Banan board plans 10-for-1 stock split

Logo of Banan Real Estate Co.

Banan Real Estate Co.’s board of directors recommended during its meeting, on May 10, splitting the stock's par value from SAR 10 to SAR 1.

 

In a statement to Tadawul, the Nomu-listed company pointed out that the number of shares, following the proposed stock split, will increase from 20 million to 200 million.

 

The company’s capital will remain unchanged, the statement added.

 

Stock Split Details

Current Capital

SAR 200 mln

Number of Shares

20 mln

Par Value

SAR 10/share

New Capital

SAR 200 mln

New Number of Shares

200 mln

Par Value After Stock Split

SAR 1/share
 

The company affirmed its commitment to complete the necessary related procedures, noting that the proposal is subject to the approval of shareholders and competent authorities.

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