Cairo – Mubasher: The extraordinary general meeting (EGM) of Electro Cable Co approved a one-to-five stock split, making the nominal value of the share stand at EGP 0.20 instead of EGP 1.

The company’s capital now amounts to EGP 711.44 million, distributed over 3.55 billion shares instead of 711.44 million, according to a bourse disclosure on Thursday.

The EGP 165.18 million capital increase has been paid in total in cash by subscribers.

During the first nine months of 2020, the company reported net profits of EGP 104.38 million, down from EGP 116.18 million in the year-ago period, including minority shareholders’ rights.