Saudi Arabia's Capital Market Authority (CMA) approved Bank Albilad’s request to raise its capital from SAR 12,500,000,000 to SAR 15,000,000,000 by issuing bonus shares. The bank will issue one bonus share for every five existing shares to shareholders registered in the shareholders registry at the Securities Depository Center as of the close of the second trading day after a due date to be set by the bank’s board. The increase will be funded by transferring SAR 1,000,000,000 from the statutory reserve and SAR 1,500,000,000 from retained earnings, lifting outstanding shares from 1,250,000,000 to 1,500,000,000. An extraordinary general assembly must be held within six months of the CMA approval, and the bank is required to meet all regulatory requirements and applicable laws.
Saudi Arabia Capital Markets Authority 2025-03-10
Saudi Arabia's Capital Market Authority approves Bank Albilad SAR 2.5bn capital increase via 1-for-5 bonus share issue
Saudi Arabia's Capital Market Authority approved Bank Albilad's capital increase from SAR 12.5 billion to SAR 15 billion via bonus shares. The bank will distribute one bonus share for every five existing shares, funded by transferring SAR 1 billion from the statutory reserve and SAR 1.5 billion from retained earnings. An extraordinary general assembly must be convened within six months, complying with all regulatory requirements.