Arabian Pipes shareholders to vote on stock split on Jan. 8

08:56 AM (Mecca time) Argaam
Logo ofArabian Pipes Co.(APC)

Logo of Arabian Pipes Co. (APC) 

Arabian Pipes Co. (APC) shareholders will vote on reducing the stock nominal value from SAR 10 to SAR 1 in an extraordinary general meeting (EGM) on Jan. 8, 2025, according to a statement to Tadawul.
 

Stock Split Details

Current Capital

SAR 150 mln

Current Number of Shares

15 mln

Nominal Value

SAR 10

New Capital

SAR 150 mln

Number of Shares

150 mln

Nominal Value

SAR 1
 
 

The company confirmed that there will be no change in its capital before or after the stock split process.

 

It also indicated that, if the proposal is approved, the stock split decision will apply to shareholders of record on the EGM day and those registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the general meeting date.

 

The decision will take effect on the share price starting from the next business day following the general meeting. The adjustment to the number of shares in shareholders’ portfolios will be applied on the second trading day after the EGM.

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