Ghida Al-Sultan board recommends 10-for-0.5 stock split

Logo of Ghida Al-Sultan Co.

Ghida Al-Sultan Co.’s board of directors recommended, on Oct. 12, to reduce the stock’s nominal value from SAR 10 to SAR 0.50, according to a statement to Tadawul.

 

Thus, the number of shares would reach 64 million, compared to 3.2 million, while maintaining the company’s capital intact.

 

The company will finalize the necessary relevant procedures and will reveal any developments in due course, the statement added.

 

Stock Split Details

Current Capital

SAR 32 mln

Number of Shares

3.2 mln

Share Par Value

SAR 10

New Capital

SAR 32 mln

New Number of Shares

64 mln

Par Value After Stock Split

SAR 0.5

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