Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a stock split request by El Kahera Housing, according to a statement to the Egyptian Exchange (EGX) on Sunday. 

The company's board of directors approved to split the share's nominal value to EGP 0.50 from EGP 5, bringing the total number of shares to 900.28 million from 90.03 million. 

During the first half (H1) of 2021, El Kahera Housing reported consolidated net profits of EGP 33 million, down from EGP 106.24 million in H1-20, including minority shareholders' rights. 

The revenues increased to EGP 827.66 million in the January-June period, compared to EGP 583.42 million in the prior-year period.