Logo of Naqi Water Co.
Naqi Water Co. shareholders will vote on reducing the stock’s par value from SAR 10 to SAR 0.1 without changing the company’s capital during the extraordinary general meeting (EGM), scheduled for Oct. 18, according to a Tadawul statement.
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
2000 mln
Par Value After Stock Split
SAR 0.1
The company said that the decision, if approved, will be effective for shareholders who own shares on the EGM date and are registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM date.
The effect of the decision will be applied to the share price starting from the business day following the EGM, provided that the decision will be implemented in relation to the number of shares in shareholders’ portfolios on the second trading day following the EGM date.
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