Cairo – Mubasher: The board of Arabia Investments, Development and Financial Investment Holding approved Monday decreasing its capital as well as demerging, according to a bourse filing.
The board agreed on reducing the licensed capital to EGP 4 billion from EGP 6 billion.
Moreover, the board of directors gave the green light to breaking the mother company into subsidiaries, along with amending articles no. 6, 49, and 62 of the memorandum.
The extraordinary meeting will thus be called for considering the above proposals.
In 2015, the company logged a consolidated loss of EGP 7 million in 2015 against a net profit of EGP 40.23 million a year earlier.
