Alinma Bank’s board of directors recommended a 33.33% capital hike to SAR 20 billion from SAR 15 billion through issuance of bonus shares.
The capital hike aims to boost the bank’s resources which would contribute to achieving positive growth rates.
The process is pending approval from the general assembly and regulator.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 15 bln |
|
Number of shares |
1.5 bln |
|
Hike (%) |
33.33% (1 share for every 3 shares) |
|
New Capital |
SAR 20 bln |
|
New number of shares |
2 bln |
|
Record date |
General assembly meeting |
|
Method |
Capitalizing SAR 5 bln from retained earnings account and reserves |
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