Al Rajhi Bank shareholders to vote on 60% capital increase to SAR 25 bln on May 8

Al Rajhi Bank shareholders will vote on the board's recommendation on capital increase to SAR 40 billion from SAR 25 billion through a 60% bonus issue, during the extraordinary general meeting (EGM) scheduled for May 8.

The capital increase will be financed through the capitalization of SAR 15 billion from the retained earnings via distributing three bonus shares for every five shares held.

Shareholders registered in Tadawulaty services can start voting remotely on the agenda items on May 4, at 10 am.