BSF board plans capital hike to SAR 25B via 1:1 bonus issue

Logo of Banque Saudi Fransi (BSF)

Banque Saudi Fransi’s (BSF) board of directors recommended today, May 30, a 107.4% capital top-up from SAR 12.05 billion to SAR 25 billion, through distributing one bonus share for every existing share, as follows:

Capital Increase Details
Current Capital	SAR 12.05 bln
Number of Shares	1.2 bln
Percentage of Increase	107.41%
New Capital	SAR 25 bln
New Number of Shares	2.5 bln
Method	1-for-1 bonus share distribution
Capitalization	Capitalizing SAR 12.95 bln from retained earnings and statutory reserve
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
Reason	To enhance the bank's financial position and contribute to achieving its strategic objectives

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, which was granted the Saudi Central Bank’s (SAMA) no-objection, is conditional to approvals from competent authorities and EGM.

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}}

Most Read

Market Indices

Quotes

Popular Links

Quick Links

About Us

Join Us

Follow Us