Logo of Electrical Industries Co. (EIC)
Electrical Industries Co.’s (EIC) board recommended on May 21 reducing the stock’s par value from SAR 10 to SAR 0.50 apiece to the upcoming extraordinary general meeting (EGM).
In a statement to Tadawul, the company pointed out that the number of shares post-stock split will rise to 900 million from 45 million.
EIC will complete the related paperwork and duly announce any updates, the statement added.
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Stock Split Details |
|
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Current Capital |
SAR 450 mln |
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Number of Shares |
45 mln |
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Share Par Value |
SAR 10 |
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New Capital |
SAR 450 mln |
|
New Number of Shares |
900 mln |
|
Par Value After Stock Split |
SAR 0.50 |
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