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EGX to list Cairo Oils after stock split in March

EGX to list Cairo Oils after stock split in March

ArabFinance: The Egyptian Exchange’s (EGX) listing committee held on February 24th approved listing the issued capital of Cairo Oils and Soap (COSG) after splitting the par value of its shares, according to a disclosure by the EGX.

The company split the par value of its stock to EGP 0.50 per share instead of EGP 5 per share, maintaining the issued capital unchanged.

Cairo Oils’ issued capital of EGP 195 million will be distributed on 390 million shares.

The company’s shares will be listed on Tuesday, March 2nd.

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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