Saudi Top shareholders approve par value reduction to SAR 1
- Date: 09-Oct-2023
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi Top shareholders approve par value reduction to SAR 1
Nomu-listed Saudi Top for Trading Co.’s shareholders approved the board recommendation to reduce the stock nominal value from SAR 10 to SAR 1 a share, while maintaining the company’s capital intact.
The decision came during the extraordinary general meeting (EGM) held on Oct. 8, according to a statement to the Saudi Exchange (Tadawul).
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.
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