Riyadh - Mubasher: The Capital Market Authority (CMA) agreed on the Saudi Investment Bank’s request to increase its capital from SAR 7 billion to SAR 7.55 billion.
The capital hike will be through bonus shares of 1:14 shares owned by registered shareholders at the end of trades on the extraordinary general meeting's (EGM) day.
The number of shares will go up from 700 million shares to 750 million shares, according to a bourse filing on Tuesday.
The CMA said that the value of the increase will be paid through transferring SAR 500 million from retained earnings.
The bonus shares will be limited to the shareholders of record at the end of trades on the EGM's day, which will be announced later, on condition not to exceed the six-month period from the approval’s date, the statement added.
