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National Real Estate board Oks stock split to EGP 8

National Real Estate board Oks stock split to EGP 8
The board of National Real Estate Bank for Development approved reducing the stock’s par value to EGP 8 from EGP 10.
Board members pointed out that this action will be taken within the framework of the regulations identified by EGX, and an extraordinary general meeting will be held next month to look into the stock split.

The company, which owns 39 million shares, posted EGP 15.943 million net profit for FY13, compared with EGP 5.243 million net profit a year earlier.