Egyptians for Investment approves capital increase
Cairo - The Egyptians for Investment and Urban Development Company's board agreed, on 18 June, to increase the issued and paid-up capital to EGP 165 million from EGP 150 million.
The EGX-listed firm will distribute 15 million bonus shares to 150 million shareholders, reflecting a ratio of one bonus share for every ten shares held, according to a bourse statement.
The transaction will be funded from retained earnings of EGP 17.53 million, with EGP 749,865 allocated as a 5% legal reserve, leaving EGP 16.78 million available for distribution.
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