‎Shares of Al Rajhi Bank hit all-time high

‎Shares of Al Rajhi Bank hit all-time high

Shares of Al Rajhi Bank hit their highest price since listing, at SAR 117.40, today, May 9.

The stock rose by more than 3% to SAR 116.40, with a trading volume of nearly 3.6 million shares so far.

The bank’s extraordinary general meeting (EGM) approved yesterday the board’s recommendation to increase capital from SAR 25 billion to SAR 40 billion via 60% bonus issue, or three shares for every five existing shares.

The Saudi Exchange (Tadawul) announced today, May 9, that the fluctuation limits for Al Rajhi Bank will be based on a share price of SAR 112.40 and the outstanding orders will be canceled.

Al Rajhi Bank was founded in 1957. Later in 1978, Al Rajhi’s various sole proprietorships were merged together as Al Rajhi Banking Trading Co. It was established as a Saudi joint stock company in 1988.

The bank opened its first men's branch at Deira district, Riyadh, in 1957 and the first women's branch at Al-Shemaysi neighborhood in 1979.

The lender carries out a full range of Shariah-compliant banking and investment operations for own or third-party purposes locally and overseas.

The bank was listed on the Saudi Stock Exchange (Tadawul) on Dec. 1, 1988.

The following table shows the bank’s key financial indicators:

The bank