Shams board recommends reverse stock split to SAR 10

Logo of Tourism Enterprise Co. (Shams)

Tourism Enterprise Co.’s (Shams) board recommended today, July 27, to reverse the share’s nominal value to SAR 10, instead of SAR 0.5. Accordingly, the company’s total shares will be reduced to 57.82 million from 1,156.47 million.

In a statement to Tadawul, the company stated that there was no change in the capital as a result of this procedure.

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Shams recently received a notification from the Saudi Tadawul Group (Tadawul) that the average closing price of the share had fallen below the minimum limit, according to data available on Argaam.

The deadline for the company to take a corrective measure started Sunday, July 20, 2025, and will last for three months, in accordance with Paragraph (c) of Article 33 of the Listing Rules.

In June 2023, the company split the nominal value of the share to SAR 0.5 per share. Its current capital amounts to SAR 578.24 million, divided into 1,156.47 million shares.