Cairo – Mubasher: The extraordinary general meeting (EGM) of Raya Holding for Financial Investments approved a 10-for-one stock split.

Accordingly, the number of the company’s shares will increase to 2.14 billion at a value of EGP 0.50 apiece, according to a bourse disclosure on Wednesday.

The decision is aimed at expanding the base of shareholders, boosting liquidity, attracting new investors, and improving the performance of the stock.

During the first nine months of 2020, Raya Holding for Financial Investments incurred net losses of EGP 53.69 million, down from EGP 58.16 million in the year-ago period.