SAIB closes subscription period for treasury shares today

Saudi Investment Bank’s headquarters

Saudi Investment Bank’s (SAIB) rights issue subscription period for treasury shares will close today, Aug. 26, according to a bourse statement.

The rights trading and the treasury shares purchase period started on Aug. 16, while the rights trading period to purchase treasury shares ended on Aug. 23.

Sale of Treasury Shares Details
Sale Process	Sale of treasury shares to eligible investors through a methodology similar to that of rights issuance
Sale Purpose	Enhance the bank’s financial position. The sale proceeds will be used to boost SAIB’s capital base and liquidity, and to finance future expansions
Eligibility	Aug. 11, 2021
Number of Treasury Shares	75 mln
Total Treasury Shares for Sale	75 mln
New Investors	All investors, including retail and unregistered institutional investors that purchased rights during the trading period
Eligibility Coefficient	One right for every nine shares held
Treasury Shares/Capital	9.99%
Purchase Period	From Aug. 16-26, 2021

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