View shareholders approve stock split to SAR 1/share

Logo of View United Real Estate Development Co. (VIEW)

Shareholders of View United Real Estate Development Co. (VIEW) approved the board’s recommendation to reduce the stock’s nominal value from SAR 10 to SAR 1.

The approval took place during the company’s extraordinary general meeting (EGM), held on Dec. 17, according to a statement to Tadawul.

View confirmed that there will be no change in the company’s capital before or after the stock split process.

It also indicated that the stock split decision will apply to all shareholders of record on the EGM day and those registered with the Saudi Securities Depository Center (Edaa) by the close of trading on the second day following the general meeting.

The decision will take effect on the share price starting from the next business day following the general meeting. The adjustment to the number of shares in shareholders’ portfolios will be applied on the second trading day after the EGM.

The Saudi Exchange (Tadawul) said that the fluctuation limit for View’s stock will be calculated based on a price of SAR 7.60 today, Dec. 18, and that existing orders will be canceled.

Additionally, Edaa will add the split shares to shareholders' portfolios before the start of trading on Dec. 22.