The Saudi Investment Bank declared that it’s Board of Directors has approved the recommendation to the Extraordinary General Assembly, subject to the approval of the regulatory authorities, to increase it’s capital from SAR 3,910 million (391,016,000 shares) to SAR 4,500 million (450,000,000 shares) being an increase of 15.1% , by issuing one new share for every 6.63 outstanding shares. This will increase the total number of outstanding shares by 58,984,000. This increase coincides with the Bank’s business expansion and it’s future plans. The date of the Extraordinary General Assembly meeting and the eligibility for the new shares will be announced soon after obtaining the approval of the regulatory authorities.
08/01/2008
