Egypt's Marseilia announces stock split

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The issued capital will remain $5.48mln, yet it will be distributed over 207.64mln shares instead of 103.82mln shares

Staff Writer, Mubasher

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Cairo - Marseilia Almasreia Alkhalegeya Real Estate Investment will split the share’s nominal value to EGP 0.50 from EGP 1, according to a bourse filing.

The issued capital will remain EGP 103.82 million, yet it will be distributed over 207.64 million shares instead of 103.82 million shares.

Meanwhile, splitting the shares will take place at the beginning of Wednesday’s trading session, 1 February 2023.

It is worth noting that the company’s shareholders granted their approval for the division process during the extraordinary general meeting (EGM) that was held on 4 December 2022.

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