Electro Cable Egypt splits shares
Updated 2/4/2021 12:31:12 PM
ArabFinance: Electro Cable Egypt’s (ELEC) extraordinary general meeting approved splitting the nominal value of shares to EGP 0.20 per share from EGP 1 per share, according to the company’s February 4th statement filed to the Egyptian Exchange.
Accordingly, the company’s shares reached 3.557 billion instead of 721.447 million shares.
The company posted a 10% Year on Year decline in its consolidated net profit in the first nine months of 2020, recording EGP 104 million, compared to EGP 116 million in the same period of 2019.
Electro Cable is an Egypt-based public shareholding company that operates in the electric components manufacturing sector. The company manufactures and distributes power and telecommunication cables and wires in Egypt and abroad. Its product portfolio includes low, medium, and high-tension power cables, isolated cables, and telephone communication cables.
