CMA approves BSF request to increase its capital through a bonus share issue

The Capital Market Authority announced its approval of the request of the Banque Saudi Fransi to increase its capital from 12.05 billion riyals to 25 billion riyals by granting (1.07) free shares for every (1) existing share owned by shareholders registered in the issuer’s shareholders’ registry at the Depository Center at the end of the second trading day following the due date, the date of which will be determined by the Bank’s Board of Directors at a later time.

According to the Authority, the value of the increase in capital will be paid by transferring an amount of 5 billion riyals from the “statutory reserve” item and an amount of 7.94 billion riyals from the “retained earnings” item, thus increasing the number of shares from 1.20 billion shares to 2.5 billion shares, an increase of 1.29 billion shares. The date of the Extraordinary General Assembly shall not exceed 6 months from the date of this approval, and the Bank shall complete the relevant regulatory procedures and requirements.