Financial and Banking News
Samba Will Double Share Capital via Stock Dividend
The Saudi American Bank (Samba) has announced that it will double its sharecapital from SR600mn ($160mn) to SR1,200mn before the end of the year through anissue of new shares created by a transfer of SR600mn from accumulated reservesand retained earnings into equity capital. Six million new shares will be issuedon a one-to-one ratio, effective December 1992. Samba's...