National Building board proposes 10:1 stock split

08/05/2023 Argaam

National Building board proposes 10:1 stock split

Logo of National Building and Marketing Co. (NBM)

National Building and Marketing Co. board of directors recommended today, May 8, reducing the stock's par value from SAR 10 to SAR 1.

 

In a statement to Tadawul, the firm pointed out that the company’s capital will remain unchanged.

 

The proposal will increase the number of shares from 12 million to 120 million.

 

The company affirmed its commitment to complete the necessary relevant procedures, indicating that the recommendation is subject to an approval of the extraordinary general meeting.

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