Logo of Retal Urban Development Co.
The board of Retal Urban Development Co. recommended on March 19 a stock split from SAR 10 to SAR 1, according to a statement to Tadawul.
Accordingly, the total number of shares will increase to 400 million from 40 million shares.
The recommendation will be put before the upcoming extraordinary general meeting.
Stock Split Details |
|
Current Capital |
SAR 400 mln |
Number of Shares |
40 mln |
Par Value |
SAR 10 |
Share Capital |
SAR 400 mln |
New Number of Shares |
400 mln |
Par Value after Stock Split |
SAR 1 per share |
Retal is the third company to recommend a stock split, since the Companies Law came into force, according to data compiled by Argaam.
Retal follows similar recommendations from National Environment Recycling Co. (Tadweeer) and Jarir Marketing Co.
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