SAIB approves the purchase of Mizuho Bank’s stake

31/03/2019 Argaam

 

Saudi Investment Bank’s (SAIB) shareholders approved the purchase of Mizuho Bank’s entire stake in SAIB which represents 2.5 percent of capital for SAR 253.12 million or SAR 13.50 per share as treasury stocks, the bank said in a bourse statement.

 

The transaction will be financed from the bank’s internal resources.

 

The bank will not cut its capital by the amount of the purchased stock, instead it will keep the stocks as treasury stocks to be offered for resale to shareholders within 18 months through a rights issue.

 

Shareholders have also delegated the bank’s board of directors to complete the deal and resell the stocks on one or several stages.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.