Alinma Bank BOD recommends increasing capital to 25 billion ‎riyals through a capitalization of 5 billion riyals

Alinma Bank announced the Board of Directors’ decision to recommend to the bank’s extraordinary general assembly an increase in capital from 20 billion riyals to 25 billion riyals, by capitalizing 5,000 million riyals from retained earnings by granting one share for every four shares.

The number of shares before the increase was 2 billion shares, so after the increase it became 2.5 billion shares, representing 25% of the capital.

The capital increase aims to enhance the bank’s financial solvency and preserve its resources in operational activities.

The eligibility for the bonus shares will be for the bank’s shareholders registered with the deposit center at the end of the second trading day following the day of the bank’s extraordinary general assembly.

In the event that there are fractional shares, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to their share, within a period not exceeding 30 days from the date of determining the new shares due to each shareholder.

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