Aqaseem shareholders to vote on 10:1 stock split on Dec. 15

Logo of Aqaseem Factory for Chemicals and Plastics Co.

Shareholders of Aqaseem Factory for Chemicals and Plastics Co. will vote on reducing the stock's nominal value from SAR 10 to SAR 1 per share, during the extraordinary general meeting (EGM) scheduled for Dec. 15.

Accordingly, the share capital would increase to 25 million from 2.5 million currently, the company said in a statement to Tadawul today, Nov. 24.

For more news on listed companies

If agreed, the stock split resolution will be effective for all shareholders of record, registered with the Securities Depository Center Co. (Edaa) by the close of trading on the second trading day following the EGM date.

The stock split impact will apply to the company’s stock price starting from the day following the EGM date. This is provided that the number of shares will be reflected in shareholders' portfolios at the end of the second trading day following the EGM date.