Watani Steel board proposes reducing stock par value to SAR 0.10

04/07/2023 Argaam
Logo ofWatani Iron Steel Co.

Logo of Watani Iron Steel Co.

Watani Iron Steel Co.’s board of directors recommended, on July 3, the reduction of the stock par value from SAR 10 to SAR 0.10 a share, according to a statement to Tadawul.

 

The company capital will remain unchanged, and the number of shares will increase to 1.82 billion from 18.17 million, in line with the regulatory measures.

 

Any relevant updates will be revealed in due course, the statement added.

 

Stock Split Details

Current Capital

SAR 181.65 mln

No. of Shares

18.17 mln

Stock Nominal Value

SAR 10  a share

New Capital

SAR 181.65 mln

No. of Shares

1.816 bln

Stock Nominal Value

SAR 0.10 a share
 

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