Fitaihi shareholders to vote on 10:1 stock split on Aug. 8

Logo of Fitaihi Holding Group

Fitaihi Holding Group’s shareholders are set to vote on a board recommendation to reduce the stock's nominal value from SAR 10 to SAR 1, during the extraordinary general meeting (EGM) that will be held on Aug. 8.

 

Stock Split Details

Current Capital

SAR 275 mln

Number of Shares

27.5 mln

Share Nominal Value

SAR 10

New Capital

SAR 275 mln

New Number of Shares

275 mln

Nominal Value After Stock Split

SAR 1
 

The company said that the decision, if approved, will be effective for shareholders owning shares on the EGM date and registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following EGM date.

 

The effect of the decision will be applied to the stock price starting from the business day following the EGM, provided that the decision will be implemented in relation to the number of shares in shareholders’ portfolios on the second trading day following the EGM date.

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