The securities listing committee of the Egyptian Exchange (EGX) approved a request from Cairo Development & Investment to reduce the stock par value to EGP 2 from 5.
The company’s issued capital will remain unchanged at EGP 20 million, divided into 10 million shares (instead of 4 million shares) at EGP 2 par value each.
The company’s extraordinary general meeting approved on Thursday, July 3, reducing the stock par value to EGP 2 from EGP 5.