Arab Company provides commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management.
Arab for Asset Management approves stock split
Updated 1/10/2021 1:27:00 PM
ArabFinance: Arab Company for Asset Management and Development gave the green light for splitting the stock value to EGP 0.1 instead of EGP 0.5, according to a January 10th disclosure.
During their extraordinary general meeting, the company’s shareholders approved the authorized capital to be EGP 600 million instead of EGP 1 billion.
The issued capital currently stands at EGP 132.4 million distributed on 1.32 billion shares instead of the previous 264.81 million.
The listed firm announced in October 2020 that it would consider a stock split.
