Bank Albilad shareholders approve 20% capital hike via 1:5 bonus issue

Logo of Bank Albilad

Shareholders of Bank Albilad approved during the extraordinary general meeting (EGM), held on April 14, the board’s proposal to raise capital by 20% to SAR 15 billion through distributing one bonus share for every five shares held, according to a statement to Tadawul.

 

Capital Increase Details

Current Capital

SAR 12.5 bln

Current Number of Shares

1.25 bln

Increase Percentage (%)

20%

New Capital

SAR 15 bln

New Number of Shares

1.5 bln

Method

1 bonus share for every 5 shares held

Nature & Value of Reserve

Capitalizing SAR 1.5 bln from retained earnings and SAR 1 bln from statutory reserve

Eligibility

April 14, 2025 (Shareholders registered with Edaa on the second trading day following the record date)

Reason

Strengthening the bank’s financial solvency and utilizing its resources for operating activities
 

Fractional shares, if any, will be compiled into a single portfolio for all shareholders, to be sold at market price. Their value will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.

 

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The statement 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 15, for Bank Albilad will be based on a share price of SAR 29.25 and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into investor portfolios before the beginning of trading on April 17.

 

Moreover, shareholders elected a new board of directors for the upcoming three-year term, starting April 17, 2025. The new board includes Naser Alsubeaei, Adeeb Abanamy, Abdulaziz Alonaizan, Khalid Alrajhi, Nasser AlNasser, Mohammed Al Rajhi, Haitham AlFayez, Moaz Al-Husseini, Haitham Al-Sohemy, Zaid Al Gwaiz, and Abdulaziz Albassam.

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