Dubai: Shares of Abu Dhabi National Hotels will be split in the ratio one to 10, it was announced on Tuesday.
After the split, the nominal value of a share will be 10 fils instead of Dh1, and the number of company shares will become 12 billion instead of 1.2 billion.
This decision by the board of directors will come into effect after approval from the Securities and Commodities Authority, the company said.
ADNH Group reported consolidated revenue of Dh809 million for the period ended June 2023, compared to Dh722 million in the same period last year. Net profit stood at Dh239 million, compared to Dh263 million in the year-ago period.