Sohag National
SNFI
SNFI
Cairo- Ahmed Allam
Mamdouh Fouad, chairman of Sohag National Co. for Food Industries, told Mubasher in a phone call that his company plans to submit a request to the Egyptian bourse to reduce stock par value.
Fouad added that the company targets reducing the par value from EGP 10 to EGP 2 per share, to offset losses of nearly EGP 15 million.
He indicated that the food producer plans to increase capital by EGP 108 million.
Offsetting the losses of previous years is the first requirement of relisting, the chairman said. Translated by Abdul Maguid Aboshahla
Mamdouh Fouad, chairman of Sohag National Co. for Food Industries, told Mubasher in a phone call that his company plans to submit a request to the Egyptian bourse to reduce stock par value.
Fouad added that the company targets reducing the par value from EGP 10 to EGP 2 per share, to offset losses of nearly EGP 15 million.
He indicated that the food producer plans to increase capital by EGP 108 million.
Offsetting the losses of previous years is the first requirement of relisting, the chairman said. Translated by Abdul Maguid Aboshahla
Source:
Mubasher Exclusive
