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Cairo Oils to split stock to EGP 0.50

Cairo Oils to split stock to EGP 0.50

ArabFinanceCairo Oils and Soap (COSG) will split the par value of its share to EGP 0.50 from EGP 5 with maintaining the issued capital unchanged, according to the company’s statement filed to the Egyptian Exchange.

The company’s issued capital which amounts to EGP 195 million will be distributed on 390 million shares instead of 39 million shares.

Cairo Oils stated that the shareholder recorded on March 1st will be entitled to the stock split.

The listed company reported a 42% Year on Year increase in its net loss in the first half of 2020, suffering EGP 36.09 million.

Cairo for Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export and distribution of different types of seeds for the production of oil and soap. The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap and detergent products under several brands. 

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