The Saudi Investment Bank or SAIB was established as a Saudi joint stock company, pursuant to Royal Decree No. M/31 dated Jumada al-Thani 25, 1396 AH (corresponding to June 23, 1976 AD) in the Kingdom of Saudi Arabia, but its actual activity began in March March 1977 AD. the date On September 27, 2018, The Saudi Investment Bank acquired 56,245,350 shares of the Bank's shares owned by the former shareholder, J.P. Morgan International Finance Company. On May 28, 2019, the Bank acquired 18,749,860 shares of the Bank's shares owned by the previous shareholder, Mizuho Bank Co., Ltd. The total number of shares acquired amounted to 74,995,210 shares, which were kept by the Bank as treasury shares. On August 4, 2021, the Extraordinary General Assembly approved offering treasury shares by following a mechanism similar to the mechanism for issuing rights issues. On August 05, 2021 AD, the bank announced the decision of the Board of Directors, and the eligibility date was set to be August 11, 2021 AD, and the offering price was set at 13.5 riyals.
