Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved a 10-for-one stock split request by Nile City Investments. 

The share's nominal value will be reduced to EGP 10 from EGP 100, bringing the total number of shares to 72.50 million from 7.250 million, the FRA said in a statement to the Egyptian Exchange (EGX) on Tuesday. 

In the first quarter (Q1) of 2021, Nile City Investments reported consolidated net profits of EGP 47.19 million, down from EGP 122.73 million in Q1-20, including minority shareholders' rights.