ArabFinance: Mena for Touristic and Real Estate Investment approved on December 29th a 2:1 stock split, according to a statement filed to the Egyptian Exchange.

During an extraordinary general meeting, the company's shareholders gave the go-ahead to split the stock's par value from EGP 2 to EGP 1.

The move will result in increasing the company's shares from 75 million to 150 million.

Mena incurred a consolidated net loss of EGP 16,248,895 in the first nine months of 2020.

The listed firm previously refuted discussions with FAM Holding over a stake purchase in the former.

Mena, established in 1980, operates in the fields of construction, real estate investment, project management, and urban development both locally and internationally.