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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