Bank Aljazira sets fluctuation limit for capital increase

11/04/2017 Argaam

Bank Aljazira’s fluctuation limit for its capital increase will be based on a share price of SAR 12.43, the bank said in a statement Tuesday.

 

Additional shares have been deposited into the portfolios of investors.

 

The bank’s extraordinary general assembly approved on April 10 increasing capital by SAR 1.2 billion to SAR 5.2 billion.

 

The lender will capitalize SAR 1.2 billion of retained earnings in order to facilitate the capital hike. Accordingly, outstanding shares will be increased to 520 million from 400 million.

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