Nofoth board proposes 10-for-1 stock split

01/05/2023 Argaam

Nofoth Food board proposes 10-for-1 stock split

Logo of Nofoth Food Products Co.

Nofoth Food Products Co.’s board of directors recommended during its meeting, on April 30, reducing the stock's par value from SAR 10 to SAR 1. 

 

In a statement to Tadawul, the company pointed out that the number of shares will accordingly increase from 2.4 million to 24 million.

 

The company is committed to completing all the relevant stock-split related procedures.

 

Any material developments will be announced in due course, the retailer added.

 

Stock Split Details

Current Capital

SAR 24 mln

Number of Shares

2.4 mln

Par Value

SAR 10/share

New Capital

SAR 24 mln

New Number of Shares

24 mln

Par Value After Stock Split

SAR 1/share
 

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