Bank Albilad EGM to vote on raising capital to SAR 15B via bonus issue on April 14

Logo of Bank Albilad

Bank Albilad’s shareholders are set to vote on a 20% capital hike to SAR 15 billion via a 1:5 bonus share distribution, during the extraordinary general meeting (EGM) to be held on April 14, as follows:

 

Capital Hike Details

Current Capital

SAR 12.5 bln

Current Number of Shares

1.25 bln

Percentage Increase

20%

New Capital

SAR 15 bln

New Number of Shares

1.5 bln

Method

1-for-5 bonus share distribution

Reserves

Capitalizing SAR 1.5 bln from retained earnings and SAR 1 bln from the statutory reserve

Record Date

April 14, 2025 (Shareholders registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the record date)

Reason

Strengthening the bank’s financial position and preserving its resources for operational activities
 

Fractional shares, if any, will be compiled into one portfolio for all shareholders and will be offered at market price. Proceeds will be distributed among eligible shareholders pro rata within 30 days maximum.

 

Other agenda items include voting on authorizing the board of directors to pay interim dividends on a semi-annual or quarterly basis for 2025.

 

For more news on listed companies

 

In February, Bank Albilad’s board recommended a 20% capital top-up via a 1:5 bonus issue. Earlier this month, the Capital Market Authority (CMA) approved the bank’s capital hike file, according to Argaam’s data.

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