Cairo - Mubasher: Egypt Kuwait Holding (EKH) has completed procedures to allow the conversion of the trading currency of its shares on the Egyptian Exchange (EGX) to the Egyptian pound from the US dollar. 

This step will encourage investments in the company's shares and expand its investor base which currently amounts to more than 11,000 investors, the company said in a statement on Tuesday. 

Shareholders can submit applications to switch their currency from 15 June until 14 September. Dividends will still be distributed in dollars.

This option is not available for the company's shares on Boursa Kuwait. 

Earlier, the company revealed plans to invest $300 million in 2021 and 2022 to acquire minority interests in subsidiaries and establish new entities. 

During the first quarter (Q1) of 2021, EKH posted consolidated net profits of $53.01 million, up from $40.72 million in Q1-20, including minority shareholders’ rights.