Egypt EGX approves Odin Investments’ capital reduction on stock split

Odin Investments’ shares will remain 104 million ordinary shares at a par value of EGP 0.98 per share

  
Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

REUTERS/Amr Abdallah Dalsh
Cairo –  The Egyptian Exchange’s (EGX) Listing Committee gave its green light for reducing Odin Investments’ capital to EGP 101.92 million from EGP 260 million.

The capital decrease comes in line with splitting the par-value stock to EGP 0.98 per share instead of EGP 2.5, according to a bourse filing on Wednesday.

Odin Investments’ shares will remain 104 million ordinary shares at a par value of EGP 0.98 per share.

Last month, the company requested the EGX to temporarily suspend trading on its shares from 25 November and until the Listing Committee approves the capital reduction process and its listing on the EGX.

Source: Mubasher

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