Zoujaj board proposes reducing nominal value to SAR 1 from SAR 10

10/05/2023 Argaam
Logo ofThe National Company for Glass Industries’ (Zoujaj)

Logo of The National Company for Glass Industries’ (Zoujaj)

The National Company for Glass Industries’ (Zoujaj) board of directors recommended today, May 10, reducing the stock's nominal value from SAR 10 to SAR 1.

 

Accordingly, the total number of shares will increase from 32.9 million to 329 million, the glass manufacturer said in a statement to Tadawul.

 

The necessary paperwork will be finalized by obtaining the regulatory approvals and shareholders’ nod. The company’s capital will remain unchanged.

 

Any relevant updates will be duly announced, the statement added.

 

Stock Split Details

Current Capital

SAR 329 mln

Number of Shares

32.9 mln

Par Value

SAR 10/share

New Capital

SAR 329 mln

New Number of Shares

329 mln

Par Value After Stock Split

SAR 1/share
 

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