‎Fitaihi shareholders approve 10-for-1 stock split

‎Fitaihi shareholders approve 10-for-1 stock split

Fitaihi Holding Group’s shareholders approved reducing the stock's par value from SAR 10 to SAR 1 during the extraordinary general meeting (EGM) held on Aug. 8.

In a statement to Tadawul, the company said the decision will be applicable to all shareholders on the day of the EGM and those registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM, during which the stock split is approved.

The stock split will apply to the share price as of the business day following the EGM, and the number of shares will be adjusted in shareholder portfolios on the second trading day following the EGM date.

In a separate statement, Tadawul announced that the stock’s fluctuation limits will be based on a share price of SAR 3.71 for today, Aug. 9. Accordingly, the outstanding orders will be canceled.

Edaa will deposit the split shares into the investors’ portfolios by Aug. 13, the statement added.