SAIB deposits proceeds from fractional shares after capital hike

Logo of Saudi Investment Bank

Saudi Investment Bank (SAIB) completed, on Feb. 24, depositing the proceeds from selling fractional shares resulting from the company’s capital increase in the accounts of eligible shareholders, according to a bourse filing.

The bank sold 2,158 fractional shares on Feb. 7, at SAR 16.54 per share, for a total of SAR 35,631.

Earlier this month, the bank’s shareholders approved the board’s recommendation on increasing capital from SAR 7.5 billion to SAR 10 billion through a 33.33% bonus share, Argaam reported.