Edaa deposits SABB shares after capital hike into Alawwal Bank’s shareholder accounts

The Securities Depository Center (Edaa) has deposited the shares resulting from Saudi British Bank’s (SABB) capital hike into the accounts of eligible shareholders of Alawwal Bank, as the lenders’ merger came into effect, a statement on Tadawul said.

According to data compiled by Argaam, Alawwal Bank shareholders, who are registered in the bank’s share registry at Edaa by the end of the second trading period, are eligible to receive 0.48535396 SABB shares for every share held in Alawwal Bank.