The BOD of The Saudi Investment Bank recommends a capital raise

19/12/2013 Tadawul

The Saudi Investment Bank board of directors recommended on December 19, 2013 to the extraordinary general assembly, after obtaining approval from the concerned authorities, to increase the Bank capital by 9.1% from SAR 5,500 million to SAR 6,000 million representing a distribution of 1 bonus share for every 11 shares, increasing the total outstanding shares from 550 million to 600 million.

This capitalization will be through the transfer from the retained earnings.

This increase in capital is aimed to support the Bank capital base which will increase the growth percentages and meet the future increases in the Bank activities.

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