ArabFinance: The Financial Regulatory Authority (FRA) has approved splitting the nominal value of the Arab Ceramic Company’s (Ceramica Remas) (CERA) stock to EGP 0.25 from EGP 1 per share, according to a statement to the Egyptian Exchange (EGX).

Accordingly, the number of the company’s shares will be 718.75 million, instead of 179.687 million shares, the statement added.

Ceramica Remas announced today that its board of directors has approved to split the nominal value of the company’s stock to EGP 0.25 from EGP 1 per share.

Ceramica Remas is an Egypt-based public shareholding company engaged in the construction supplies industry sector. The company is primarily involved in the production and distribution of sanitary ware sets and ceramic tiles.