The board of Alexandria Flour Mills & Bakeries gave a nod to reducing the stock par value to EGP 5 from EGP 10.
Accordingly, the company’s total shares will amount to 8 million instead of 4 million.
The company is currently capitalized at EGP 40 million, divided into 4 million shares at EGP 10 par value each.
FY13/14 financial results mirrored EGP 42.7 million net profit, representing a surge by 119% from EGP 19.5 million a year earlier.