Saudi Azm shareholders to vote on 10-for-0.5 stock split on June 18

Logo of Saudi Azm for Communication and Information Technology Co.

Saudi Azm for Communication and Information Technology Co. shareholders will vote on reducing the stock par value from SAR 10 to SAR 0.5, while keeping capital unchanged, during the extraordinary general meeting (EGM), scheduled for June 18, according to a statement to Tadawul. 

Thus, the number of the company's shares will increase from three million shares to 60 million.

The stock split will be effective for shareholders registered with the Securities Depository Center Co. (Edaa) by the end of trading on the second day following the EGM date.