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Egyptians for Housing's shareholders approve stock split

Egyptians for Housing's shareholders approve stock split
The share’s nominal value will stand at EGP 0.25
Egyptians for Housing
EHDR
6.78% 1.26 0.08

Cairo – Mubasher: The extraordinary general meeting (EGM) of Egyptians for Housing and Development Co approved a stock-split in the ratio of eight for one.

The share’s nominal value will stand at EGP 0.25 instead of EGP 2, according to a bourse disclosure on Tuesday.

Accordingly, the number of shares is increased to 960 million from 120 million.

The company’s authorised capital amounts to EGP 500 million, while its issued capital stands at EGP 240 million.

During the first half (H1) of 2020, the company achieved net profits of EGP 7.009 million, down from EGP 21.7 million in H1-19, including minority shareholders’ rights.