MANAMA, 11 November 2007 — Al-Salam Bank-Bahrain has decided to split its stocks, which will come into effect from Nov. 18.
The meeting yesterday approved the recommendation that each current share would be split into 10, that is from BD1 per share to 100 fils per share.
The move will increase the bank’s shares from 120 million to 1.2 billion.
“In order to implement the EGM’s decision, the Bahrain Stock Exchange has been requested to proceed with the stock split as of Nov.18, 2007,” said Al-Salam Bank-Bahrain Chairman Mohammed Ali Alabbar.