ArabFinance: Misr Hotels (MHOT) decided to split the par value of its stock from EGP 15 to EGP 5 per stock, without changing the issued capital that amounts to EGP 198 million.
The issued capital will be distributed on 39.6 million stocks instead of 13.2 million stocks at par value of EGP 5/stock, according to the Extraordinary General Assembly's (EGM) resolution.
The shareholders by the end of Oct. 23 trading session, are eligible to trade their stocks, starting Thursday, Oct. 24, according to the par value after splitting. Noting, the split of par value is subject to the approval of EGX's listing committee.
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