The securities listing committee of the Egyptian Exchange (EGX) decided to reduce the par value of Gharbia Islamic Housing Development (GIHD) stock today, Thursday, December 11, 2014.

The company announced earlier, on EGX website, that the listing committee had approved a stock par value reduction from EGP 10 to EGP 4, while keeping the company’s issued capital unchanged at EGP 22.5 million (6.6.25 million shares) at EGP 4 par value each.

The company had posted EGP 889 thousand profit for the first nine months of FY14.

Photo Credit: Arabianeye-Reuters