Bank Albilad’s general assembly approved a 20 percent capital hike to SAR 6 billion from SAR 5 billion through the issue of 1:5 bonus shares.
The hike will be financed through capitalizing SAR 468 million from their retained earnings account and SAR 532 from the bank’s statutory deposit as of Dec. 31, 2015, the bank said in a statement to the Saudi bourse, Tadawul.
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Capital Hike Details |
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Current Capital |
SAR 5 bln |
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Current number of shares |
500 mln shares |
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Capital hike percent |
20% (1 share for each 5 shares) |
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New capital |
SAR 6 bln |
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New number of shares |
600 mln shares |
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Record date |
April 11, 2016 |
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