Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) approved Bank AlJazira’s request to raise its capital through bonus shares.
The capital will be increased from SAR 4 billion to SAR 5.2 billion through issuing 3:10 bonus shares, according to a bourse filing on Thursday.
Consequently, the number of shares will grow from 400 million shares to 520 million shares.
Such increase will be paid by transferring an amount of SAR 1.22 billion from the retained earnings’ account to the bank's capital, the statement said.
Shareholders of record at the closing of trading on the day of the extraordinary general meeting (EGM) will be eligible for the raise.
