Molan Steel board plans 10-for-1 stock split

Logo of Molan Steel Co.

The board of directors of Molan Steel Co. recommended, on May 2, to split the stock par value from SAR 10 to SAR 1, according to a statement to Tadawul.

 

Accordingly, the total number of shares will increase to 26.6 million from 2.66 million shares.

 

The company is committed to complete the necessary relevant procedures, the statement added, indicating that any updates in this regard will be announced in due course.

 

Stock Split Details

Current Capital

SAR 26.6 mln

Number of Shares

2.66 mln

Par Value

SAR 10/share

Share Capital

SAR 26.6 mln

New Number of Shares

26.6 mln

Par Value after Stock Split

SAR 1/share
 

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