Saudi Chemical board plans 10-for-1 stock split

23/05/2023 Argaam
Logo of Saudi Chemical Co. Holding (SCCH)

Logo of Saudi Chemical Co. Holding (SCCH)

Saudi Chemical Co. Holding (SCCH) board of directors recommended, in a meeting held today, May 23, reducing the stock par value from SAR 10 to SAR 1 per share, while keeping capital unchanged, according to a Tadawul statement.

 

Thus, the number of Saudi Chemical's shares will increase to 843.2 million, instead of 84.32 million shares. 

 

The company said it is committed to completing the necessary related procedures and receive the approval of the extraordinary general assembly. 

 

It noted that any related developments will be announced in due course.

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