Cairo – Mubasher: Naeem Holding said it submitted a disclosure report to the Egyptian Exchange (EGX) regarding its intention to reduce its capital from $ 283,889 million to $ 198.77 million.

Following the capital reduction, the company’s par value per share will be $1 instead of $0.7.

The amount of $85.16 million that will result from the capital reduction would be directed towards enhancing the company’s reserves.