Riyadh – Mubasher: The Capital Market Authority (CMA) has approved a request from Saudi Hollandi Bank (SHB) to double its capital from SAR 5.71 billion to SAR 11.43 billion, according to a bourse filing posted Thursday.
The capital raise will be effected through issuing one bonus share for every one existing share that is owned by shareholders of record till the closing of trading on the extraordinary general meeting date.
The increase will be paid by transferring SAR 1.67 billion from retained earnings account and SAR 4.04 billion from the statutory reserve account to the bank's capital.
