Edaa implements stock split on Riyadh Steel

Logo of Riyadh Steel Co.

The Securities Depository Center Co. (Edaa) implemented today, Sept. 29, stock split measures resulting from adjusting the nominal value of Riyadh Steel Co.’s shares to the accounts of eligible shareholders.

According to data available on Argaam, Riyadh Steel’s shareholders approved on Sept. 24 during an extraordinary general meeting (EGM) the board of directors' proposal for reducing the stock's nominal value from SAR 10 to SAR 1 per share, with no change in the company’s capital before and after the stock split.

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