Riyadh — Mubasher: The board members of Dar Almarkabah for Renting Cars Company (DS Rent) recently recommended a reverse stock split that consolidates the company’s shares, according to a bourse filing.
Under the board plan proposed on 28 September 2026, the company will carry out the decision by increasing the nominal value from SAR 0.50 to SAR 10 per share.
Therefore, shareholders will receive one new share for every 20 shares currently held.
This adjustment will reduce the total number of outstanding shares from 50 million to 2.50 million.
DS Rent confirmed that its total capital will remain unchanged at SAR 25 million.
The move follows a notification received on 16 August 2026 regarding the company’s average closing price falling below SAR 1 for 15 consecutive trading days ending 13 August 2026.
The reverse split aims to ensure compliance with Article 33 of the Listing Rules by achieving a minimum share price of SAR 3.
Meanwhile, fractional shares resulting from the consolidation will be collected and sold, with net proceeds distributed to eligible shareholders.
The recommendation is yet subject to approval from the extraordinary general assembly and relevant regulatory authorities.
