Bank AlJazira shareholders approve 25% capital hike via bonus issue

Bank AlJazira headquarter

Shareholders of Bank AlJazira approved the board's proposal to raise capital by 25% during an extraordinary general meeting (EGM) held on April 28.

The increase will be made through distributing one bonus share for every four shares held, capitalizing SAR 2.56 billion, according to a statement to Tadawul.

Fractional shares, if any, will be compiled in one portfolio for shareholders and will be sold at market price. The proceeds will then be distributed to eligible shareholders, as per their respective ownership, within a period not exceeding 30 days from the date of determining the new shares eligible for each shareholder.

The bank pointed out that the shareholders also authorized the board of directors to distribute interim dividends, quarterly or semi-annually, for 2025.

The Saudi Exchange (Tadawul) said that the fluctuation limits today, April 29, for Bank AlJazira will be based on a share price of SAR 13.64.

Edaa will deposit the bonus shares into shareholders' portfolios before the start of trading on May 1, 2025.