ArabFinance: Medical Packaging Company (MEPA) decided to split the stock's par value from EGP 1 to EGP 0.20 per share, according to the company's statement filed to the Egyptian Exchange.
This comes in a bid to enlarge the company's stock ownership base, the filing added.
The issued capital will remain unchanged at EGP 69 million distributed over 345 million shares instead of 69 million shares, it noted.
The company posted a net profit of EGP 1,632,045 in Q1 2020, a 128% rise from EGP 714,951 achieved in Q1 2019.
Medical Packaging is an Egypt-based public shareholding company engaged in the manufacturing of medical and pharmaceutical packaging products. It focuses on the operations and establishment of a factory for the production of glass containers for the purpose of medical, pharmacy, laboratories, cosmetics, and perfumes.
