Bank Aljazira will begin its rights issue today, March 25, to raise its capital to SAR 8.2 billion from SAR 5.2 billion.
The trading period will end on Sunday, April 1, while subscription will continue until Wednesday, April 4.
The rights issue will be the second to take place under the Saudi Stock Exchange’s (Tadawul) new mechanism for tradable rights, after Malath Cooperative Insurance Co.’s rights issue in October last year.
Bank Aljazira is offering 300 million regular shares at SAR 10 per share.
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Key Figures of the Capital Hike |
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Current capital |
SAR 5.2 bln |
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Number of shares |
520 mln shares |
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Capital hike percentage |
57.7% |
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New capital |
SAR 8.2 bln |
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Rights Issue |
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Number of shares |
300 mln |
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Rights issue price |
SAR 10/share |
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Rights issue size |
SAR 3 bln |
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Eligibility date |
March 19, including those registered at the Securities Depository Center on March 21 |
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Use of proceeds |
Strengthening capital base and financing expansion plans |
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Trading & subscription period |
Trading and subscription start on March 25. Trading period ends on April 1, while subscription ends on April 4 |
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Additional Information |
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Financial advisor |
Alinma Investment, JP Morgan Saudi Arabia |
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Underwriters |
Alinma Investment, MEFIC Capital, Mulkia Investment, Saudi Kuwait Finance House, and Wasatah Capital |
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