Logo of Al-Baha Investment and Development Co.
Al-Baha Investment and Development Co. shareholders approved reducing the stock's par value from SAR 10 to SAR 0.10, during the extraordinary general meeting (EGM) held on July 4.
In a statement to Tadawul, Al-Baha said the company’s capital remains unchanged.
|
Current Capital |
SAR 297 million |
|
Number of Shares |
29.7 mln |
|
Share Par Value |
SAR 10 |
|
New Capital |
SAR 297 million |
|
New Number of Shares |
2.97 bln |
|
Par Value After Stock Split |
SAR 0.10 |
|
Effective Date |
July 4, 2023 (Including those registered with Edaa on the second trading day following the EGM) |
The company said the decision will be effective for all shareholders on the day following the EGM, and those registered with Securities Depository Center (Edaa) at the end of the second trading day following the EGM, during which the stock split is approved.
In a separate statement, Tadawul announced that the stock’s fluctuation limits will be based on a share price of SAR 0.19 for today, July 5. Accordingly, the outstanding orders will be canceled.
Edaa will deposit the split shares into investors’ portfolios by July 9, the statement added.
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