The Maldives Transport Contracting Company (MTCC) has lowered it's share prices, and has decided to sell more shares to it's current shareholders.
A statement released by MTCC said that a general assembly will be held with all the company shareholders to finalise details on the the decisions made by the company board.
The board had decided to split shares, by decreasing the face value of current shares worth MVR 50 to MVR 5. This will allow 10 more shares to be brought for shares owned. All shares remaining unsold will be opened to the public at a value of MVR 112.
The Chairman of MTCC Ahmed Niyaz said the decision was important in taking the company towards new revolutionary grounds. The Chairman also stated his hope that the shareholders would become more involved in the company with these new changes.
The company had made MVR104.8 million as net profit last year.
