EGX okays list Arab Engineering Industries' stock split
Updated 9/16/2020 1:26:00 PM
ArabFinance: The Egyptian Exchange's (EGX) concerned committee approved listing the splitting the par value of Arab Engineering Industries' (EEII) (AEI) share from EGP 3.75 to EGP 0.375 per each, according to the EGX disclosure.
The company will maintain the issued and paid-up capital unchanged at EGP 62,469,750, the statement added.
After splitting, AEI's capital will be distributed on 166,586,000 shares which will be listed on the EGX's database on September 22nd.
The opening price after the split will be calculated through dividing the last closing price by 10, EGX added.
AEI reported a net profit stood at EGP 2,882,236 in the first half (H1) of 2020, a 36% decline from EGP 4,498,456 achieved in H1 2019.
Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.
