Alsaif Gallery shareholders approve 10-for-1 stock split

02/07/2023 Argaam

Alsaif Gallery shareholders approve 10-for-1 stock split

Logo of AlSaif Stores for Development and Investment Co. (Alsaif Gallery)

Shareholders of AlSaif Stores for Development and Investment Co. (Alsaif Gallery) approved the board’s recommendation to reduce the stock’s par value from SAR 10 to SAR 1, during the extraordinary general meeting (EGM) held on June 22, according to a statement to Tadawul.

 

Stock Split Details

Current Capital

SAR 350 mln

Number of Shares

35 mln

Share Par Value

SAR 10

New Capital

SAR 350 mln

New Number of Shares

350 mln

Nominal Value after Split

SAR 1
 

Alsaif Gallery’s daily trading fluctuation limit will be based on a share price of SAR 9.30 as of today, June 2, and the outstanding orders will be canceled, Tadawul said in a statement.

 

Edaa will deposit the split shares into the investor’s portfolios by July 4, the statement added.

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