The Egypt Financial Supervisory Authority has approved the publication of the report by Arab Developers Holding, which outlines the procedures for inviting the extraordinary general assembly to reduce the nominal value of the company’s shares from EGP 0.6 per share to EGP 0.1 per share, Invest-Gate reports.

This change will increase the number of shares from 1.287 bn to 7.723 bn shares. The decision was made after reviewing the justifications provided by the company, in accordance with Article 48 of the registration rules.

During its meeting on March 9, the Board of Directors of Arab Developers Holding agreed to adopt the disclosure report form as per Article 48 of the registration and deletion rules, concerning the division of the nominal value of the shares.

The purpose of this decision was to enhance liquidity by increasing the number of shares and reducing the share price for retail investors. This strategy aims to attract more traders and investors to buy the stock, whether for trading or holding, thereby stimulating market activity and increasing the volume of traded shares.

The approval of the division of the nominal value of Arab Developers Holding’s shares comes shortly after the company announced impressive business results for the year 2023. They achieved a record-high contract sales volume of EGP 5.3 bn, representing a remarkable growth rate of 203%, which is the highest among listed companies on the Egyptian Exchange (EGX).

Additionally, the company successfully transitioned to profitability, recording a net profit of EGP 100 mn and achieving a substantial growth rate of 649%.