Arabian Pipe Company Approves Share Split, Boosting Stock Performance

The Arabian Pipe Company's extraordinary general assembly, held on January 8, 2025, approved the board's recommendation to split the company’s shares, according to a statement on the Saudi Stock Exchange (Tadawul) website.

The company clarified that the nominal value of each share will decrease from 10 riyals to 1 riyal post-split, increasing the total number of shares from 15 million to 150 million, while maintaining the same capital. The split will apply to shareholders holding shares on the assembly day, registered with the Securities Depository Center (Edaa) by the close of the second trading day after the assembly. The share price adjustment will take effect from the first trading day after the assembly.

Additionally, the assembly approved amending Article (7) of the company’s bylaws concerning capital.

Following the announcement, Arabian Pipe Company shares (TADAWUL: 2200) rose by 3.28%, gaining 0.40 riyals to trade at 12.60 riyals during today's Saudi stock exchange session, reflecting positive market sentiment towards the decision.

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