Saudi Bank approves bonus shares

Saudi Investment Bank said it planned to offer investors one free share for every 6.63 they held, raising its total share capital by 15.1 per cent.

The bank's capital would be SR4.5 billion ($1.20bn), from SR3.91bn, after the bonus share issue, approved by the lender's board of directors, Saudi Investment said in a statement on the bourse website on Tuesday.