ArabFinance: Barbary Investment Group's (BIG) (BIGP) board of directors approved to increase the issued and paid-up capital from EGP 30,164,074 to EGP 60,328,148 to finance its future expansion, according to a May 13th statement filed to the Egyptian Exchange.

The company's board also gave a nod to a 5-for-1 stock split.

The board approved to increase authorized capital from EGP 100 million to EGP 600 million. 

Last December, BIG’s extraordinary general meeting approved stocks split, cutting the par value per share from EGP 1 to EGP 0.20.

BIG is an Egypt-based holding company, which provides automotive auto parts, products of the original equipment manufacturer, and aftermarket spare parts.

The company’s diversified portfolio includes establishing one-stop shops for automotive parts, strategic acquisitions of automotive brands, automotive dealerships, and manufacturing and assembly of related automotive factories.