16.6000
Change
-0.0600
Change %
0.3601%
Open
16.6600
Close
16.6000
High
16.6600
Low
16.5800

SAIB denies plan to merge with local bank

2019-01-27 13:21:48 GMT (Economies.com)
 

Saudi Investment Bank (SAIB) on Sunday denied the news that spread on social media bout the bank’s plan to merge with another local bank.

 

The bank signed earlier an agreement to purchase the stake owned by shareholder Bank Mizuho, which amounts to 18.749 million shares, or 2.50% of the bank’s capital.

 

The agreement was valued at SAR 253.123 million, at SAR 13.50 per share, the bank said.

 

The bank does not intend to reduce capital through this agreement, as it plans to keep them as treasury shares and re-sell them later.

 
 
 
  Symbol Last Change Chg.%
1.1737
0.0022
0.1921%
1.3721
0.0045
0.3279%
Tadawul
11270.57
-40.58
0.36%
22.663
0.362
1.623%
73.380
2.447
3.450%
77.25
1.03
1.35%
1751.430
-5.375
0.306%
 
 
News Today