AI Summary
Tadawul trading screen
Several Saudi-listed companies on TASI and Nomu decided to split the nominal value of their shares from SAR 10 into different values following the implementation of the New Companies Law in early 2023.
The New Companies Law and its Implementing Regulations stipulate that shares may be divided into shares of lower nominal value, or merged to represent shares of higher nominal value. The competent authority has the right to set the necessary controls for stock split.
So far, the general assemblies of 28 listed companies approved reducing the nominal value of their shares.
The par value reduction aims to improve liquidity by increasing the number of shares available for trading.
At the close of Sunday, July 2, the performance of the shares of the companies that split their shares in TASI and Nomu-Parallel Market varied, as shown in the following table:
|
Performance of Companies Announcing Stock Split |
|||||
|
Company |
New nominal value |
Split-Adjusted price* |
Start date of trading at the new price |
Close as of July 2 |
Change |
|
TASI |
|||||
|
Al Kathiri |
0.50 |
3.47 |
April 13 |
3.10 |
(11%) |
|
2P |
1.00 |
23.50 |
June 8 |
21.18 |
(10%) |
|
Sadr |
1.00 |
4.42 |
June 15 |
4.04 |
(9%) |
|
Retal |
1.00 |
12.22 |
May 3 |
11.36 |
(7%) |
|
Saudi Chemical |
1.00 |
3.77 |
June 22 |
3.61 |
(4%) |
|
Alsaif Gallery |
1.00 |
9.30 |
July 2 |
9.27 |
(0.3%) |
|
Jarir |
1.00 |
16.60 |
May 31 |
16.58 |
(0.1%) |
|
Batic |
1.00 |
2.34 |
June 22 |
2.35 |
0.4 % |
|
BinDawood Holding |
1.00 |
7.43 |
July 2 |
7.50 |
1 % |
|
Thob Al Aseel |
1.00 |
5.25 |
June 21 |
5.31 |
1 % |
|
Shams |
0.50 |
0.87 |
June 13 |
0.89 |
2 % |
|
Al Othaim |
1.00 |
13.68 |
June 6 |
14.00 |
2 % |
|
Al Hokair Group |
1.00 |
2.52 |
June 22 |
2.66 |
6 % |
|
Nomu |
|||||
|
Tadweeer |
1.00 |
9.26 |
April 6 |
7.39 |
(20%) |
|
IHR |
0.50 |
3.24 |
June 4 |
2.85 |
(12%) |
|
KEIR |
1.00 |
5.74 |
June 21 |
5.14 |
(10%) |
|
Academy of Learning |
1.00 |
7.05 |
June 15 |
6.32 |
(10%) |
|
CMCER |
1.00 |
5.90 |
June 21 |
5.38 |
(9%) |
|
Azm |
0.50 |
12.44 |
June 19 |
11.40 |
(8%) |
|
Banan |
1.00 |
6.60 |
June 15 |
6.20 |
(6%) |
|
Ladun |
1.00 |
1.81 |
June 1 |
1.75 |
(3%) |
|
Nofoth |
1.00 |
16.82 |
June 20 |
16.66 |
(1%) |
|
Fesh Fash |
1.00 |
17.50 |
July 2 |
17.46 |
(0.2%) |
|
Rawasi |
1.00 |
5.90 |
June 13 |
6.14 |
4 % |
|
Burgerizzr |
1.00 |
8.39 |
June 1 |
9.01 |
7 % |
|
MOBI |
1.00 |
7.37 |
July 2 |
8.40 |
14 % |
|
WAJA |
0.50 |
6.00 |
June 20 |
6.85 |
14 % |
|
Future Care |
0.10 |
16.00 |
June 12 |
32.20 |
101 % |
*Split-adjusted share price after extraordinary general meeting (EGM) approval and stock split application.
Meanwhile, other companies are still awaiting the green light of their general assemblies to proceed with stock split, of which three firms are set to hold their meetings this week.
|
Companies Still Awaiting Shareholders’ Approval |
||
|
Company |
Details |
EGM date |
|
AlBaha |
July 4, 2023 |
|
|
Anaam |
July 6, 2023 |
|
|
Naqi Water |
To be determined |
|
|
Sadirat |
To be determined |
|
|
Electrical Industries |
To be determined |
|
|
ACIG |
To be determined |
|
|
Zoujaj |
To be determined |
|
|
GACO |
To be determined |
|
|
Knowledge Tower |
July 5, 2023 |
|
|
AICTEC |
To be determined |
|
|
National Building |
To be determined |
|
|
Molan Steel |
To be determined |
|
|
AlNaqool |
To be determined |
|
|
GAS |
To be determined |
|
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