EGX approves listing capital cut of Cairo Oils
Updated 12/22/2021 2:31:51 PM
ArabFinance: The Egyptian Exchange’s (EGX) Listing Committee has approved to list the decrease in Cairo Oils and Soap’s (COSG) authorized and issued and paid-up capitals, the EGX said in a statement.
The company’s authorized capital is set to fall to EGP 195 million from EGP 195 million.
Meanwhile, the issued and paid-up capital shall be cut by EGP 156 million to EGP 39 million from EGP 195 million.
The nominal value of the stock will be reduced to EGP 0.10 from EGP 0.50, with the number of issued shares unchanged at 360 million shares.
Once the capital decrease process is completed, the company’s shares will be listed on the EGX’s database starting from Tuesday, December 28th, 2021.
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.
The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap, and detergent products under several brands.
