ArabFinance: North Upper Egypt for Development and Agricultural Production Company (NUDAP) (NEDA) decided to split its shares' par value to be EGP 1 instead of EGP 10, according to a June 1st disclosure filed to the Egyptian Exchange.
The company will maintain the issued and paid-up capital unchanged, the statement added.
On February 16th, the company's extraordinary general assembly approved to distribute the issued capital over 63,496,550 shares instead of 6,349,655 shares with a par value of EGP 1.
The company said the shareholders recorded on June 1st are entitled to trade their shares as of June 2nd.
In 2019, the company posted a consolidated net profit of EGP 3,138,334, versus a loss of EGP 8,809,250 a year ago, taking into account the minority rights.
NUDAP is an Egypt-based public shareholding company that operates in the agricultural sector. The company is primarily engaged in producing and trading agricultural chemicals such as fertilizers, insecticides, and pesticides.
