AlNaqool board recommends 10-for-0.5 stock split

27/04/2023 Argaam

AlNaqool board recommends 10-for-0.5 stock split

Logo of Mohammed Hasan AlNaqool Sons Co.

Mohammed Hasan AlNaqool Sons Co.’s board recommended today, April 27, splitting the stock's nominal value from SAR 10 to SAR 0.50.

 

In a statement to Tadawul, the company said the number of shares will be increased to 58 million from 2.90 million, with no change in capital.

 

The stock split will be implemented when the company completes the regulatory procedures and obtains the approval of shareholders.

 

Stock Split Details

Current capital

SAR 29 mln

Number of shares

2.9 mln

Current par value

SAR 10 per share

Capital after stock split

SAR 29 mln

New number of shares

58 mln

Par value after stock split

SAR 0.50 per share

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