Egypt's Lift Slab Misr to split stock's par value

Egypt - The Egyptian for Developing Building Materials (Lift Slab Misr) (EDBM) will split the stock’s par value to EGP 0.25 from EGP 1.24 on March 11^th, according to the company’s statement filed to the Egyptian Exchange.

The listed company’s issued capital will be unchanged at EGP 140.31 million, distributed over 561,255,744 shares instead of 113,156,400 shares.

The company posted a net profit of EGP 4,747,200 in January-September 2020, compared to EGP 894,861 achieved in the prior-year period.

Lift Slab is engaged in the construction and development of industrial buildings and facilities. The company implements hydraulic driving force technology in constructing roofs, tunnels, pipes, bridges, and other engineering constructions.