CMA Greenlights Alinma Bank’s Capital Boost via Bonus Share Issuance

The Capital Market Authority (CMA) has granted approval for Alinma Bank’s proposal to bolster its capital from SAR 20,000,000,000 to SAR 25,000,000,000 by issuing one bonus share for every four existing shares held by shareholders registered in the shareholders registry at the Security Depository Center.

This issuance will occur after the closing of the second trading day following the determined due date set by the bank’s board. The increase will be funded by transferring SAR 5,000,000,000 from the “Retained Earnings” account to the bank’s capital. Consequently, the bank’s outstanding shares will rise from 2,000,000,000 to 2,500,000,000, marking an uptick of 500,000,000 shares. An extraordinary general assembly meeting is slated to take place within six months from the approval date, during which the bank will ensure compliance with all regulatory requisites and pertinent laws.