The Saudi Investment Bank Board of Directors has approved a recommendation to the Extraordinary General Assembly, and subject to the approval of the regulatory authorities, to increase it’s capital from 4,500 million Riyals to 5,500 million Riyals being an increase of 22.2% by issuing one bonus share for every 4.5 outstanding shares. This will increase the total number of shares from 450 million to 550 million. This increase will improve the bank’s capital base that will contribute to the growth and the expansion of the business. Eligibility for the bonus shares will be on the date of the Extraordinary General Assembly, which will be announced at a later stage, after the approval of the regulatory authorities.
23/01/2011
