Electrical Industries’ board amends stock split proposal

05/07/2023 Argaam

Electrical Industries’ board amends stock split proposal

Logo of Electrical Industries Co.

Electrical Industries Co.’s board amended on July 4 the stock split recommendation to reflect the capital increase via a bonus share distribution, according to a statement to Tadawul.

 

Stock Split Details

Current Capital

SAR 562.5 mln

Current No. of Shares

56.25 mln

Stock Nominal Value

SAR 10 a share

New Capital

SAR 562.5 mln

No. of Shares

1.12 bln

Stock Nominal Value

SAR 0.50 a share
 
The company is committed to finalizing the relevant measures, the statement added.
 

Electrical Industries shareholders approved a board recommendation to raise capital by 25% through a one-for-four bonus share distribution, during the extraordinary general meeting (EGM) held on June 8, Argaam reported.

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