The securities listing committee of the Egyptian Exchange (EGX) decided on Tuesday to list shares of increasing the issued capital of Amer Group Holding by EGP 820.718 million from EGP 547.145 million to EGP 1.4 billion through amending the stock par value from EGP 0.12 to EGP 0.30.
Meanwhile, the total number of shares will stay unchanged at 4.6 billion.
The stock market decided to list the shares with the new par value as of the start of trading on Thursday, September 11.
The company’s extraordinary general meeting had approved on Thursday, July 24, 2014 ratifying a capital increase to EGP 1.367 billion, which will be financed from the company’s reserves as shown on FY13 financial statements.
Shareholders also nodded to adjusting the stock par value to EGP 0.30.
Articles of incorporation No. 6 and 7 were amended accordingly.
Amer operates with EGP 364.76 million, divided into 3.039 billion shares at EGP 0.12 par value each.