Edaa implements corporate action on Saudi National Bank after merger with Samba

Logo of Saudi National Bank

The Securities Depository Center Co. (Edaa) implemented the securities quantity increase for Saudi National Bank, resulting from merger with Samba Financial Group.

The quantity increase was deposited through securities exchange on the center’s accounts of eligible shareholders registered in Samba as of today, April 5, 2021.

In a separate statement, Saudi National Bank announced the listing completion of consideration shares issued to Samba’s eligible shareholders in respect of the merger.

Therefore, the merger has been completed as set out in the shareholder circular, the bank noted.

Last week, Samba and National Commercial Bank (NCB) announced the completion of the merger, with the new entity starting operations under Saudi National Bank name.

Details of NCB’s Capital Increase
Current capital	SAR 30 bln
No. of shares	3 bln shares
Post-increase capital	SAR 44.78 bln
No. of shares post-increase	4.48 bln shares
Increase	49.3%
Purpose of increase	Merge Samba Financial Group into NCB through transferring the former's assets and liabilities to the latter under share swap.
Increase method	The issuance of 1.478 billion ordinary shares for the planned merger, and transfer of Samba's assets and liabilities to NCB through the swap agreement.
Swap co-efficient	Samba shareholders will receive 0.739 share in NCB for each owned share in Samba.
Eligibility	For shareholders registered with Samba on April 4, 2021

For More M&As

Comments {{getCommentCount()}}

Be the first to comment

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

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.

Comments {{getCommentCount()}}

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

{{comment.DisplayName}}

Related News

Most Read

Market Indices

Quotes

Popular Links

Quick Links

About Us

Join Us

Follow Us