Riyadh – Mubasher: The board of Alinma Bank has recommended raising the capital by 33.3% to SAR 20 billion through the issuance of bonus shares.

The proposed capital hike will increase the company’s capital from SAR 15 billion to SAR 20 billion, using part of the company’s reserve.

Three bonus shares will be issued for each original share, according to the company’s statement to the Saudi Stock Exchange (Tadawul).

The aim is to enhance the bank’s resources and achieve good growth rates over the coming years.