Riyadh-Mubasher: Saudi Investment Bank (SAIB) said the board proposed raising capital by 7.7% from SAR 6.5 billion to SAR 7 billion, through 1-for-13 bonus share distribution.
The top-up will be financed through capitalising SAR 500 million from retained earnings.
The move is aimed at boosting capital base, which will help enhance growth rates and business expansion over the next years.
Shareholders of record until the close of trading on the extraordinary general meeting date will be eligible for the distribution.
