Abo Moati board proposes 10-for-1 stock split

27/07/2023 Argaam
Logo ofAbdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati)

Logo of Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati)

Abdullah Saad Mohammed Abo Moati for Bookstores Co.’s (Abo Moati) board of directors recommended, on July 26, reducing the stock's par value from SAR 10 to SAR 1, while the company’s capital will remain unchanged, the retailer said in a statement to Tadawul.

 

Stock Split Details

Current Capital

SAR 200 mln

Number of Shares

20 mln

Share Par Value

SAR 10

New Capital

SAR 200 mln

New Number of Shares

200 mln

Par Value After Stock Split

SAR 1/share
 

Abo Moati confirmed its commitment to complete the necessary related procedures, the statement added, noting that any related developments will be announced in due course. 

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