Naeem Holding obtains FRA's go-ahead to cut capital
Updated 3/15/2021 2:53:00 PM
ArabFinance: Naeem Holding for Investment (NAHO) obtained the approval of the Financial Regulatory Authority (FRA) to decrease its issued and paid-in capital, according to the company’s statement to the Egyptian Exchange on March 15th.
Earlier, the company’s board of directors approved cutting the issued and paid-in capital via writing off the treasury shares worth included in the company’s financial statements for 2020.
Accordingly, the company’s issued and paid-in capital will be $245.29 million (EGP 3.864 billion) divided into 350.414 million shares.
Naeem’s consolidated net loss reached $349,600 (EGP 5.49 million) in 2020, down 94.3% from $6.13 million (EGP 96.36 million) in 2019.
Established in 1997, the public shareholding company is engaged in the provision of investment banking services within Egypt and abroad.
