Cairo – Mubasher: Heliopolis Company for Housing and Development said its board of directors approved the company’s stock split.

According to the stock split, the company’s par value per share will be EGP 0.50 per share instead of EGP 1 per share.

Following the stock split, the company’s issued capital will be EGP 111.25 million distributed across 222.5 million shares at EGP 0.50 par value each.

The company stated that the stock split move is drove from its intention to widen its shareholders base as well as increases its shares liquidity.