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Alinma Bank’s board of directors recommended on Dec. 31, 2023, a 25% capital increase from SAR 20 billion to SAR 25 billion, through distributing one bonus share for every four existing shares, to be capitalized from the retained earnings, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 20 bln |
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Number of Shares |
2 bln |
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Percentage of Increase |
25% |
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New Capital |
SAR 25 bln |
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New Number of Shares |
2.5 bln |
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Method |
A bonus share distribution at 1-for-4 |
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Capitalization |
Capitalization of SAR 5 billion from the retained earnings |
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Record Date |
Shareholders of record and those registered with Edaa on the second trading day following the extraordinary general meeting (EGM), the date for which will be determined later. |
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Reason |
To enhance the bank's financial solvency and retain resources in operational activities. |
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at the market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
The decision is conditional to approvals from competent authorities and shareholders.
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