Doha, Qatar: Qatar Islamic Bank (QIB) has announced that based on the decision of Qatar Financial Market Authority (QFMA) to split the stock of companies and legal entities listed on Qatar Stock Exchange (QSE) so that the nominal value all listed companies’ shares with a whose nominal value is QAR 10 per share will become QAR1 per share instead of QAR 10 per share and the number of shares will be increased to 10 times the existing number of shares. QIB stock split will be executed at the end of the trading session on Thursday 13 June 2019. Thus, starting from Sunday 16 June 2019 onwards QIB shares will be traded based on the new adjusted position.
The split will have no effect on investor's equity or QIB market capitalization.
As per QFMA's instructions, the nominal value of the share will be reduced from QAR10 per share to QAR1 per share, which would increase QIB's total number of shares from 236.293.200 to 2.362.932.000. The paid up capital, however, will not change and will remain at QAR 2.362.932.000 two billion three hundred and sixty-two million nine hundred and thirty-two thousand Qatari Riyals divided into (2.362.932.000) two billion three hundred and sixty two million nine hundred and thirty-two thousand shares; that is, each share will have a value of one Qatari Riyal.
As for QIB shareholders, they don't need to do anything: The numbers of shares they hold will automatically be adjusted on Sunday 16 June 2019.
© Press Release 2019