Saudi British Bank Heads for Four-Month High on Capital Increase

Saudi British Bank (SABB) headed for the highest close in four months after the lender, 40 percent owned by HSBC Holdings Plc (HSBA), received approval to increase capital by issuing one bonus share for every three held.

The shares rose 0.7 percent to 41.3 riyals at 11:28 a.m. in Riyadh, poised for the highest close since Sept. 5.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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