El Arabia for Land Reclamation
EALR
EALR
The Egyptian Financial Supervisory Authority (EFSA) announced approving the par value reduction of El Arabia for Land Reclamation Co. to EGP 5 from EGP 10.
Meanwhile, the company’s issued capital will stay at EGP 26 million, divided into 5.2 million shares instead of 2.6 million shares.
According to the market regulator’s statement, the company’s post-reduction shares will be added to database as of the start of trading tomorrow, Thursday, June 12. The stock’s last closing price will be divided by two to set the opening price.
The company had logged EGP 6.7 million net loss in the nine-month period till March 31, 2014, widening 3% year-over-year from EGP 6.6 million net loss in the same period a year earlier.
Meanwhile, the company’s issued capital will stay at EGP 26 million, divided into 5.2 million shares instead of 2.6 million shares.
According to the market regulator’s statement, the company’s post-reduction shares will be added to database as of the start of trading tomorrow, Thursday, June 12. The stock’s last closing price will be divided by two to set the opening price.
The company had logged EGP 6.7 million net loss in the nine-month period till March 31, 2014, widening 3% year-over-year from EGP 6.6 million net loss in the same period a year earlier.
Source:
Mubasher
