SAIB’s will increase its capital from SAR 12.5 billion to SAR 15 billion.
The Capital Market Authority (CMA) approved Saudi Investment Bank’s (SAIB) request to increase its capital from SAR 12.5 billion to SAR 15 billion by granting one bonus share for every five existing shares. 
Eligibility will be to shareholders registered in the issuer’s shareholder registry at the Securities Depository Center (Edaa) at the end of the second trading day following the record date, which will be set by the bank’s board at a later date.
In a statement, the CMA said the capital increase will be funded by transferring SAR 1.5 billion from the statutory reserve and SAR 1 billion from retained earnings. Accordingly, the number of shares will increase from 1.25 billion to 1.5 billion, an increase of 250 million shares.
The authority said the extraordinary general meeting (EGM) must be held within six months from the date of the approval, and the bank must complete the relevant statutory procedures and requirements.
According to Argaam, the bank’s board recommended the capital increase in May through a bonus share issue funded by capitalizing part of the statutory reserve and retained earnings, at a ratio of 1-for-5 shares.
The increase aims to strengthen the bank’s capital base, supporting higher growth and expansion in its operations over the coming years.
SAIB’s will increase its capital from SAR 12.5 billion to SAR 15 billion.
The Capital Market Authority (CMA) approved Saudi Investment Bank’s (SAIB) request to increase its capital from SAR 12.5 billion to SAR 15 billion by granting one bonus share for every five existing shares.
Eligibility will be to shareholders registered in the issuer’s shareholder registry at the Securities Depository Center (Edaa) at the end of the second trading day following the record date, which will be set by the bank’s board at a later date.
In a statement, the CMA said the capital increase will be funded by transferring SAR 1.5 billion from the statutory reserve and SAR 1 billion from retained earnings. Accordingly, the number of shares will increase from 1.25 billion to 1.5 billion, an increase of 250 million shares.
The authority said the extraordinary general meeting (EGM) must be held within six months from the date of the approval, and the bank must complete the relevant statutory procedures and requirements.
According to Argaam, the bank’s board recommended the capital increase in May through a bonus share issue funded by capitalizing part of the statutory reserve and retained earnings, at a ratio of 1-for-5 shares.
The increase aims to strengthen the bank’s capital base, supporting higher growth and expansion in its operations over the coming years.
