ArabFinance: The board of directors of Marseilia Almasreia Alkhalegeya for Holding Investment (MAAL) has approved a proposal to split the nominal value of the company’s stock to be EGP 0.5 instead of EGP 1, according to a filing to the Egyptian Exchange (EGX) on Thursday.
The decision is pending the approval of the Financial Regulatory Authority (FRA).
It is worth noting that Marseilia’s consolidated net profit after tax amounted to EGP 26.23 million in the full-year ended December 31st 2021, compared to a profit of EGP 19.27 million in 2020.
Marseilia is an Egypt-based company engaged in real estate property investment, development, and management.