Ghida Al-Sultan board scraps stock split plan

Logo of Ghida Al-Sultan Co.

Ghida Al-Sultan Co.’s board of directors canceled today, Dec. 11, its previous decision to reduce the stock's par value from SAR 10 to SAR 0.50 and continue with the current stock par value, according to a statement to Tadawul. 

 This came due to the infeasibility of the stock split at present, the statement added. 

The company's board of directors recommended, on Oct. 12, to reduce the stock’s nominal value from SAR 10 to SAR 0.50, according to Argaam's data.