The extraordinary general meeting of Alexandria Flour Mills & Bakeries endorsed on Monday reducing the stock par value with the aim of complying with listing regulations and rules.
The company’s board has recently approved the par value reduction to EGP 5 from EGP 10; thus raising total shares to 8 million from 4 million.
The company is capitalized at EGP 40 million, divided into 4 million shares at EGP 10 par value each.