JEDDAH, 1 April 2006 — The management of the Saudi stock market (Tadawul) announced on Thursday that it had completed the splitting of all the companies in the insurance, services and agriculture sectors. The new stocks of companies in these three sectors are ready for trading starting from today. The Tadawul management said that it had done the splitting in 24 hours and it suspended trading on Thursday for this purpose. The Tadawul management said that it had split shares in over one million investment portfolios in all Saudi banks. The completion of the splitting of companies’ stocks in the insurance, services and agriculture sectors was part of the Saudi Capital Market Authority (CMA) devised plan to split all the shares in the Saudi market according to orders of Custodian of the Two Holy Mosques King Abdullah.
