Cairo – Mubasher: The board of Porto Group Holding has approved adjusting the nominal value of the stock by raising six shares of the capital stocks to become one share.
The board has agreed to amend the stock's nominal value to make issued capital of EGP 601.8 million distributed over 1.003 billion shares at a par value of 60 piasters per share, the company said in a filing to the Egyptian Exchange (EGX) on Tuesday.
The board also approved to raise issued capital to EGP 1.14 billion from EP 601.8 million through issuing 896.9 million shares to be subscribed by old shareholders in the stock’s nominal value.
Furthermore, the board endorsed an increase in authorised capital of EGP 3 billion, up from EGP 1.5 billion.
