Alwasail Industrial shareholders approve 10:1 stock split

Logo of Alwasail Industrial Co.

Alwasail Industrial Co. holders approved reducing the stock's par value from SAR 10 to SAR 1 without changing the company’s capital during the extraordinary general meeting (EGM), held on Nov. 15.

 

Stock Split Details

Current Capital

SAR 250 mln

Current Number of Shares

25 mln

Share Par Value

SAR 10

New Capital

SAR 250 mln

New Number of Shares

250 mln

Par Value After Stock Split

SAR 1
 

The decision is effective for shareholders who own shares on the EGM date and are registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM date, the company said in a statement to Tadawul.

 

The shareholders also approved all the other items during the EGM.

 

Tadawul announced the fluctuation ratio of Alwasail Industrial's stock is calculated based on a share price of SAR 1.94 as of today, Nov. 16.

 

Accordingly, the outstanding orders will be canceled.

 

Edaa will add the split shares to shareholders' portfolios before the start of trading on Nov. 20, 2023.

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