CMA Approves Saudi Investment Bank’s Capital Increase Request via Bonus Share Issuance

The Capital Market Authority (CMA) has granted approval for the Saudi Investment Bank’s proposal to raise its capital from SAR 10,000,000,000 to SAR 12,500,000,000 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 yet-to-be-determined due date set by the bank’s board. The SAR 2,500,000,000 increase will be funded by transferring funds from the “Statutory Reserve” account to the bank’s capital. Consequently, the bank’s outstanding shares will rise from 1,000,000,000 shares to 1,250,000,000 shares, reflecting an increase of 250,000,000 shares. The extraordinary general assembly is mandated to convene within six months from the approval date, ensuring compliance with all regulatory requirements and relevant laws.