage of Increase
50%
Capitalization
Capitalizing SAR 20 bln from retained earnings
New Capital
SAR 60 bln
New Number of Shares
60 bln
Record Date
Shareholders of record and those registered with Edaaby the close of thesecond trading day following the extraordinary general meeting (EGM), the date for which will be determined later
Reason
To enhance the bank’s financial position which contributes to achieving its strategic objectives.
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offeredat market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum, the bank said in a statement toTadawul.
The decision, which received the Saudi Central Bank’s (SAMA) no-objection, is conditional on approvals from competent authorities and shareholders, the statement added.
