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One of Naqi Water production line
Naqi Water Co.'s board of directors amended today, June 20, its recommendation to reduce the stock's par value to SAR 0.10 instead of SAR 1, while keeping the company’s capital unchanged.
Therefore, the number of shares will be 2 billion instead of 20 million, the company said in a statement to Tadawul.
Stock Split Details |
|
Current Capital |
SAR 200 mln |
Number of Shares |
20 mln |
Share Par Value |
SAR 10 |
New Capital |
SAR 200 mln |
New Number of Shares |
2 bln |
Par Value After Stock Split |
SAR 0.10/share |
The stock split decision is subject to the approval of related regulatory authorities and the company's extraordinary general meeting (EGM).
Last May, Naqi Water’s board of directors recommended reducing the stock's par value from SAR 10 to SAR 1, while keeping the company’s capital unchanged.
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