Logo ofArab National Bank (ANB)
Shareholders of Arab National Bank (ANB) approved the board’s recommendation on raising capital by 33.33%, during the extraordinary general meeting (EGM) held on May 20. 
The capital will be increased through offering one bonus share for three shares held, ANB said in a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 15 bln
CurrentNumber of shares
1.5 bln
Capital increase (%)
33.33%
New Capital
SAR 20 bln
NewNumber of Shares
2 bln
Method
One bonus share for every three shares held.
Nature Value of Reserve
Capitalizing SAR 5 bln fromretained earnings and statutory reserve.
Eligibility
May 20, 2024 (Shareholders of record at the end of trading on the EGM date and those registered with Edaa at the end of the second trading day following the EGM)
Reason
Toboost financialsolvency
Fractional shares, if any, will be collected in a single portfolio for all shareholders and sold at market price. Their value will be distributed among the eligibleshareholders on pro rata within30 days maximum from the date of determining the new shares eligible for each shareholder.
The employee share program was also approved, and the board was delegated to set the related terms, including the allocation price for each share offered to employees, if paid.
In addition, shareholders greenlit the repurchase of up to 5 million shares to allocate them for the employee stock option.
The repurchase process will be funded by the bank’s internal resources. The board will complete the buyback process within 12 months maximum from the EGM date.
ANB will retain the repurchased shares for a maximum of 10 years from the EGM date until they are allocated to the stock employee option. After this period, the procedures and controls stipulated in the applicable regulations will be applied.
The Saudi Exchange (Tadawul) announced that fluctuation limits on the stock will be based on a share price of SAR 21.18 today, May 21, and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into investor portfolios before start of trading on May 23.
Logo ofArab National Bank (ANB)
Shareholders of Arab National Bank (ANB) approved the board’s recommendation on raising capital by 33.33%, during the extraordinary general meeting (EGM) held on May 20.
The capital will be increased through offering one bonus share for three shares held, ANB said in a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 15 bln
CurrentNumber of shares
1.5 bln
Capital increase (%)
33.33%
New Capital
SAR 20 bln
NewNumber of Shares
2 bln
Method
One bonus share for every three shares held.
Nature Value of Reserve
Capitalizing SAR 5 bln fromretained earnings and statutory reserve.
Eligibility
May 20, 2024 (Shareholders of record at the end of trading on the EGM date and those registered with Edaa at the end of the second trading day following the EGM)
Reason
Toboost financialsolvency
Fractional shares, if any, will be collected in a single portfolio for all shareholders and sold at market price. Their value will be distributed among the eligibleshareholders on pro rata within30 days maximum from the date of determining the new shares eligible for each shareholder.
The employee share program was also approved, and the board was delegated to set the related terms, including the allocation price for each share offered to employees, if paid.
In addition, shareholders greenlit the repurchase of up to 5 million shares to allocate them for the employee stock option.
The repurchase process will be funded by the bank’s internal resources. The board will complete the buyback process within 12 months maximum from the EGM date.
ANB will retain the repurchased shares for a maximum of 10 years from the EGM date until they are allocated to the stock employee option. After this period, the procedures and controls stipulated in the applicable regulations will be applied.
The Saudi Exchange (Tadawul) announced that fluctuation limits on the stock will be based on a share price of SAR 21.18 today, May 21, and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into investor portfolios before start of trading on May 23.
