Riyad Bank GA approves 100 % capital raise

27/05/2014 Argaam

The extraordinary general assembly of Riyad Bank, Saudi Arabia's third-largest bank in terms of assets, approved 100 % capital raise (from SAR 15 bn to SAR 30 bn) in a meeting held Monday May, 26, 2014.

 

The Capital raise is to take place by issuing one bonus share to each one share owned by registered shareholders.

 

By this issuance the number of outstanding shares will increase from 1500 m shares to 3000 m.

 

Capital raise details

Current capital

SAR 15000 mn

Number of shares

1500 mn shares

Capital raise (%)

100% ( 1 for every 1 share)

New capital

SAR 30000 mn

# of Shares after raise

3000 mn shares

Record date

May, 26, 2014

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