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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