Depa delays stock split on bourse shift

Depa, a Dubai-based interiors contractor, delayed splitting its stock and redenominating it to UAE dirham from the US dollar pending the migration of Nasdaq Dubai processing platform to the Dubai Financial Market.

Depa said its shareholders on March 15 approved a stock split, resulting in the issuance of one share for each held. The record date for the stock split was to be March 30. The new record date will be announced pending the bourse platform migration, Depa said. Depa stock advanced 1.43 per cent to $0.710 on Nasdaq Dubai yesterday.