The company had earlier set Tuesday, October 28, as the record date for determining eligible shareholders for the subdivision of its shares.
As per standard market practice, the ex-date falls one trading day before the record date, meaning the shares will begin trading ex-split on October 28. Therefore, to qualify for the stock split, shares must be purchased on or before today.
The share split was approved by shareholders at the company’s 61st annual general meeting, held on September 20.
According to an earlier stock exchange filing, KSE Ltd stated that the company’s shares will be split from a face value of Rs 10 each to a face value of Rs 1 each. This means that each existing equity share of Rs 10 will be subdivided into ten shares of Rs 1 each.
The purpose of this subdivision is to determine the rights of shareholders who are eligible to receive the split shares. All shareholders whose names appear in the register of members or in the administration of the custodians as beneficial owners on the record date, October 28, are entitled to receive the subdivided shares. Investors looking to benefit from the stock split should make sure to purchase shares of KSE Ltd. on or before market close today. buy.
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