Bank AlJazira’s head office
Bank AlJazira‘s board of directors suggested today, Jan. 25, a 25% capital boost, through capitalizing part of the statutory reserve, by dispersing one benefit share for each 4 existing shares, according to a declaration to Tadawul
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Capital Increase Details |
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Present Capital |
SAR 8.2 bln |
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Variety of shares |
820 mln |
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Capital boost (%) |
25% |
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New Capital |
SAR 10.25 bln |
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New Number of Shares |
1.02 bln |
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Technique |
Dispersing one reward share for each 4 shares held |
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Nature & & Value of Reserve |
Capitalizing SAR 2.05 bln from statutory reserve |
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Eligibility |
Investors of record who are signed up with Edaa on the 2nd trading day following the amazing basic conference (EGM), the date for which will be figured out later on |
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Factor |
Supporting the bank’s capital base, therefore allowing it to attain its tactical objectives |
Fractional shares, if any, will be gathered in one portfolio for all investors and cost the marketplace cost, then their worth will be dispersed amongst the qualified investors, on a professional rata basis, within a duration not surpassing 30 days from the date of figuring out the shares due to each investor, according to the business’s declaration.
The capital boost goes through the approval of the qualified authorities along with the business’s EGM.