ArabFinance: The board of directors of First Investment Company and Real Estate Development (FIRE) has agreed on splitting the nominal value of the company’s stock to EGP 0.5, instead of EGP 1, according to a filing to the Egyptian Exchange (EGX) on Monday.
Accordingly, the number of First Investment’s total shares will be increased to 13.75 million from 6.875 million.
The splitting of the company’s stock is aimed at attracting new shareholders and boosting liquidity.
Established in 2008, First Investment Company operates within the real estate sector focusing on diversified real estate activities.