ArabFinance: Cairo Oils and Soap’s extraordinary general meeting (EGM) approved, on November 21st, a 1:10 stock split, according to the company’s November 22nd statement filed to the Egyptian Exchange.

The company will split the stock’s par value from EGP 5 to EGP 0.5 per each.  

The EGM also approved amending articles no. 6 and 7 of the company’s article of association.

The company reported a net loss of EGP 36,090,179 in the first half (H1) of 2020, a 42% increase from EGP 25,344,821 achieved in H1 2019.

Cairo for Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export and distribution of different types of seeds for the production of oil and soap.