CMA approves Riyad Bank capital raise

The Capital Market Authority (CMA) approved proposed capital raise of Riyad Bank from SAR 15 billion to SAR 30 billion (100%).

The capital raise is to take place by issuing of one bonus share for each one share owned by registered shareholders, as SAR 671.62 million of retained earnings will be capitalized, the CMA said.

The raise will increase the company’s listed shares from 1,500,000,000 shares to 3,000,000,000 shares.