24 Hrs
Source:
الاقتصادية
Market approves 20% capital boost for Saudi Investment
The Saudi Capital Market Authority has approved the Saudi Investment Bank's request to increase its capital by 20%, bringing it to 15 billion Riyals from the previous 12.5 billion Riyals. Shareholders will receive one free share for every five existing shares, with the exact record date to be announced later. The increase will be financed by converting 1.5 billion Riyals from the statutory reserve and 1 billion Riyals from retained earnings. This increase will raise the number of shares from 1.25 billion to 15 billion, aiming to support the bank's expansion and strengthen its capital base.
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