Riyadh – Mubasher:  Watani Iron Steel Company announced Abdul Karim Mohammed Al Rajhi as the Chairman of the board for the coming three years, according to a bourse filing.

Mishaal Abdul Karim Al Rajhi and Youssef Muhammad Al Tarif were appointed as the Vice Chairman and Managing Director, respectively.

The official assumed their new roles for a board term that started on 2 July 2023 and will remain in position until 1 July 2026.

Split Value Stock

The board members of Watani Iron Steel recommended, on 3 July, to split the share’s nominal value to SAR 0.10 from SAR 10 per share.

Accordingly, the number of shares will stand at 1.81 billion instead of 18.16 million shares.

The listed company highlighted that it will unveil any further developments in due course.

Last October, Watani Iron Steel obtained a loan valued at SAR 25 million from Alinma Bank to finance its working capital.