SAIB treasury shares rights trading period ends today

Logo of Saudi Investment Bank

Saudi Investment Bank’s (SAIB) treasury shares rights trading period ends today, Aug. 23.

Rights issue trading period and the treasury shares purchase period started on Aug. 16.

Rights issue subscription period, which also started on Aug. 16, will end on Aug. 26.

Holders of rights issue are allowed to exercise their right to buy treasury shares up to the number of rights available in their portfolios. The rights trading and purchase of the treasury shares for registered shareholders and new investors shall be according to the sale of treasury shares circular.

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
Rights Trading Period	From Aug. 16-23, 2021

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