Bank AlJazira headquarter
Shareholders of Bank AlJazira approved the board's proposal to raise capital by 25% during an extraordinary general meeting (EGM) held on April 28.
The increase will be made through distributing one bonus share for every four shares held, capitalizing SAR 2.56 billion, according to a statement to Tadawul.
|
Capital Increase Details |
|
|
Current Capital |
SAR 10.25 bln |
|
Number of Shares |
1.02 bln |
|
Capital Increase (%) |
25% |
|
New Capital |
SAR 12.8 bln |
|
Number of Shares |
1.28 bln |
|
Method |
1-for-4 bonus issue |
|
Capitalization |
Capitalizing SAR 2.56 bln equally from statutory reserve and retained earnings. |
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Record Date |
April 28, 2025 - Shareholders of record and those registered with Edaa by the close of the second trading day following the EGM. |
|
Reason |
To enhance the bank's capital base to achieve its strategic goals. |
Fractional shares, if any, will be compiled in one portfolio for shareholders and will be sold at market price. The proceeds will then be distributed to eligible shareholders, as per their respective ownership, within a period not exceeding 30 days from the date of determining the new shares eligible for each shareholder.
The bank pointed out that the shareholders also authorized the board of directors to distribute interim dividends, quarterly or semi-annually, for 2025.
The Saudi Exchange (Tadawul) said that the fluctuation limits today, April 29, for Bank AlJazira will be based on a share price of SAR 13.64.
Edaa will deposit the bonus shares into shareholders' portfolios before the start of trading on May 1, 2025.
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