SAIB shareholders to vote on 25% bonus issue to raise capital on April 30

Logo of Saudi Investment Bank (SAIB)

Shareholders of The Saudi Investment Bank (SAIB) will vote on the board’s recommendation on the distribution of one bonus share for every four shares held to raise capital by 25% during the extraordinary general meeting (EGM) scheduled for April 30.

  

Capital Increase Highlights

Current Capital

SAR 10 bln

Current Number of Shares

1 bln

Capital Increase (%)

25%

New Capital

SAR 12.5 bln

New Number of Shares

1.25 bln

Nature & Value of Reserve

Capitalizing SAR 2.5 bln of statutory reserve

Eligibility

April 30, 2024 (Shareholders of record, and those registered with Edaa on the second trading day following the record date)

Reason

Strengthening the bank’s capital base, to boost growth rates and expand its business in the coming years
 

The announced cash dividend does not include bonus shares, SAIB said in a statement to Tadawul.

 

Other agenda items include authorizing the board of directors to pay semi-annual or quarterly dividend for 2024.

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