ArabFinance: The Arab Ceramic Company (Ceramica Remas) (CERA) will split the par value of its share to EGP 0.10 from EGP 1 per share, according to EGX’s statement filed to the Egyptian Exchange.
The board of directors approved the stock split and mandated the chairman and the company’s managing director to take all legal measures to increase the capital.
Earlier, the company announced capital increase by EGP 300 million.
The net profit of Ceramica Remas hiked to EGP 30.52 million in 2020, compared to EGP 18.63 million in 2019.
Ceramica Remas is an Egypt-based public shareholding company engaged in the construction supplies industry sector. The company is primarily involved in the production and distribution of sanitary ware sets and ceramic tiles.