Retal board proposes stock split from SAR 10 to SAR 1

20/03/2023 Argaam

Retal board proposes stock split from SAR 10 to SAR 1

Logo of Retal Urban Development Co. 

The board of Retal Urban Development Co. recommended on March 19 a stock split from SAR 10 to SAR 1, according to a statement to Tadawul.

 

Accordingly, the total number of shares will increase to 400 million from 40 million shares.

 

The recommendation will be put before the upcoming extraordinary general meeting.
 

Stock Split Details

Current Capital

SAR 400 mln

Number of Shares

40 mln

Par Value

SAR 10

Share Capital

SAR 400 mln

New Number of Shares

400 mln

Par Value after Stock Split

SAR 1 per share
 

Retal is the third company to recommend a stock split, since the Companies Law came into force, according to data compiled by Argaam.

 

Retal follows similar recommendations from National Environment Recycling Co. (Tadweeer)  and Jarir Marketing Co.

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